Arc updates drilling results from E. Java gold project
Wednesday, October 6 2010 - 02:40 AM WIB
Several other prospects and geochemical anomalies within the IUP tenement area are yet to be tested by scout drilling.
Summary Description of Drilled Prospects:
Sentul Prospect
The veins are up to 10-15 m wide and have greater than 10 km collective strike length to date. The veins host high-grade intervals. Highlights include: 2.0 m at 17.2 g/t Au & 13 g/t Ag within an intersection of 9.6 m at 4.5 g/t Au & 8 g/t Ag from 111.3 m in hole TRDD-4.
Kojan Prospect
The prospect hosts multiple parallel veins up to 5 m wide having a collective strike length of several kilometres and notably high silver grades. Highlights include 1.9 m at 11.3 g/t Au & 293 9/t Ag within an intersection of 6.6m at 4.9 g/t Au & 149 g/t Ag from 62.4 m in hole TRDD-35.
Buluroto Prospect
Drilling indicates potential for near surface gold and possibly gold-copper resources in mineralised breccia (e.g. 27 m at 0.49 g/t Au & 0.19% Cu in TRDD-25) developed at the intersection of two epithermal veins. A mineralised porphyry-style gold-copper system may occur at depth or adjacent to the breccia. Highlights include 2.0 m at 8.7 g/t Au & 48 g/t Ag within an intersection of 13.7 m at 3.2 g/t Au & 60 g/t Agit from 13.4 m in hole TRDD-37.
Dalangturu Prospect
While no discrete veins were intersected, the alteration system is gold bearing and anomalous in arsenic, antimony and bismuth. An intersection of 31 m grading 0.11 g/t gold from 74.3 m in hole TRDD-20 confirms this.
Trenggalek Further Potential:
The gold mineralisation intersected at Sentul, Kojan and Buluroto is open in all directions and at depth and less than 20% of each system has been drill tested so far. The likelihood of finding high-grade ore shoots within these systems is therefore considered to be high. The prospectivity is further enhanced by the fact that all the prospects lie on structural lineaments that extend for several kilometres outside the immediate prospect areas. The extent of gold mineralisation identified at each of these prospects may well be expanded through further exploration that is currently underway.
Several other prospects and geochemical anomalies within the IUP are yet to be tested by detailed surface exploration and scout drilling. These include silica cappings, jasperoids and hydrothermal eruption breccias, with coherent and coincident gold-arsenic-antimony-mercury surface geochemical anomalies that occur in the north-eastern part of the IUP tenement. These suggest the presence of an extensive (~50 km2) partly eroded geothermal palaeosurface with exploration potential at depth for gold-bearing veins, stockworks and breccias.
The initial scout drilling has confirmed the potential for defining multiple gold resources in an extensively mineralised epithermal field that is largely underexplored. Further surface work is being undertaken for the remainder of 2010 and more drilling is proposed for 2011 with the objective of moving towards resource estimation.
Surface work and scout drilling will also test the potential of the anomalous silica cappings/hydrothermal breccias and any new targets generated in the area of high grade boulder float. These areas include the Jati, Suruh, Gregah and Timahan prospects.
Indonesian Exploration Strategy:
Through Trenggalek the Company has secured a strategic position under the new Indonesian IUP tenement system in an emerging gold and gold-copper mineral province located along one of Indonesia?s many fertile magmatic arcs.
The Company also has a 95% joint venture interest in the Bima Exploration IUP in East Sumbawa and a Strategic Alliance with the Anglo American group to explore for copper-gold in Papua.
ARX is also actively seeking to expand its tenement position in Indonesia through securing further IUPs. (end of release)