Arc, Anglo expand W. Papua copper-gold exploration portfolio

Australian metal explorer Arc Exploration Limited announced on Wednesday that two new exploration titles have been granted in West Papua around the Aisasjur Project pursuant to the Company's Strategic Alliance with PT Minorco Services Indonesia of the Anglo American Group.

The Aisasjur Project is located on the medial Papua-New Guinea magmatic arc which is host to the giant copper-gold and gold deposits of Grasberg, Ok Tedi and Porgera. The original Aisasjur Exploration KP (KP#1) licence covers 9,486 hectares in West Papua.

The new exploration KP's (KP#2 and KP#3) are located to the North and Northwest of KP#1 and add a total of 51,410 hectares to the project area.

KP#2 and KP#3 are valid for an initial one-year term to 4 December 2009 and have a General Survey Status. The Project KP's are each held by P.T. Alam Papua Nusantara. Two additional exploration KP have also been applied for in the Aisasjur Project area and are awaiting approval.

Anglo propose to undertake an aeromagnetic survey of the entire project area during the course of 2009.

The focus of the Alliance with Anglo is to explore for large copper-gold porphyry deposits in the Provinces of Papua and West Papua in Indonesia.(alex)