Tolu Minerals Uncovers Multiple High-Priority Copper-Gold Targets at Mt Penck

Strategic Location and Regional Activity

Tolu Minerals Limited has announced a compelling update on its Mt Penck copper-gold project in Papua New Guinea, following an independent review of recent airborne magnetotellurics (MT) geophysics alongside historical 3D induced polarization (3D-IP) and geochemical data. The review confirmed the presence of three major regional porphyry copper-gold targets and nine additional geophysical anomalies, setting a clear path for Tolu's upcoming exploration efforts.

Mt Penck’s strategic advantage is underscored by its road connectivity to Kimbe, the provincial capital with a deep-water port, facilitating potential resource development logistics. The project sits at the intersection of two significant regional porphyry belts, the NW-trending Kulu-Simi corridor and a NE-trending belt, which enhances its prospectivity.

Historical Data Supports Exploration Potential

Historical exploration dating back to the 1980s, including over 12,000 meters of drilling, has delineated a large epithermal gold-silver-base metal system with multiple mineralised zones such as Kavola, Peni Creek, and Koibua. Notably, high-grade polymetallic mineralisation was recorded at Kavola, with assays reaching up to 36.7 g/t gold and significant silver, copper, lead, and zinc values, suggesting a porphyry source at depth.

The independent review highlighted Target A, a 3-kilometer-wide resistivity anomaly interpreted as a potassic altered core typical of porphyry systems, which encompasses all known historical prospects. This target, along with others identified, will guide Tolu’s prioritisation for soil sampling, trenching, and drilling.

Regional Interest Intensifies with Rio Tinto’s License Application

Adding to the project's appeal, Rio Tinto has applied for a substantial 1,949 square kilometer exploration license adjacent to Mt Penck. This application, more than six times the size of Tolu’s tenements, signals strong industry confidence in the region’s copper-gold potential. Such major player involvement often acts as a catalyst for increased exploration activity and can validate the geological models underpinning smaller operators like Tolu.

Chris Muller, Tolu’s CEO, emphasised the significance of these findings and the infrastructure advantages, stating that the project’s accessibility and the confirmed targets bolster confidence in Mt Penck’s potential to host significant mineralisation.

Next Steps and Exploration Outlook

Tolu plans to leverage the comprehensive geophysical and geochemical datasets to refine its exploration strategy. The company aims to conduct targeted follow-up work including soil sampling, trenching, and ultimately drilling to test the high-priority targets. This methodical approach is designed to build on the historical data and independent geophysical insights to advance Mt Penck towards resource definition.

While no new drilling has been undertaken by Tolu yet, the integration of historical data with modern geophysical techniques provides a robust foundation for discovery. The company’s 100% ownership of the tenements and the ongoing renewal processes ensure tenure security as exploration progresses.