Tolu’s Bold Drilling Plans Near Tolukuma Face Licence Renewal and Resource Risks
Tolu Minerals has launched a major exploration campaign targeting historically rich gold veins near the Tolukuma Gold Mine in Papua New Guinea, aiming to expand its mineral resources with drilling planned for Q3 2025.
- Exploration underway in 120 Vein and Kimono Vein area near Tolukuma Gold Mine
- Historical trench results show exceptional gold grades up to 148 g/t Au
- Airborne magnetotelluric survey reveals new vein targets including Gulbadi Splay
- Five diamond drill rigs secured for follow-up drilling scheduled in Q3 2025
- Exploration camp construction in progress to support extensive field program
Setting the Stage for a New Chapter in PNG Gold Exploration
Tolu Minerals Limited has embarked on a significant exploration program focused on the historically prolific 120 Vein and Kimono Vein areas, located adjacent to the Tolukuma Gold Mine in Papua New Guinea. This initiative marks a pivotal step in the company’s strategy to delineate a substantial gold mineral resource within the 20-kilometre Tolukuma Mineralisation Corridor.
The program integrates surface geological mapping, trench sampling, and multi-element geochemical surveys, all designed to refine drill targets ahead of a planned diamond drilling campaign set to commence in the third quarter of 2025. The company is already investing in infrastructure, with exploration camps under construction to support the field activities.
Historical Data and Modern Technology Illuminate Prospectivity
Historical trench sampling in the 120 Vein area has revealed remarkable gold grades, including an interval of 13 metres at 49 grams per tonne (g/t) gold. The Kimono Vein area boasts even more striking results, with trench intersections reporting up to 1 metre at 148 g/t gold and 413 g/t silver. These findings underscore the high-grade nature of the mineralisation and the potential for resource expansion.
Complementing these historical data, Tolu Minerals’ recent airborne magnetotelluric (MT) survey has identified additional vein targets east of the Tolukuma Gold Mine, notably the Gulbadi Splay structure. The MT survey’s rhomboidal structural features in the Kimono area mirror those associated with mineralisation at Tolukuma, reinforcing the geological rationale for focused exploration.
Strategic Preparations for Drilling and Resource Growth
To facilitate the upcoming drilling campaign, Tolu has secured five diamond drill rigs, signaling a robust commitment to advancing exploration. The initial phase targets near-mine extensions of known veins, with the Kimono Vein system presenting a network of quartz-sulphide veins that have seen limited prior drilling but show strong analogies to mined structures within the mining lease.
Executive Group Geologist Chris Muller highlights the potential of these veins, emphasizing their structural similarities to successful mining targets and the planned integration of surface and underground drilling. This comprehensive approach aims to rapidly expand the known mineral resource base and support future mining operations.
Navigating Tenure and Historical Legacy
Tolu Minerals holds 100% ownership of Frontier Copper PNG Limited, which controls the key exploration licences and mining lease in the area. While some exploration licences are pending renewal, the company currently operates with secure tenure under Papua New Guinea’s Mining Act. The project benefits from a rich exploration history involving major players such as Newmont and Dome Resources, providing a solid foundation of geological and assay data to guide current efforts.
Managing director Iain Macpherson underscores the significance of this exploration phase, describing it as a milestone in Tolu’s growth strategy and a critical step toward defining a large-scale gold resource. The company’s methodical integration of historical results, modern geophysics, and planned drilling positions it well to unlock further value from this prolific gold corridor.
Bottom Line?
As Tolu Minerals advances drilling in Q3 2025, the market will watch closely for results that could reshape the gold resource landscape near Tolukuma.
Questions in the middle?
- Will the upcoming drilling confirm continuity and scale of the high-grade veins indicated by historical trenches?
- How will the pending renewal of several exploration licences impact the pace and scope of exploration?
- What are the potential timelines and capital requirements for transitioning from exploration to production?
