Simuku
| Location: | West New Britain Island |
| Minteral: | Copper-Molybdenum-Gold |
| Property Size: | 43 sq km |
| Stage of Development: | Exploration |
| Current Work Program: | Interpretation of Drill and Trench Assay Results |
| Potential: | World Class Copper-Molybdenum-Gold Deposit |
| Ownership: | 100% Coppermoly |
Overview: Simuku is a large porphyry copper-molybdenum-gold system, which is one of three mineralized centers associated with the nearby Kulu Batholith. Mineralization and/or geochemical anomalies are known over an area of roughly 60 km2. Simuku forms only part of this very large mineralized area, much of which remains unexplored in detail. The Simuku Project provides an excellent opportunity for participation in a porphyry copper system with high molybdenum credits in a relatively accessible and lower cost region of Papua New Guinea. Past trench results for the Simuku Project, included very significant molybdenum results which is positive given the substantial increase in price over the past few years.
Geology: The island of New Britain formed as a result of Eocene to Oligocene volcanism above a southwest dipping subduction zone. The subduction pattern changed during the Miocene with subduction moving to the New Britain trench to the south of the island. Lower Tertiary island arc volcanics, volcaniclastics and intrusives form the basement rocks for New Britain with Eocene Baining Volcanics, Oligocene Merai Volcanics (East New Britain) and Kapuluk Volcanics and Oligocene intrusives (Figure B2). Baining Volcanics are mainly massive too well bedded volcanics, volcanic sediments and related intrusives. The volcanics are basic to intermediate and believed to be over 600m thick. Sediments consist mainly of marine conglomerates, sandstones and siltstones with minor limestone lenses. The Kapuluk volcanics are compositionally similar to the Banning Volcanics and formed under similar island arc conditions. Plutonic and hypabyssal rocks, of granodiorite to gabbro composition, are mainly comagmatic with the upper Oligocene volcanics. Porphyry copper mineralization is mainly found within the intrusive complex.
Change in the subduction pattern during Early Miocene resulted in a hiatus in volcanic active, and gradual subsidence accompanied by deposition of thick limestone sequences of the Yalam and Sai Beds. Volcanism resumed in the Pliocene with deposition of tuffaceous sediments, acid tuff and basal conglomerates of the Kapiura Beds. The Quaternary Kimbe Volcanics border the Bismarck Sea and form island off the north coast of New Guinea. The Kimbe Volcanics are products of strato-volcanoes that produce mainly andesitic lavas. Recent volcanic activity has resulted in\expensive post mineral cover of a large part of New Britain with pumice and volcanic ash. The Simuku property geology is shown in Figure B4 after Kirakar (1987), Carter 1988) and other previous property geologists. The Simuku property is mainly underlain by andesitic to basaltic volcanic and volcaniclastic rocks of the Kapuluk Volcanics and felsic andesitic to dacitic intrusive dykes, sills and stocks belonging to the Upper Oligocene intrusive suite related to the Kapuluk Volcanics.
Copper-Molybdenum-Gold Targets: More than 23km of bulldozer/excavator trenching and 14 drill holes have defined porphyry copper-molybdenum- gold mineralization over an area of at least 4.5km by 2.2km, closely related to altered quartz porphyry and quartz diorite/monzonite intrusions in altered andesitic volcanics. The ore mineral suite includes chalcopyrite, bornite, chalcocite and molybdenite. Trenching and drilling has defined a large, 3500m by 650m anomalous copper envelope (>1000ppm Cu) enclosing an inner anomalous molybdenum envelope (>100ppm Mo) that coincide with a northeast trending structural zone. A combination of geological, geochemical and geophysical data indicate that the mineralized system may be much larger and a number of untested targets lie outside the currently defined envelopes. In addition, only one of the 14 holes drilled at Simuku is deeper than 200m, so that the system remains largely untested at depth.
Highlights:
The best drill hole intersections from historical drilling were:
- 41m @ 0.64% copper
- 63m @ 0.52% copper
- 36m @ 0.70% copper
- 150m@ 0.35% copper
- 73m @ 0.17% molybdenum
- 6 m @ 0.34% molybdenum
- 70m @ 0.4% copper
- 14m @ 1.03% copper
- 27m @ 0.76% copper
- 15m @ 0.58g/t gold
- 24m @ 0.5g/t gold
Bulldozer trenching has exposed a 78m interval (sample width) of 0.13% Mo, including 15m at 0.25% Mo, at the Horseshoe Molybdenum Target. Initial drill testing with two shallow holes intersected high grade, breccia-hosted molybdenum mineralization with significant associated copper grades. Drill intersections include 19m at 0.32% Mo, including 7m at 0.61% Mo, and 26m at 0.36% Cu, including 6m at 0.51% Cu. These molybdenum grades compare very favorably with high grade molybdenum deposits elsewhere. For example, the large Henderson Mine in Colorado, USA, produced 160Mt at 0.24% Mo and the Boss Mountain deposit in Canada produced 7.5Mt at 0.20% Mo. There is good potential for discovering high grade molybdenum deposits at Simuku.
History: In 1979 Nord Resources conducted regional surveys that included the Simuku area. Esso worked the area between 1981 and 1986 with programs directed toward evaluation of identified porphyry Cu systems. Four diamond drill holes, totaling 624.7m, were drilled at the Simuku prospect in 1983. The drill holes confirmed the presence of a chalcocite enriched zone overlying primary copper mineralization. A gold enriched system is also suggested with a best intersection of 0.12 g/t Au from hole-SM-1.
City Resources acquired the Simuku property in 1987 and conducted further basic geochemical Sampling and mapping for definition of the Talelumus Prospect before financial problems lead to termination of City's interest.
In September 1994 Placer (PNG) Exploration Pty Ltd. (Placer) optioned the Simuku property. Placer's work program consisted of IP and magnetic surveys, detailed mapping, geochemical sampling, pitting and bulldozer trenching on the Simuku prospect. Placer's report (1995) stated:
"The hypogene potential of the Simuku prospect has been demonstrated by surface geochemistry in conjunction with IP geophysics and diamond drilling by Esso. It is believed that high grades encountered in Trench 2 are due to an overprint of supergene mineralization on a disseminated hypogene zone. The requirement for additional exploration of a hypogene copper target has been highlighted. The recommended program should include a structural air photo interpretation over the entire EL, reconnaissance mapping of all hypogene Cu occurrences, additional hand dozer trenching over all IP anomalies followed by a 2-3 diamond hole drilling program." Although Placer's property report contained a positive recommendation for further work; Placer terminated its option in late 1995 without completing the recommended work program.
In 1996/1997 a Macmin joint venture with NGG completed 3,200m of bulldozer trenching with large intervals grading 0.2 to 0.5% Cu, and completed 8 drill holes totaling 857m (RC 584m; Diamond Core 273m)
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