Arc reports high-grade gold/silver intersection at E. Java prospect
Monday, July 26 2010 - 01:55 AM WIB
"This result confirms the in-situ occurrence of gold-bearing veins in the northern part of the Exploration IUP adjacent to widespread gold-bearing vein float shed from multiple sources," the Company said.
Eight scout holes totalling 625 metres have been drilled at Kojan to test three of at least five known veins in this prospect area. These veins are part of a north-northwest trending multiple vein swarm. Each has been traced at surface for at least 100 to 250 metres strike-length with widths ranging from less than 1 to over 5 metres.
All eight holes intersected gold mineralisation and contained significantly higher silver values than other prospects in the Trenggalek IUP. These holes have tested only a small part of this large multiple vein system to a shallow depth of about 75 metres. Further potential exists along the veins and below the currently shallow depths of investigation.
The best hole, TRDD-35, intersected 1.9 m at 11.28 g/t Au & 293 g/t Ag within a wider zone of 6.6 m at 4.89 g/t Au & 149 g/t Ag obtained from 62.45 m down-hole. This intersection occurs about 30 m below (down-dip) of a narrower low-grade vein intercept of 1.3 m at 1.45 g/t Au & 62 g/t Ag obtained from 23.7 m down-hole in TRDD-34.
Holes TRDD-34 and TRDD-35 were drilled on a single section across the Kenong Vein. The geology of these mineralised intercepts is indicative of a shallow preserved epithermal environment represented by lattice-bladed and colloform banded chalcedony-quartz-adularia veins hosted in locally sulphidic hydrothermal and other intrusive breccias. The results suggest that the vein is thickening and increasing in gold and silver grade with depth.
The initial scout drilling at Kojan has achieved its objective to demonstrate in-situ high-grade gold mineralisation in the northern part of the tenement.
The proximity of the gold-bearing Kojan vein system to the high-grade gold-bearing boulder field north and east of Kojan is encouraging and suggests that there are multiple vein sources in this northern area. A program of grid-based soil sampling and prospecting is in progress to help identify targets for future drill testing in this area.
A total of 35 holes in 3,770 m have been drilled to date in the scout program at Trenggalek, which represents about 75% of the 5,000 m program planned for this year.
The Company has three projects. Trenggalek, in East Java, the subject of this announcement, Bima in East Sumbawa, and a Strategic Alliance with the Anglo American group in Papua.(kanthi)