Drilling Report
May 17 2011 - 10:22AM
UK Regulatory
TIDMNUS
Drilling Report
FOR: NAUTILUS MINERALS INC.
TSX, AIM SYMBOL: NUS
May 17, 2011
Nautilus Minerals Completes Drilling Program
VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 17, 2011) - Nautilus Minerals (TSX:NUS)(AIM:NUS) has completed
its 2010/11 seafloor drilling program, with the vessel, REM Etive, having demobilized in Singapore on May 16,
2011.
During the drilling program in the Bismarck Sea of Papua New Guinea, Nautilus completed a 99 hole diamond
drilling project, for a total of 1475 metres.
Drilling was focused within the area of the Mining Lease (ML154) recently granted to Nautilus, which contains
the Solwara 1 deposit and the Solwara 5 seafloor massive sulphide (SMS) discovery. A total of 71 holes was
drilled in ML154, for 1147 metres. The remainder of the drilling was conducted in Exploration Lease 1374, which
hosts Nautilus' Solwara 12 SMS discovery.
Nautilus' CEO, Steve Rogers, said the highlight of the campaign had been the identification of mineralization
at depth at Solwara 12 and the improved knowledge gained at Solwara 1.
"We have commenced data evaluation and analysis and it is expected that results will be reported before the end
of this year," he said.
Nautilus has commissioned Golder & Associates to generate an updated resource estimate.
Technical Information
Detailed information on the drilling program, including drilling results available up to 11 February 2011, were
reported in the news releases of 1 November 2010, 16 December 2010; 6 January 2011, 25 January 2011 and 11
February 2011.
Qualified Person
The exploration results reported in this announcement have been compiled under the supervision of Nautilus'
Exploration Manager Mr John Lowe, a Member of the AUSIMM with over 16 years experience in mineral exploration
and a qualified person as defined by National Instrument 43-101. Mr Lowe has reviewed and approved the
technical disclosure contained in this news release.
About Nautilus Minerals Inc.
Nautilus is the first company to commercially explore the ocean floor for polymetallic seafloor massive
sulphide deposits and is currently developing its first project at Solwara 1, in the territorial waters of
Papua New Guinea in the western Pacific Ocean. Nautilus is listed on the TSX and AIM stock exchanges, and has
among its largest shareholders two of the world's leading international resource companies Anglo American
(11.1%) and Teck Resources (6.8%), as well as Metalloinvest, one of the largest and fastest growing mining and
metallurgical holding companies in Russia, which beneficially owns 21.0% of the Company's issued shares through
Gazmetall Holding (Cyprus) Limited.
-30-
FOR FURTHER INFORMATION PLEASE CONTACT:
Nautilus Minerals Inc. (Toronto)
Investor Relations
+1 (416) 551 1100
investor@nautilusminerals.com
OR
Nautilus Minerals Inc.
Joe Dowling
Vice President Investor Relations and Communications
+61 (7) 3318 5544 or Cell: +61 431 365 741
jjd@nautilusminerals.com
www.nautilusminerals.com
OR
Numis Securities Limited
John Harrison
Nominated Adviser
+ 44(0) 20 7260 1000
OR
Numis Securities Limited
James Black
Corporate Broking
+ 44(0) 20 7260 1000
Neither the TSX nor the London Stock Exchange accept responsibility for the adequacy or accuracy of this press
release.
Nautilus Minerals Inc.
Nautilus Minerals (LSE:NUS)
Historical Stock Chart
From Jun 2024 to Jul 2024
Nautilus Minerals (LSE:NUS)
Historical Stock Chart
From Jul 2023 to Jul 2024
Real-Time news about Nautilus Di (London Stock Exchange): 0 recent articles
More Nautilus Di News Articles