- Papua Mining, the gold and copper exploration company, has completed its first phase of drilling at the Plateau Prospect, part of the Lighthouse Gold Project in Queensland, Australia.

Eleven reverse circulation drill holes have been drilled for a total of 2,111 metres and to a maximum depth of 250m from surface as planned.

This drilling was completed ahead of schedule and prior to the commencement of the wet season in Northern Australia.

Geological logging of the Reverse Circulation chips recorded observations of sulphides within altered faults and breccia zones. Drilling results will be announced to the market once the samples have been analysed by Australian Laboratory Services.

David Price, chief executive officer of Papua Mining, said: "We are pleased to have our first drilling campaign completed ahead of time and within budget. Papua is now in an excellent position to have all drilling samples analysed, verified, interpreted and remodelled within an efficient timescale. We look forward to updating our shareholders on the results of this drilling programme."

At 9:52am: [LON:PML] Papua Mining Plc share price was 0p at 1.48p

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