Ipi River EL2780: Tolu’s Airborne MT Survey Reveals High-Grade Copper and Gold Potential

Strategic Expansion in a Promising Province

Tolu Minerals Limited has taken a significant step forward in its Papua New Guinea exploration strategy with the granting of Exploration License EL2780, covering nearly 400 square kilometres of highly prospective ground at Ipi River. This addition strengthens the company’s foothold in a region increasingly recognised for its copper-gold potential, complementing its existing portfolio that includes the Tolukuma Gold-Silver Mine and Mt Penck projects.

Advanced Geophysics Reveal New Targets

Leveraging cutting-edge airborne Magneto Telluric (MT) technology, Tolu has identified five previously unknown geophysical targets indicative of porphyry-style copper-gold mineralisation. This technique provides high-resolution imaging of subsurface electrical resistivity and magnetic properties down to depths of over one kilometre, enabling the detection of geological structures and mineralisation zones that were not apparent from earlier exploration efforts.

The MT survey results align with historical data, reinforcing the presence of a multi-phase intrusive complex with significant copper, gold, and molybdenum mineralisation. Notably, the Mt Yule “Bulls-eye” magnetic anomaly, a large dipolar feature, bears geological similarities to world-class deposits such as Indonesia’s Grasberg and Ertsberg mines, underscoring the prospectivity of the area.

Historical Data Highlights Untapped Potential

Previous exploration dating back to the 1970s by major players including CRA, BHP, and Petromin uncovered encouraging rock chip samples with copper grades exceeding 10% and gold assays up to 167 grams per tonne. However, drilling has been limited to six scout holes, mostly shallow and failing to test the critical potassic core of the porphyry system where higher-grade mineralisation typically concentrates.

These historical results, combined with the new geophysical targets, suggest a compelling opportunity for Tolu to delineate a substantial resource. The company plans a detailed desktop review of all data, followed by targeted fieldwork including mapping, sampling, and deeper drilling to test the newly identified anomalies and the untested potassic core.

Expertise to Unlock Value

In a move that signals its commitment to advancing the Ipi River project, Tolu has appointed Doug Kirwin to its Advisory Board. Kirwin is a globally respected porphyry and epithermal specialist with a track record of major discoveries, including the Hugo Dummett deposit in Mongolia and several significant mines across the Indo-Pacific region. His expertise is expected to guide Tolu’s exploration strategy and enhance the technical rigour of its programs.

Chris Muller, Tolu’s Executive Group Geologist, emphasised the excitement around the newly acquired tenement and the advanced geophysical insights, describing Tolu as one of the most promising growth companies in an underexplored gold province.

Looking Ahead

The award of EL2780 and the integration of advanced geophysical data mark a pivotal phase for Tolu Minerals. As the company moves towards detailed evaluation and drilling, the market will be watching closely for results that could confirm the scale and grade of mineralisation hinted at by historical sampling and the new MT survey. Success here could elevate Tolu’s profile significantly within the copper-gold exploration sector in Papua New Guinea and beyond.