High grade assays from Yandera project

Rock chip and float samples from satellite prospects at Marengo Mining Ltd’s....

  Rock chip and float samples from satellite prospects at Marengo Mining Ltd’s 100% owned Yandera Project in Papua New Guinea have produced significant gold, silver and base metal assays.Assay results include 12.1% copper, 3.76% zinc, 0.79% lead, 0.83% molybdenum, 271g/t silver and 19.1g/t gold. As part of a program to further investigate previously reported satellite prospects surrounding the Yandera Central Copper-Molybdenum Resource, a program of stream sediment, rock chip and float sampling is being carried out in the Yandera region.Initial results from the rock sampling have returned a number of significant result which warrant follow up geochemistry and geological mapping. Some of the significant results are described below. The Gogobangu Prospect, located approximately 2km east of the Yandera Central Resource, is a distinct gold anomaly with 5 samples returning values greater than 0.2ppm. The highest value of 19.1ppm (g/t) Au also returned 75ppm (g/t) Ag, 0.12% Cu, 247ppm Mo, 0.78% Pb, and 3.76% Zn. Several other samples returned anomalous Zn, Pb, and Mo values.The geological setting is yet to be established, however the area may be considered strike parallel to the Yandera Central Resource, rather than a strike extension. Geological mapping and further sampling will be carried out before the end of this year. The North and South Bononi Prospects are located approximately 4km south-east of the Yandera Central Resource. Anomalous samples are spread out over a north – south extent of approximately 2km, however these are not as coherent as the Gogobangu anomaly. Rock chip samples returned up to 12.1% Cu, 0.2ppm (g/t) Au, 271ppm (g/t) Ag, and 8330ppm Mo. Follow up geochemistry and geological mapping is certainly warranted and will be carried out on completion of the regional sampling program. The regional program is currently covering areas to the north west of Yandera, into the Queen Bee prospect area (some 8km to the north-west of the Yandera Central Resource). One of the priorities in this area is to locate the mineralisation reported by previous operators, from the Queen Bee Prospect. Local residents have brought in numerous specimens of Cu, Mo, Zn and Pb minerals and these are being ground located at present, to enable sampling and geological mapping.Preliminary reconnaissance in this area has already identified copper mineralisation, as chalcopyrite in fracture filled, altered granodiorite and chalcopyrite/bornite in diorite.Diamond drilling continues at the Yandera Central Resource where, following the release of a Conceptual Mining Study, Marengo has announced the commencement of a bankable feasibility study into the development of the Yandera Central Resource, which has the potential to become a very significant strategic source of copper and molybdenum production, in global terms.