Arc reports first trenches results from Bima gold project
Monday, December 20 2010 - 02:32 AM WIB
?These are our first continuous-channel results from Kowo and they are very encouraging. As at Baku, the long and widespread gold intersections indicate potential for a large bulk-tonnage gold deposit. Kowo is shaping up as a large gold-base metal target. It may also extend beneath the surrounding cover and point to a porphyry system at depth. We are certainly in the right belt of rocks with the giant Batu Hijau mine at the other end of the island,? managing director John Carlile said on Monday.
The Kowo Prospect in the northern part of the Bima tenement is outlined by a 2 km by 1.5 km exposure of stockworked volcanic rocks surrounded by younger cover. Grab sampling of mineralised stockwork returned up to 0.66 g/t gold, 482 g/t silver, 0.15% copper, 0.9% lead, 0.7% zinc, and 13% barium.
Previous soil sampling highlighted strongly anomalous lead-zinc-barium geochemistry over the stockworked volcanic rocks, including a 200-m by 300-m zone of elevated gold that is interpreted to extend beneath younger cover at the northern end of the anomaly. The first trenches tested this area.
?We have significant further activity planned for the near term. We will continue to test the prospect with more trenching, IP-resistivity and ground magnetic surveys over the Christmas period. Based on the positive results from both Kowo and Baku, drill target definition is well advanced and scout drilling is on target to start in the first quarter of 2011,? John said.
The Bima exploration tenement covers 250 square kilometres and is prospective for intermediate to highsuiphidation epithermal gold and porphyry copper-gold deposits. The project has excellent infrastructure with a network of sealed to graded roads traversing almost all of the tenement area. (kanti)