South Pacific Minerals Corp.
TSX VENTURE : SPZ

South Pacific Minerals Corp.

September 01, 2005 12:32 ET

South Pacific Minerals Corp.: Drilling Update Kodu Porphyry Copper Gold Molybdenum Deposit, Papua New Guinea

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Sept. 1, 2005) - South Pacific Minerals Corp. (TSX VENTURE:SPZ) -

Drilling is continuing at the Kodu porphyry copper-gold-molybdenum Deposit, located approximately 50km northeast of Port Moresby, PNG. The program will likely run to the end of this year and is designed to provide better definition to the NI 43-101 Inferred Resource and to extend its strike length and depth extent.

Drill hole KD002 has been completed to a depth of 512.30m. The rig has moved to the site of hole 3 and commenced drilling. KD002 is the second diamond core hole to be competed during the current drill program, details of which are tabulated below.



Kodu Project - Drill Hole Details

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Hole AGD66, Zone 55 Kodu Local Grid Hole
No. Coordinates Coordinates Depth
Northing Easting Northing Easting (m) Dip/ Az.
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KD001 8,972,612 564,488 10,074 7,801 543.76 Vertical
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KD002 8,972,446 564,392 9,894 7,867 512.30 Vertical
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KD003 8,972,658 564,624 10,208 7,853 - - 50/140
degrees
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Samples from drill hole KD001 cleared Australian Customs on August 30th and were submitted to ALS Chemex Laboratory, Townsville Australia for analysis. The first batch of assay results are expected to be returned in late September and be reported immediately thereafter.

Drill hole KD002 intersected a 102m interval from surface exhibiting potassic (biotite- k feldspar-quartz) and propyllitically (chlorite-epidote-calcite-magnetite) altered diorite porphyry with disseminated and stockwork pyrite-chalcopyrite +/- molybdenite. The hole then passed into argillic (clay-pyrite +/- sericite) and weakly potassic (biotite- k feldspar-quartz) altered phyllitic schist (metapelite) from 102-326m depth before intersecting a mixed sequence of both argillically altered phyllite and relatively unaltered diorite porphyry dykes from 326-377m . The deepest portion of the hole from 377-512.30m intersected variable argillic and potassic altered phyllitic schist.

Wallrock phyllites contain strong pyrite and molybdenite development in well developed quartz-sulphide veins, but only minor chalcopyrite. The high molybdenite content observed is consistent with elevated molybdenum assay results peripheral to the main porphyry recorded elsewhere in historic drilling. Narrow, strong argillic alteration zones and quartz-sulphide veins within the phyllite also have potential to host higher grade epithermal gold mineralisation.

The interpretation of data from drill hole KD002 is that the hole passed through the south-eastern margin of the moderate to steep north-westerly dipping, mineralised diorite porphyry intrusion into underlying marginal phyllitic schist.

Future drilling will test extensions of the mineralized zones of the Kodu porphyry evidenced by geochemically anomalous soils, and altered and mineralized rock chips, and coincident geophysical targets, both within the diorite porphyry intrusive as well a some of the peripheral epithermal precious metals targets. In detail the program will:

- Attempt to consolidate previous resource estimates, extend mineralisation at depth by up to 200m vertical depth, and better delineate porphyry geometry (KD001-KD002).

- Extend open northerly extensions of mineralisation from historical drill hole BND001 and north-easterly extensions of mineralisation from historical drill hole BND005 around the interpreted northern and northeast margin of the porphyry intrusive (proposed KD003-KD004).

- More effectively test north-westerly dipping mineralisation in the southern central area of the resource in the vicinity of KD002 which passed through the porphyry into marginal phyllite (proposed KD005).

- Test south-westerly extensions of the mineralised system as suggested by a broad phyllic alteration halo, coincident strong gold in soil geochemistry, and analytical signal anomalies. Four historical trenches located 500m south of the current southern extent of the resource have averaged 0.48g/t Au including 14m @ 1.17g/t Au and 4m @ 2.52g/t Au in trench BNT002. Proposed drill hole KD006 will test this area and a 600m drill depth will be required to fully test the multiple targets within the scope of the drill hole or alternatively 2 x 300m holes from different drill pads.

- Test the 'annulus' model on the eastern side of the Mt Bini topographic feature with one drill hole (proposed D007) located over an analytical signal anomaly on the interpreted margin of the diorite porphyry intrusive.

The broad trend of the alteration halo, the anomalous gold in soil trend, existing mineralisation trend, and location of known and interpreted porphyry intrusives (the latter from analytical signal interpretation) all suggest a controlling east-northeast trending (050 degrees) structural corridor hosting mineralisation. Drill holes are consequently generally oriented at azimuth 140 degrees true north, perpendicular to this controlling trend.

VP Exploration - Mr Peter Ruzicka (Bachelor of Science and Bachelor of Applied Science) is the qualified person for the Kodu exploration program and the information contained herein.

South Pacific Minerals is at the forefront of mineral exploration in Papua New Guinea with an effective 85% interest in three porphyry copper /gold +/- molybdenum and epithermal /intrusive related gold exploration licenses, plus 5 EL applications covering a total area of approximately 7,500sq kms. Most of these properties have advanced stage projects with significant known gold +/- copper in trench and drill hole, with additional drill ready targets.

To find out more about South Pacific Minerals Corp. and its exploration projects, please visit our website at www.southpacificminerals.com

South Pacific Minerals Corp

P.A.McNeil, President / CEO M.Sc.

The statements made in this News Release may contain certain forward-looking statements. Actual events or results may differ from the Company's expectations. Certain risk factors may also affect the actual results achieved by the company.

The TSX Venture Exchange has not reviewed and does not accept the responsibility of the adequacy or accuracy of this release.

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