Nautilus unveils second sub-sea project

Sub-sea mining pioneer Nautilus Minerals has identified a second potential high-grade development project in the Bismarck Sea off Papua New Guinea to follow its ground-breaking Solwara 1 project, which is now in the final stages of planning. Preliminary analysis of drill cores from the Solwara 12 prospect, located 25km from Solwara 1, shows copper intersections at grades of more than 10 per cent. This is a substantially higher grade than conventional land-based deposits, where good copper projects are mined at grades of just 1 or 2 per cent, and often lower.