Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Canada
  4. CANADIAN NATIONAL STOCK EXCHANGE
  5. PNG Copper Inc.
  6. News
  7. Summary
    PNGC   CA69356K1003

PNG COPPER INC.

(PNGC)
SummaryQuotesChartsNewsCalendarCompanyFinancials 
SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

Golden Birch Resources : Confirms Daru-Araboro as Third Priority Prospect at Keveri Project

04/16/2020 | 09:45am EST

TIMMINS - Golden Birch Resources Inc. (CSE: GBRX) ('Golden Birch' or the 'Company') is pleased to confirm the advancement of the Daru-Araboro target to prospect status ('Daru-Araboro Prospect' or 'Daru-Araboro') and provide information for all technical data generated by the Company at Daru-Araboro.

Highlights of the Daru-Araboro Prospect

Golden Birch recognised Daru-Araboro as a potential prospect, given its strategic location near the intersection of key structural features being the main NW-SE Keveri Fault and northeast structures; Historic reconnaissance exploration in 1990 by Highlands Gold Ltd. discovered a quartz-sulphide rock float in Araboro Creek assaying 1.35% copper ('Cu') and 0.14 g/t gold ('Au') (Mt Suckling Exploration Report, Lindley et al 2012); Golden Birch geologists carried out initial exploration at Daru-Araboro Prospect in late 2018; Follow-up exploration by the Company geologists in early 2019 included traversing of creeks which uncovered multiple rock float samples with visible copper mineralization; Exploration to date has yielded best results of 8.86% Cu and 1.24 g/t Au in separate selective rock float samples with best Cu results from selective in situ outcrop of 1.64% Cu; Exploration at Daru-Araboro is at an early stage and assay values from in situ outcrop and rock float samples are selective in nature and are not representative of the overall prospect area; Further work is required before a representative grade for copper and gold can be determined for Daru-Araboro; Daru-Araboro Prospect has yielded anomalous copper and gold results in multiple selective in situ outcrops and rock float samples over an area of approximately 1.0 kilometre ('km') north-south by 1.0 km east-west and Wide-spaced, reconnaissance soil survey yields multiple anomalous and coincident copper, gold and molybdenum ('Mo') values.

Alan Martin, President of Golden Birch states, 'I am excited that our exploration team has advanced the Daru-Araboro Prospect from grass roots stage to our third priority prospect in our pipeline after Omu and Waki. Daru-Araboro was highlighted as a potential prospect of merit because of its location near the intersection of key structural features. It is very encouraging to see that our targeting methods are yielding positive results. The addition of Daru-Araboro as a priority prospect means the Company has multiple opportunities to create value for its shareholders. The Omu, Waki and Daru-Araboro Prospects have several characteristics of Tier 1 Cu-Au deposits in Papua New Guinea. The exploration results at Daru-Araboro are at an early stage and not representative of the entire project. Further exploration is required to determine grade and tonnage.'

Location of copper-gold targets within the Keveri Project being explored by Golden Birch. The Daru-Araboro Prospect is located approximately 12 km east of the Omu prospect (the 'Omu Prospect'). Of particular note are the northeast (NE) transfer structures which form part of the overall Dimidi Trend and the northwest-southeast (NW-SE) 'arc-parallel' Keveri and Nonia Faults (Mt Suckling Exploration Report, Lindley et al 2012).

About Golden Birch Resources Inc.

Golden Birch Resources Inc. is a mineral exploration company focused on acquiring, exploring, and developing quality mineral properties in Papua New Guinea. Core values for the Company are respect for the community, the landowners, the environment and operating a safe workplace for its employees. The Company is also committed to best practise standards of corporate governance.

Contact:

Tel: +1 (0) 705 288 0249

Forward-Looking Statements

This Press Release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. Such statements reflect the Company's present views, future plans, objective or goals, including words to the effect that the Company or management expects a stated condition or result to occur. When used in this document, the words 'may', 'would', 'could', 'will', 'intend', 'plan', 'anticipate', 'believe', 'estimate', 'expect' and similar expressions are intended to identify forward-looking statements. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Many risks, uncertainties, and other factors involved with forward-looking information could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities.

Forward-looking information in this news release includes, but is not limited to, the Company's objectives, goals or future plans, statements, such actual results of current exploration programs, the general risks associated with the mining industry, the price of copper, gold and other metals, currency and interest rate fluctuations, increased competition and general economic and market factors, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company's public documents filed on SEDAR.

Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

(C) 2020 Electronic News Publishing, source ENP Newswire

All news about PNG COPPER INC.
2021PNG Copper Up 9.1% after Reporting Closing of Private Placement
MT
2021PNG Copper Inc. announced that it has received CAD 0.1 million in funding
CI
2021PNG Copper Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended Se..
CI
2021PNG COPPER : Newly Named Interim CEO to Review Drilling Program
MT
2021PNG Copper Inc. Announces Board Resignations
CI
2021PNG Copper Inc. Announces Executive Changes
CI
2021PNG Copper Inc. Announces the Appointment of Dr. David Lindley as Interim CEO, Review o..
NE
2021PNG Copper Inc. Announces Closing of Third and Final Tranche of Private Placement
NE
2021PNG Copper Inc. announced that it has received CAD 1.12475 million in funding
CI
2021Png Copper Inc. Reports Earnings Results for the Second Quarter Ended June 30, 2021
CI
More news
Financials
Sales 2020 - - -
Net income 2020 -2,86 M -2,26 M -2,26 M
Net cash 2020 1,44 M 1,14 M 1,14 M
P/E ratio 2020 -4,13x
Yield 2020 -
Capitalization 8,37 M 6,60 M 6,60 M
EV / Sales 2019 -
EV / Sales 2020 -
Nbr of Employees -
Free-Float -
Chart PNG COPPER INC.
Duration : Period :
PNG Copper Inc. Technical Analysis Chart | MarketScreener
Full-screen chart
Income Statement Evolution
Managers and Directors
Ian David Lindley Chief Executive Officer
Alan Martin President & Executive Director
Paul Rokeby Chief Financial Officer & Treasurer
Christopher Cornelius Director
Iain Martin Secretary
Sector and Competitors