Archipelago announces encouraging drilling results at Toka Tindung Mine
Monday, July 9 2012 - 10:10 AM WIB
UK-listed mining firm Archipelago has announced encouraging drill results from two of its high grade southern satellite pits, located in close proximity to the Toka Tindung Mine in North Sulawesi.
It said that at the Blambangan deposit, results to date from 28 holes (3,918 m) of reverse circulation ("RC") drilling returned multiple gold intercepts, including the following: 24.0m at 5.64g/t (BP020, 16 - 40m); 34.0m at 3.27g/t (BP016, 6 - 40m); 14.0m at 8.03g/t (BP015, 0 - 14m); 9.0m at 10.06g/t (BP010, 20 - 29m); 10.0m at 5.59g/t (BP007, 38 - 48m); 3.0m at 12.82g/t (BP005, 119 - 122m); 5.0m at 6.10g/t (BP004, 121 - 126m)
At the Pajajaran deposit, results from 24 holes (3,200m) of RC drilling, and 9 holes (699m) of diamond drilling also returned multiple gold intercepts, including the following: 8.0m at 8.80g/t Au (PJJ003, 143.3 - 151.3m); 15.1m at 4.10g/t Au (PJJ003, 165.6 - 180.7m); 16.0m at 3.33g/t Au (PJJ024, 93.0 - 109.0m)
"These initial drilling results from two of our high grade satellite deposits, Blambangan and Pajajaran are encouraging and confirm the significant mineralisation and resource prospectivity at the Toka Tindung Mine. We envisage further positive drilling results from these and other deposits in the near future." Marcus Engelbrecht, Managing Director and CEO said.
It said that the drilling results support Archipelago's view of greater mineralisation existing along strike and at depth across the Toka Tindung Mine, in addition to the existing resource of 2.58M oz Au @ 1.53 g/t (or 2.69M oz Au Eq).
Editing by Adianto P. Simamora