Arc identifies new gold prospect at Bima project
Monday, July 19 2010 - 03:36 AM WIB
?Arc has identified a new prospect with geological and geochemical characteristics of a large high sulphidation-style epithermal gold target lying in the same belt of volcanic rocks hosting Newmont?s giant Batu Hijau and Elang copper-gold deposits in West Sumbawa,? the company said.
The grade and distribution of gold results, and the widespread alteration, indicates that the mineralised system is potentially large and has bulk tonnage gold potential, it said.
Arc recently conducted 1:50,000 scale litho-structural interpretation of its Bima IUP using high-resolution satellite-based imageries, spectral processing of Aster imagery, compilation of historical exploration data, and regional mapping.
The area was first identified by a previous explorer in the late 90?s. A short program of mapping and rock chip sampling was undertaken just prior to their withdrawal from Indonesia. That work produced elevated gold assays ranging from 0.64 to 2.24 g/t Au, and a single high-grade result of 27.2 g/t Au.
Arc has now validated this gold anomaly with five samples that returned results of 0.29 to 2.75 g/t Au, and anomalous silver (Ag) and antimony (Sb) results ranging from 1 to 23 g/t Ag and 22 to 48 ppm Sb, respectively.
Arc will now conduct detailed surface exploration at Baku with the objective of rapidly advancing this and other prospects to the scout drilling stage to be undertaken in 2011, subject to funding. (kanti)