Arc signs contracts to undertake diamond drilling at Trenggalek
Monday, April 22 2013 - 03:16 AM WIB
ASX-listed firm Arc Exploration Limited has signed contracts with GPX Geophysics of Perth to undertake ground IP-Resistivity surveys and PT Maxidrill Indonesia to undertake diamond drilling at Trenggalek.
The company said in quarterly report on Monday that site preparatory work was underway at the end of the quarter with the aim of commencing a geophysical survey in April and drilling soon thereafter.
Exploration expenditure at Trenggalek for the quarter reached US$ 213,400 which was wholly funded by Anglo American.
Sumber Bening, the initial target area, lies on prominent north-northwest-trending structures that cut across a 4km diameter-circular feature on the western side of the IUP.
It contains a large alteration footprint of +5 km x 2km and has returned elevated gold-copper-bismuth-molybdenum-arsenic-antimony geochemistry in previous soil and rock chip samples.
The company in the statement said that TerraSpec analyzes of surface outcrops confirmed the presence of dickite, pyrophyllite and alunite in the vughy silica and clay-rich alteration zones at Sumber Bening which commonly occur in the upper levels of porphyry copper-gold systems.
Editing by Adianto P. Simamora