Nautilus granted new exploration licence

The company announced on Thursday (Feb 8th) that the Government granted to Nautilus EL2537, which covers 2,558 km2, including the same prospective geology that hosts the Solwara 1 deposit.

The company says the area was selected based on reconnaissance sampling and survey completed in 2017 and acknowledged the assistance in this area by the PNG Geological Survey.

Nautilus CEO, Mike Johnston, said: “The granting of this Exploration Licence is excellent news.