Arc: Danusa begins exploration drilling at Trenggalek project
Wednesday, February 10 2016 - 02:44 AM WIB
ASX-listed Arc Exploration Limited announced Wednesday the commencement of the first phase of exploration drilling by its new exploration partner, PT Danusa Tambang Nusantara, on the Trenggalek gold and copper project located in East Java.
The company said in a statement that while recognising the porphyry gold-copper potential of the Trenggalek project identified during the Anglo American Joint Venture, Danusa will initially concentrate on exploring and evaluating the epithermal gold veins.
Previous drilling on the Sentul and Buluroto prospects, located in the southeastern segment of the IUP tenement area, returned some significant gold and silver intersections including 9.65m @ 4.5 g/t Au & 8 g/t Ag at Sentul and 13.7m @ 3.2 g/t Au & 60 g/t Ag at Buluroto.
Danusa is managing and fully funding the exploration program, Arc said.
Arc Managing Director, Jeffrey Malaihollo, commented: ?We are pleased to announce the commencement of a new phase of drilling on the Sentul and Buluroto prospects, where previous drilling campaigns have returned some significant gold intercepts. Only about 5-10% of the total strike-lengths of both vein systems have been previously drill tested. The current drilling programme will step-out from the previous drilling and test the greater part of each vein system for a potential gold resource. We will keep the market informed of progress at Trenggalek when the results are available.?
Editing by Reiner Simanjuntak