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Exploration
 
| |  Nautilus is exploring for high-grade polymetallic (copper, gold, zinc, silver) seafloor massive sulphide (SMS) systems both regionally and across the world. NAUTILUS TONGAN EXPLORATION PROGRAM Nautilus collaborated with marine scientific research organisations to increase the data coverage over Nautilus's Tongan holdings. The Australian National University ("ANU"), the Commonwealth Scientific and Industrial Research Organisation ("CSIRO") and Nautilus, were onboard the Marine National Facility research vessel Southern Surveyor in May and June 2009. Phase one of the program focused on Nautilus' granted Tongan tenements in the NE Lau Basin. It was completed in Nuku' alofa, on May 18, 2009. This phase of the program discovered new mineralised areas with assay results from recovered samples showing high grade copper, gold, zinc and silver assays with highest assay results across all the samples tested of 12.6% Cu, 34.0 g/t Au, 60.9% Zn and 185 g/t Ag. To read more on the results from the first phase please click on the links provided for release on May 27, 2009 and June 11, 2009 Phase two of this 2009 Tongan exploration program comprised of approximately 27 days of water column sampling, bathymetric surveying, and rock sampling. The phase defined 20 new water column anamolies. Further testwork and sampling on all the anomalies is now required. To read more on the phase two program please click here. 2009 PNG EXPLORATION PROGRAM Nautilus executed an exploration program to expand Nautilus' Seafloor Massive Sulphide ("SMS") prospect inventory within its 100% owned Bismarck and Woodlark (Papua New Guinea) licenses. Fugro provided the vessel MV Fugro Solstice, a 70.25 metre long, 2,397 tonne, DP2 (dynamically positioned), ROV support vessel for this campaign. The vessel, ROV, geophysical, geochemical and sampling instruments represent a further step forward in the advancement of Nautilus' SMS exploration techniques. During 132 days of service, Fugro conducted target generation and target testing work. Seven highly prospective areas were identified during the first two weeks of its MV Fugro Solstice exploration campaign on Nautilus' wholly owned exploration licenses in the Bismarck Sea, Papua New Guinea ("PNG"). The areas were identified using enhanced target generation techniques and technology developed by Nautilus' exploration team over the last two years. Click here to read more. The areas were followed up later in 2009 and early 2010 when a remotely operated vehicle ("ROV") was used to test for seafloor massive sulphide ("SMS") systems. Five new SMS systems (Solwara 12, 13, 14, 16 and 18) were sampled. Click here to see final assay results for Solwara 12 and 13 and here for final assay result for Solwara 14, 16 and 18. A further high grade discovery, Solwara 11i, an extension to an existing system (Solwara 11) was also made. Click here to read the final assay results.
2Results current as of January 14, 2010 3Results current as of February 25, 2010
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