Papuan Precious Metals Corp has an interesting and exciting portfolio of porphyry, epithermal and hydrothermal Ni-PGE projects located at the eastern end of New Guinea’s Central Range porphyry belt and in the Lihir-Tabar mineral belt. PPM’s strategy is to acquire projects that are both geologically prospective and logistically easy to explore.
The company holds six Exploration Licences/Applications and is earning an interest in two Petromin PNG Holdings tenements in the Waria River. PPM’s early success with the identification of a ‘cluster’ of Au-Cu porphyry prospects in the Mt Suckling region, southeastern Papua, and some interesting epithermal gold prospects on New Hanover, has seen the company steadily shift its focus from the search for platinum group metals.
The recent discovery of oxidised breccia outcrop on New Hanover with over 9.5 % copper has changed the complexion of this project, opening up potential for porphyry-style Au-Cu mineralisation. The hydrothermal Doriri Creek nickel deposit, containing significant platinum group element (PGE) credits, remains a core PPM project, given the interest in ultramafic/mafic-hosted hydrothermal nickel deposits since the Avebury discovery in western Tasmania.