Triple Plate Junction PLC RESULTS
TPJ, the AIM listed gold exploration company focussed on South East Asia, today announces its results for the year ended 31st March 2012.
HIGHLIGHTS:
- Drilling commenced at three of the Company’s four joint venture projects
Morobe
- Newmont completed Phase II earn-in three years ahead of contractual deadline
- Initial drilling completed at first two targets
- 13 additional drill targets identified
- Drilling temporarily suspended to allow mapping and sampling programmes to be finalised
Manus Island
- Geo-mag survey completed across entire project area
- Drilling underway at Kisi with 750 metres drilled since April 201
- Newcrest expected to commence drilling at second target, Arie, during July 2012
Crater Mountain
- Gold Anomaly has completed 9,850 metres of drilling programme
- TPJ elected to reduce its share of project to 8% and take a “free carry” through to bankable feasibility study
Wamum
- Additional AUS$ 550,000 budget approved by Barrick for further fieldwork on existing and new prospects
- £2.2 million fundraising successfully completed in Q3 2011
Tony Shearer, Chairman of TPJ commented: “The last year has been a very important one for the Company, and much has been achieved. Drilling is taking, or has taken, place on our joint ventures with Newmont, Newcrest and Gold Anomaly. While the results to date at Morobe have not yet produced assay results that indicate a major discovery, Newmont remains committed to the project and the drill programme is expected to last for at least another 3 years. We look forward to providing updates on the ongoing drilling at Manus Island in the coming months and remain confident in the future direction of the Company.”