Augur: Further gold in main target at Jampang
Friday, July 2 2010 - 01:15 AM WIB
The results from JADD11 returned 20.2m at 1.43 g/t gold, 5.22g/t silver and 0.21% copper from 71.5m depth.
Hole JADD11 is approximately 240m north of the previously reported hole JADD10 (36m at 1.74 g/t gold, 0.89% copper and 7.95 g/t silver from 28.6m). These two holes are the first holes drilled by Augur within the Lipi deposit. The holes JADD10 and JADD11 support the historical exploration results and are very encouraging with regards to the extent of the gold mineralisation at Lipi.
The gold mineralisation at Lipi is hosted in dacite and hydrothermal breccias. The host rocks have been extensively altered with strong silification common. Copper content appears to be increasing in a southward direction. While gold remains the primary sought commodity at Jampang, copper may also have a positive economic impact.
Augur has commenced a detailed resource drilling program to define the extent of the mineralisation at Lipi. The success of the drilling program thus far highlights the prospectively of the central Jam pang Gold project area.
Augur is currently focussed on the Lipi prospect. The drilling of hole JADD15 is underway. Core from holes JADD12 and JADD13 is currently awaiting analysis. Geological logging of hole JADD14 is underway.
A detailed ground magnetic survey has commenced with the aim of defining additional drill targets, in particular to the east and west of the Lipi mineralisation.
Augur has planned a detailed drill program with the aim of defining an initial JORC compliant resource by late 2010. The resource is expected to include mineralisation within the Lipi and Puteran-Simpang prospects.
Augur is also planning for a substantial RC drilling program to test a number of geophysical and geochemical anomalies outside of the known areas of mineralisation. This program is expected to commence in the-near future. (ends)