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Neptune to partner NZ researchers in studying underwater geology
16 September 2008, Source: Neptune Minerals and Lindsay Clark - Sydney-based Neptune Minerals, which is exploring for copper-gold-silver-zinc-lead rich seafloor massive sulphide deposits in offshore New Zealand waters, is to partner New Zealand and British researchers to study underwater mineral geology.on the Kermadec arc.
The London-listed company said that a research proposal by New Zealand’s National Institute of Water and Atmospheric Research (NIWA), the University of Auckland and the National Oceanographic Centre in the UK has been selected for funding by the New Zealand Government’s major science funding agency FRST.
The research proposal aims to contribute to new wealth creation from New Zealand’s offshore mineral resources and better environmental management of New Zealand’s Exclusive Economic Zone (EEZ).
A key aim of the research is to improve the efficiency of submarine mineral exploration in the Kermadec Ridge area by providing a tectonic analysis of regional hydrothermal fluid permeability.
New volcano-scale geophysical characterisations of active and inactive hydrothermal/mineralised systems would be developed to aid identification of sub-surface ore-body structure and size.
Other research would also provide regional and seamount specific biological characterisations. This will enable government agencies to better develop and implement environmental management, policy strategies, operational guidelines, and potential legislative change in an area with both high mineral and environmental/biodiversity value.
The project has received funding of NZ$2.5million over five years and will be led by Dr Ian Wright, formerly of NIWA, who is now the co-chair, marine geology & geophysics at the National Oceanography Centre in Southampton, England.
Neptune’s chief executive officer Dr Simon McDonald said it is important for his company to be involved in a project which will not only benefit Neptune, but will also contribute to New Zealand’s understanding of the deep sea environment.
The New Zealand manager for Neptune Campbell McKenzie told the AusIMM minerals conference in Wellington that Neptune has lodged a mining licence application over the Rumble II West seamount where two hydrothermally inactive seafloor massive sulphide deposits were discovered during the Kermadec 07 exploration cruise.
He said the company hopes to lodge many other applications over coming years to develop a portfolio of deposits to support a mining system.
