FOR IMMEDIATE RELEASE
15 MAY 2008
NEPTUNE MINERALS Plc
("Neptune" or the "Company")
NEPTUNE LODGES FURTHER APPLICATIONS IN JAPAN
Japan
Neptune Minerals Plc (AIM: NPM), a leading explorer and developer of
Seafloor Massive Sulphide ("SMS") deposits, announces that it has
lodged 405 Prospecting Licence Applications over highly prospective
areas within the territorial waters of Japan. The applications have
been accepted as correct by Japan's Ministry for Economy, Trade and
Industry (METI) and have been allocated the tenement numbers 20/223 -
20/627. The applications now await approval from METI to be granted
as Prospecting Licences.
The applications were lodged by the Company's wholly-owned
subsidiary, Neptune Minerals Japan Kabushiki Kaisha and cover
SMS-prospective seafloor features located approximately 500km south
of Tokyo and adjacent to three areas covered by Neptune's existing
Prospecting Licence Applications.
Izu-Bonin Arc
The 405 applications with a total area of 1,400 km2 cover areas in
the Izu-Bonin Arc, a volcanic island arc and associated back-arc
basin entirely within the territorial waters of Japan south of Tokyo.
Neptune's applications cover 6 areas considered to be highly
prospective for SMS adjacent to three seamounts over which Neptune
has existing Prospecting Licence Applications. These three seamounts
- Bayonnaise, Myojin and Myojinsho Knolls - all host well-researched
SMS deposits. One of these deposits, Sunrise, has been estimated by
Japanese researchers to cover an area of 400m x 400m with a sulphide
mound accumulations up to 30m thick.
Dr Simon McDonald, Neptune's Chief Executive Officer, said:
"Neptune's new Japanese applications are an important addition to the
Company's portfolio of high quality SMS tenements. Neptune has
utilised its early-mover advantage and good relationships with local
researchers to apply for prospective acreage located close to
potential offtake customers and resource-hungry markets. These
applications are adjacent to Neptune's existing Izu Arc applications
which cover all the known areas of SMS mineralisation in Japan".
(0) 2 9957 5244
By email to the
Company
info@nepmins.com
Richard Hail (Fox Davies Capital Limited, Broker):
T: +44 (0) 20 7936 5230
Fiona Owen (Grant Thornton Corporate Finance, Nomad): T:
+44 (0) 20 7383 5100
Rozanne Ichikowitz (Grant Thornton Sydney):
T: +61 (0) 2 8297 2522
Nadja Vetter / Matthew Law (Cardew Group,
PR): T: +44 (0) 20 7930 0777
T: +44 (0) 7941 340 436
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