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Message: Hello All
Good question! Not sure that I can lend any clarity to it, but I'll try. This marine stuff can appear somewhat murky, if you know what I mean. Not your standard NI 43-101.
DeBeers Marine Op off Namibia mines at 90-140 metres depth.
As to Nautilus gold ounces... The massive sulphide deposits contain gold, copper, zinc, lead and silver. The following is the NR of assays from the Solwara series in Papua New Guinea that they will be working first.
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February 25, 2010 Nautilus Confirms Recent SMS Discoveries in Papua New Guinea with Assays |
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Toronto Ontario, February 25, 2010 - Nautilus Minerals Inc. (TSX & AIM: NUS) (the "Company" or "Nautilus") is pleased to announce laboratory assay results for the previously announced discoveries from the MV Fugro Solstice cruise in the Bismarck Sea, Papua New Guinea. The assay results confirm high grade sulphide mineralisation at Solwara 14, 16 and 18. With Solwara 12 and 13, a total of five high grade SMS discoveries were made in 2009 and the mineralisation at Solwara 11 was extended. The 2009 work also generated many other targets and anomalies for follow-up in future exploration campaigns. The discovery results, were previously released on January 14, 2010 (www.nautilusminerals.com/s/Media-NewsReleases.asp?ReportID=380619) (reported from results obtained from handheld x-ray fluorescence ("XRF") data) collected on-board the exploration vessel. Stephen Rogers Nautilus' CEO commented: "Work is ongoing to evaluate and rank the Bismarck systems in preparation for a proposed drilling campaign. The drilling campaign is being designed to increase our resource at Solwara 1 and elsewhere in the Bismarck Sea." This link (www.nautilusminerals.com/i/misc/Figure1_DiscoveryLocationMap.pdf) shows the location of the SMS discoveries within the Bismarck Sea. Tables 1 to 4 provide the final assay results for Solwara 11i, 14, 16 and 18 respectively, which update the previously reported XRF results. Table 1: Solwara 11i Final Assay Results of Sulphide Samples
Table 2: Solwara 14 Final Assay Results of SulphideSamples
Table 3: Solwara 16 Final Assay Results of Sulphide Samples
Table 4: Solwara 18 Final Assay Results of Sulphide Samples
Sampling Procedure Grab samples were collected from the seafloor using a manipulator arm mounted on the remotely operated vehicle ("ROV"). Chimney samples averaging 37 kg (from 5 kg to 70 kg) were recovered and processed on board the ship. Sub-samples averaging 4.8 kg (from 1.6 kg to 7.3 kg) were taken from each of the sulphide samples using a pneumatic jack hammer, generally taking a cross section of the sample towards the base of the block. The remaining portions of each sample were retained for reference purposes. Equipment Spread The mapping work described herein was completed using a Fugro FV3000 series ROV. The ROV is equipped with sensors used to map the seafloor. These include: various video cameras and two magnetometers provided by Ocean Floor Geophysics Inc. In addition, high-resolution mapping sonars housed on the ROV were successfully used for the first time to identify real-time seafloor features ahead and to the sides of the ROV beyond the range of the video camera systems used previously. For seafloor sampling purposes, the ROV is equipped with two manipulator arms and a custom-built sample tray, or "geobox", for storing up to 10 hand-sized grab samples or scoop samples. Larger samples are stowed and recovered using a custom built array of salvage bins. Laboratory Assaying All laboratory analyses were carried out by ALS Laboratory Group in Brisbane and Townsville, Australia. ALS operates quality systems based on international standards ISO/IEC17025:1999 "General Requirements for the Competence of Calibration and Testing Laboratories" and ISO9001:2000 "Quality Management Systems - Requirements". Sample Custodianship All sampling, sample handling and analysis was completed under the supervision of Nautilus personnel. Sampling was carried out aboard the MV Fugro Solstice while at sea. All sub-samples were placed into numbered plastic bags. The bagged samples were then subsequently placed into sealed plastic containers with security tags, and transported to ALS laboratories in Townsville, Australia, via courier. Quality Assurance Low-grade blank material, field-duplicates and externally certified geochemical reference materials with known concentrations of gold, copper, zinc, lead and silver were included for analysis with each batch of samples as per a documented quality assurance/quality control procedure. Analysis of these reference materials indicates that the quality of sample preparation and analyses are within acceptable limits for the reporting exploration results. Qualified Person The exploration results reported in this announcement have been compiled under the supervision of Michael Johnston, Vice President Strategic Development of Nautilus Minerals. Mr Johnston is a member of the Australasian Institute of Mining and Metallurgy, has over 25 years experience in mining and exploration geology, and is a qualified person as defined by National Instrument 43-101. He consents to his name being used in this release. About Nautilus Minerals Inc. Nautilus is the first company to commercially explore the ocean floor for polymetallic seafloor massive sulphide deposits and is currently developing its first project. The Company's main focus is the Solwara 1 Project, which is located in the territorial waters of Papua New Guinea in the western Pacific Ocean. Nautilus is listed on the TSX and AIM stock exchanges, and has among its largest shareholders two of the world's leading international resource companies Anglo American (11.1%), Teck Resources (6.8%) and Metalloinvest, one of the largest and fastest growing mining and metallurgical holding companies in Russia, beneficially owns 21.0% of its shares through Gazmetall Holding (Cyprus) Limited. For more information please refer www.nautilusminerals.com or contact: Investor Relations Nautilus Minerals Inc. (Toronto) Email: investor@nautilusminerals.com Tel: +1 (416) 551 1100 Australian Project Office Tel: +61 (7) 3318 5555 Numis Securities Limited Nominated adviser: John Harrison Corporate broking: James Black Tel: + 44(0) 20 7260 1000 |
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