St Barbara Limited (ASX:SBM) Extends High-Grade Gold Exploration Targets in PNG
Exploration Highlights
St Barbara Limited (ASX:SBM) has reported highly anomalous gold results from soil and rock chip samples, expanding gold in soil anomalies at Southwest Tatau Island to 7.3 km². High-grade gold was identified in the Mt Siro – Seraror area with values up to 22.5 ppm Au and 12.3 ppm Au and in the Mt Tiro area with values up to 2.39 ppm Au. The presence of widespread alteration and sulphides indicates a large hydrothermal system, enhancing the exploration potential of the region.
Sample Results
The exploration program included hand auger soil sampling, rock chip sampling, trenching, and reconnaissance RC drilling over an area measuring 6 km by 3.5 km. A total of 300 soil samples and 204 rock chip samples were collected. Notable results include 22.5 ppm Au in rock chips and 2.39 ppm Au in soil samples, located between 150 m and 500 m from previous drilling sites. The Mt Tiro anomaly now measures approximately 1.8 km x 0.8 km, while the Mt Siro – Seraror anomaly measures 1.4 km x 0.7 km.
Future Exploration Plans
St Barbara plans to conduct follow-up soil sampling to close out gold anomalies and initiate further trenching and RC drilling targeting the high-grade results. Assay results for trenching and drilling completed during the current campaign are expected in Q1 September FY26. The company is also working towards an exploration joint venture agreement with Kumul Mineral Holdings Limited over EL609 and EL2462.
Executive Comments
Managing Director and CEO Andrew Strelein stated, “This first substantial regional exploration campaign at Tatau Island, the neighbouring island to Simberi, has rewarded us with multiple highly anomalous rock chip and soil samples that extend the anomalous areas around Mt Tiro and at Mt Siro – Seraror in particular. After focusing our attention in FY24 on the successful Simberi resource development and infill conversion program the team are now broadening their efforts to the regional program and following up opportunities identified in previous campaigns.”
Strelein added, “The Company believes that the presence of widespread alteration and elevated sulphides within the southwest Tatau Island supports the interpreted presence of a large hydrothermal system and demonstrates the exploration potential of the area. The fine tuning of our interpretation of the very large Simberi epithermal system is invaluable to the development of the thinking on exploration across EL609 and EL2462.”
Motley Fool contributor Lianne Eastty has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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