Arc Exploration, Anglo American enter into a deal on Trenggalek Project

By Ruli Setiawan

Australian-listed gold miner Arc Exploration Limited announced that it has entered into an agreement with Anglo American covering its Trenggalek Project in East Java, the company said on its website.

Anglo American has recently undertaken high resolution airborne magnetic and radiometric surveys over the entire 300 km2 Trenggalek IUP tenement and is currently carrying out ground geochemical sampling and mapping in selected areas.

It said that flying of the airborne surveys was complete and data processing and interpretation are under way along with surface geochemical and geological surveys aimed at obtaining new data in order to identify porphyry copper-gold systems and generate additional targets for further exploration.

Following completion of the surveys and evaluation of results Anglo American may elect to move forward and earn a majority interest by sole funding ongoing activities at the Trenggalek Project, it said.

Editing by Adianto P. Simamora