Quintessential Resources announced that it has received rock sample assays that have demonstrated significant high grade copper along with silver and molybdenum mineralization at the Irak Prospect in Papua New Guinea.
Recently listed Quintessential has hit the exploration trail hard with limited creek rock wall continuous chip assays confirming the prospectivity of the Mal Porphyry Copper District.
Several copper mineralized outcrops were discovered at Irak while undertaking brief creek traverses that assayed 15 meters at 1.38% copper, 17 grams per tonne silver, 170 parts per million molybdenum and 0.09 grams per tonne gold.
Within the broader intersection were higher grade highlights including 2 meters at 4.69% copper, 47 grams per tonne silver and 219ppm molybdenum; 2 meters at 2.76% copper, 31 grams per tonne silver and 228 ppm molybdenum and 7 metres at 1.88% copper, 23 grams per tonne silver and 158 ppm molybdenum. This new exploration follows up on the historic very high grade samples of 3% copper, plus 46 grams per tonne silver and 9.57 grams per tonne gold from rock samples.
Quintessential’s reconnaissance geochemical program was an adjunct to the grid cutting and 3D induced polarisation geophysical program recently completed at Irak. A total of 86 variable length continuous channel samples were collected in a creek over 268 meters.
Is located 9.5 kilometres from the Yenkis airstrip and 15 kilometres from the Tekem Prospect, which is highly prospective for porphyry copper, gold, silver and molybdenum due to the location on the Maramuni Karawari Fault Zone.
This zone is at the intersection of a major regional, arc parallel terrane bounding fault and a major arc normal lineament where the geology consists of mid Miocene age intermediate intrusives into Mesozoic age shales and slates.
Quintessential listed on the ASX in early August, following a successful IPO which offered 30 million shares at USD 0.20 to raise USD 6 million. The company’s initial focus is on exploring for gold and porphyry copper and gold deposits at the Bismarck Exploration Licence which includes the Irak prospect.
