LIHIR Subsea Gold Project

LIHIR GOLD PROJECT

The project's license area is adjacent to Lihir Island in Papua New Guinea, where a major international mining company mined and processed one of the world's largest known terrestrial gold deposits. 

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The Exploration License for the Lihir Gold Project covers a sizeable subsea area containing at least four prospective exploration targets in two mineralization types: seamount-related epithermal and modern placer gold. Previous exploration expeditions in the license area, including a survey conducted by Odyssey, indicate a polymetallic resource with commercially viable gold content likely exists. Additionally, the two subaqueous debris fields within the area are adjacent to the terrestrial Ladolam Gold Mine. They are believed to have originated from the same volcanogenic source.

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Odyssey has met with local regulatory authorities, specialists in local mining, environmental legal experts, and logistics support service companies in PNG to establish baseline business functions essential for a successful program to help upcoming marine operations in the license area.

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Odyssey is conducting exploration activities to validate and quantify the prospective resource's precious and base metal content. Bismarck and Odyssey value the environment, respect the interests and people of Papua New Guinea and Lihir, and are committed to transparent sharing of all environmental data collected during the exploration program.