Tolu Minerals Intersects Two High-Grade Near-Mine Vein Systems at Papua New Guinea Gold Mine, Shares Rise 3%

MT Newswires Live

May 28

Tolu Minerals (ASX:TOK) intersected two new high-grade near-mine vein systems at the Tolukuma gold mine in Papua New Guinea, according to a Thursday Australian bourse filing.

It encountered returns of 4.67 meters grading 42.76 grams per tonne (g/t) grade of gold at Fundoot, including 1.3 meters at 82.8 g/t grade of gold, confirming a new high-grade hanging wall structure. It also encountered two meters at 16.94 g/t grade of gold, including one meter at 26.49 g/t grade of gold, identifying a new and second mineralized structure at Gulbadi.

The firm also said initial face sampling results from new cut ore faces returned "exceptional" grades, including multiple intervals exceeding 31 g/t grade of gold.

Its shares rose 3% in recent trading on Thursday.

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