The discovery by CSIRO scientists of the richest gold, silver, copper and zinc sulphide deposit ever found on the ocean floor has led to the granting of what are believed to be the world's first deepsea exploration titles for these minerals.

The series of deposits was found by an international team aboard the CSIRO research vessel Franklin, led by Dr Ray Binns of CSIRO Exploration and Mining, at depths of 1200-1700 metres in the Manus Basin, part of the Bismarck Sea, off New Britain.

The discovery has sparked renewed international interest in the possibility of economic mineral production from the seabed, and resulted in the granting by PNG authorities of two underwater exploration and development licences to Nautilus Mineral Corporation PL.

"There are two fields which have proved so far to be rich in minerals, the PACMANUS hydrothermal field and the SuSu Knolls," Dr Binns says.

The Chief Executive of Nautilus, Mr Julian Malnic, says the deposits represent an entirely new kind of mining opportunity and may offer a viable alternative to mining on land.

Talent available for interview
Dr Ray Binns, CSIRO 02 9490 8741
02 4883 6069 (ah)
Julian Malnic, Nautilus Mineral Corporation 02 9360 2941

For media assistance:
Chris Priday, CSIRO 02 9490 8247

Vision opportunities:

A one and a half minute segment showing the underwater seabeds, work aboard the Franklin and land exploration through a helicopter is available on broadcast quality footage. Contact: Nick Pitsas, CSIRO Publishing 03 9662 7605