Aiabba Minerals Limited

Aiabba Minerals Limited is rated 3 out of 5 in the category mining & metals. Read and write reviews about Aiabba Minerals Limited. Aiabba Minerals Limited incorporated under the Australian Investment & Securities Commission (AISC) with the registered office in Brisbane, Australia. Aiabba is a Pacific Rim focused gold exploration company. The flagship, Malaumanda gold and gold copper project with Exploration License (EL) No. 2421 is located on the head of the Korosameri river, a major tributary of the main Sepik river in the East Sepik province of Papua New Guinea (PNG). EL2421 is in the heart of the New Guinea Orogenic Belt hosting several world class mines and deposits. The Malaumanda Gold-Copper project is located 60km north of the world class Porgera mine (32Moz gold) and 87km east of the massive Frieda River deposit (20MOz Au and 17Mt Cu). Mineralization at Malaumanda appears to be concentrated along the NNE transfer structures, and one of these structures is believed to be the strike extension of the transfer structures localizing the Porgera mine. The project has historic 23 diamond drill holes, high geophysical anomaly potential to yield significant JORC compliant mineral resources and are capable of being progressed to development and mining within a short time frame. And it contains extensive zones of drill identified high grade gold mineralisation and has the potential for world class deposit. The Company is also considering to apply for a Mining Lease to develop the highly potential alluvial gold in almost every creeks and streams drained into the main Korosameri river within the company’s Malaumanda project (EL2421). There is major alluvial mining activity within the license where a local could pan a minimum of 1-3 small flex or nugget gold range from 3-30 grams respectively per day, the largest nugget being 87gram. Also, alluvial gold from the Awari project (gold) is washed downstream of the Menagus river, a major tributary of the Korosameri river. The production from the alluvial mining should sustain the exploration.