PanAust Ltd. updated the mineral resource estimate for the Nena copper-gold deposit in Papua New Guinea, part of the Frieda River copper-gold project.
The Nena sulfide mineral resource comprises 52 million tonnes at 2.13% copper and 0.63 g/t of gold in the indicated and inferred categories.
Meanwhile, the Nena gold cap mineral resource contains 20 million tonnes at 1.32 g/t of gold in the indicated and inferred categories, the company said Nov. 27.
The Nena deposit is located about five kilometers northwest of the Horse-Ivaal-Trukai, Ekwai and Koki copper-gold deposits, which form the basis for the Frieda River feasibility study.
The company will conduct future desktop studies to assess the best approach to mining and processing mineralization from the deposit.
