The Veri Veri prospect, located ~100km ESE of Port Moresby and 50km NE of Kupiano port, covers mafic and ultramafic complexes within the Papuan Ultramafic Belt and is considered prospective for high grade nickel sulphide mineralisation. The prospect occurs within the Company’s larger Liamu Project.
Early regional surveys by A.O.G. Minerals’ (1971) geologists located massive nickel sulphide boulders in Veri Veri Creek. This discovery prompted historical exploration programs, initially tracing boulders upstream. Follow-up trenching exposed an east-west trending nickel sulphide vein up to 0.3m thick. However, additional massive nickel sulphide float was subsequently discovered further upstream from the trench. Float samples from within or near the Veri Veri Creek include:
- 15.66% Ni and 9.1g/tAu
- 45.8% Ni(no Au value)
- 23.37% Ni and 10.6g/t Au
- 32.7% Ni and 3.2g/t Au
See announcement 25/11/22 for details