Nautilus Minerals

Nautilus Minerals Inc. (TSX: NUS, OTCQX: NUSMF) is an underwater mineral exploration company headquartered in Toronto, Canada. It is the first company to commercially explore the seafloor for massive sulfide systems, a potential source of high grade copper, gold, zinc and silver. As of October 2010, Nautilus planned to commence production utilizing a newly constructed mining ship in the territorial waters of Papua New Guinea.

The company's Solwara 1 Project is located at 1600 metres water depth in the Bismarck Sea, New Ireland Province. It will be the world’s first deep-sea mining project. The deposit is a high grade copper-gold resource and the world's first seafloor massive sulphide (SMS) resource. The company plans to grow its tenement holdings in the exclusive economic zones and territorial waters of Papua New Guinea, Fiji, Tonga, the Solomon Islands, Vanuatu and New Zealand as well as other areas outside the Western Pacific.

Solwara 1 Resource

In 2007 the exploration team drilled a 43-101 resource on the Solwara 1 Project using newly developed ROV drills. The resulting high grade copper-gold resource was the world's first Seafloor Massive Sulphide ("SMS") resource statement. In 2010/11 further drilling was conducted at Solwara 1 resulting in an increase in the resource base. Results of the updated resource were as follows (November 25, 2011): Indicated Mineral Resource: 1,030kt @ 7.2% Cu, 5.0 g/t Au, 23 g/t Ag, 0.4 % Zn Inferred Mineral Resource: 1,540kt @ 8.1 % Cu, 6.4 g/t Au, 34 g/t Ag, 0.9% Zn

New Guinea

New Guinea (Tok Pisin: Niugini; Dutch: Nieuw-Guinea; Indonesian: Papua or, historically, Irian) is a large Island in the South West Pacific region.

It is the world's second-largest island, after Greenland, covering a land area of 785,753 km², and the largest wholly within the southern hemisphere.

The island is divided among two countries: Papua New Guinea to the east, and Indonesia to the west.

Names

The island has been known by various names.

The name Papua was used to refer to parts of the island before contact with the West. Its etymology is unclear; one theory states that it is from Tidore, the language used by the Sultanate of Tidore, which controlled parts of the island's coastal region. The name came from papo (to unite) and ua (negation), which means not united or, territory that geographically is far away (and thus not united).

Ploeg reports that the word papua is often said to derive from the Malay word papua or pua-pua, meaning 'frizzly-haired', referring to the highly curly hair of the inhabitants of these areas. Another possibility, put forward by Sollewijn Gelpke in 1993, is that it comes from the Biak phrase sup i papwa which means 'the land below [the sunset]' and refers to the islands west of the Bird's Head, as far as Halmahera. Whatever the origin of the name Papua, it came to be associated with this area, and more especially with Halmahera, which was known to the Portuguese by this name during the era of their colonization in this part of the world.

Papua New Guinea

Coordinates: 6°S 147°E / 6°S 147°E / -6; 147

Papua New Guinea (PNG; /ˈpæpuə njuː ˈɡɪniː, ˈpɑː-, -pju-/, US /ˈpæpjuə, pɑːˈpuːə/;Tok Pisin: Papua Niugini; Hiri Motu: Papua Niu Gini), officially the Independent State of Papua New Guinea, is an Oceanian country that occupies the eastern half of the island of New Guinea and its offshore islands in Melanesia, a region of the southwestern Pacific Ocean north of Australia. Its capital, located along its southeastern coast, is Port Moresby. The western half of New Guinea forms the Indonesian provinces of Papua and West Papua.

Papua New Guinea is one of the most culturally diverse countries in the world; 848 languages are listed for the country, of which 12 have no known living speakers. Most of the population of over 7 million people live in customary communities, which are as diverse as the languages. It is also one of the most rural, as only 18 percent of its people live in urban centres. The country is one of the world's least explored, culturally and geographically, and many undiscovered species of plants and animals are thought to exist in the interior.

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