Corcel plc has applied for a gold-copper tenement covering 464 km2 vacant ground in Papua New Guinea (PNG).
TENEMENT
The company’s wholly owned subsidiary Niugini Nickel Pty Ltd (NN) submitted the application for a total 136 graticular sub-blocks.
The site covers the Star Mountains gold-copper exploration project and has undergone “considerable work” by Highlands Pacific Ltd.
Corcel said that NN’s application was believed to be one a number due to be reviewed by the PNG Mineral Resources Authority.
“Whilst no certainty exists that the company will be successful in its application, the board believes that the acquisition of the Star Mountains tenements would capitalise on its existing PNG experience and expertise, and provide a further broadening of the company’s mineral exploration portfolio.”