Arc awaits renewal of forestry use permit for Trenggalek project
Monday, July 23 2012 - 03:48 PM WIB
Australian-listed gold miner Arc Exploration said that it is carrying on limited exploration in non-forestry areas of the Trenggalek, East Java, whilst the company awaits for renewal of the forestry use permit from the Indonesian Ministry Forestry.
The company has a joint venture with PT Sumber Mineral Nusantara, which holds the Trenggalek Exploration IUP license covering an area of 30,044 ha (~300 km2) in the Southern Mountains of East Java.
The company claimed that the region has excellent potential for major gold-copper deposits, as demonstrated by the discovery of the Tumpangpitu porphyry copper-gold deposit by Intrepid Mines at their Tujuh Bukit Project.
Gold mineralisation at Trenggalek occurs in intermediate-sulphidation epithermal quartz vein systems associated with hydrothermal breccias and silica cappings in volcanic rocks and limestone. The IUP area is also prospective for replacement-style (jasperoid) gold and porphyry-related copper-gold mineralization.
It noted soil sampling activity continued at Sumber Bening Prospect within Trenggalek project.
ARC said in the second quarter it spent A$111,695 for exploration expenditure of the Trenggalek project.
Editing by Roffie Kurniawan