Nautilus Minerals Inc. has discovered two new high-grade, Seafloor Massive Sulfide systems in its tenements in the territorial waters of Tonga. 

 

Mike Johnston, the CEO of Nautilus Minerals Inc. announced the new discovery on Thursday, November 1.

 

Grab samples from these discoveries assayed up to 11.9% copper, 59.8% zinc, 28.6g/t gold and 673 g/t silver.

 

Mike, in a statement from  Ontario, Toronto, Canada, said that the two new SMS Systems further highlighted the prospectivity of the company's Tongan exploration tenements, "particularly the high  precious metal grades we continue to encounter in the NE Lau Basin. . ." 

 

Paula Taumoepeau, the Tonga Country Manager for Nautilus Minerals Tonga Ltd. said that since 2008 when Nautilus started exploring for minerals on Tonga's seabed they had been encouraged with their findings.

 

He said they had not set a date for when they might actually start mining, but in the meantime they were preparing for when the time was right to embark on under-water mining. "We are still carrying out environmental impact assessments, and so far we have spent about $38 million pa'anga in Tonga," he said.