Nautilus Completes Drilling at Solwara Project in PNG

19 May 2011 (Last Updated May 19th, 2011 18:30)

Nautilus Minerals has completed its 2010-11 seafloor drilling programme at the Solwara Project located in Bismarck Sea, Papua New Guinea (PNG). During the drilling programme, Nautilus completed a 99-hole diamond drilling project for a total of 1475 metres, with focus on the area with the

Nautilus Minerals has completed its 2010-11 seafloor drilling programme at the Solwara Project located in Bismarck Sea, Papua New Guinea (PNG).

During the drilling programme, Nautilus completed a 99-hole diamond drilling project for a total of 1475 metres, with focus on the area with the mining lease ML153, which contains the Solwara 1 deposit and the Solwara 5 seafloor massive sulphide (SMS) discovery.

At ML154 a total of 71 holes were drilled for 1,147m, and the remainder of the drilling was conducted in exploration lease 1374, which hosts Nautilus' Solwara 12 SMS discovery.

Nautilus Minerals' CEO Steve Rogers said the firm has commenced data evaluation and analysis and expects to provide the results by the end of the year.