Nautilus Minerals Inc (TSX, AIM: NUS) has completed phase two of its 2009 target generation program in Tonga, on 100 percent Nautilus prospecting licences, saying preliminary interpretation of water column survey data has defined 20 new water column anomalies, bringing the total number of anomalies generated from both phases to 32.
Further test work and sampling on all the anomalies is now required.
Nautilus CEO Stephen Rogers commented: "We are extremely pleased with the results of our 2009 Tongan exploration program. In a matter of some 50 days of effective exploration, we have been able to define 32 new anomalies with signatures we consider analogous with hydrothermal vent systems.”
“We now have an impressive inventory of targets in Tonga ready for follow-up work. The remainder of our 2009 exploration program will be focused in Papua New Guinea and the Solomon Islands," he added.
Nautilus targets high-grade Seafloor Massive Sulphide (SMS) deposits of copper, gold, zinc and silver.