Augur gets JORC estimate for Randu Kuning, Wonogiri Project
Tuesday, July 31 2012 - 01:51 PM WIB
ASX listed resource development company Augur Resources Ltd recently said it has acquired the estimated resource at its Randu Kuning gold copper deposit within the Wonogiri project in Java, estimated at 90.9 Mt at 0.53 g/t AuEq (0.35 g/t gold and 0.10% copper) using a cut-off of 0.2 g/t AuEq.
The resource estimate includes the oxide, transition and sulphide components of the deposit, in which the sulphide component accounts for 95.7% of the resource estimated tons (at a 0.2 g/t AuEq cut-off). The resource was estimated using Inverse Distance techniques based on a total of 55 diamond drill holes generally drilled on fences of 50 meters spacing. Computer Aided Geoscience Pty Ltd was commissioned to undertake an independent resource estimate in accordance with the JORC Code.
The company said in its June 2012 quarterly report submitted to the Australian Stock Exchange that it has earned 51 percent stake in the Wonogiri project, which under the earn-in agreement, can increase its ownership to 80 percent by expenditure of a further $225,000 on exploration and development.
"The Randu Kuning prospect contains a highly altered wall rock porphyry. Mineralisation is associated with quartz stock working and as disseminated mineralisation within a series of micro-diorite to medium grained diorite intrusives. Essentially the mineralisation is a coherent near vertical deposit which has been identified to a depth of at least 450 metres and remains open at depth, to the west and to the south," the company said.
Further metallurgical testing of the Ranclu Kuning minealisaton was undertaken during the quarter, confirming excellent recovery of metals from the mineralisation with floatation recovers of up to 89.0% of gold and 93.4% of copper. Further improvement of the gold recovery is likely with the addition of a gravity collection circuit.
Augur commenced optimisation testing of the sulphide mineralization during the quarter. High quality marketable concentrate grades of up 1021.2% COPPCF and 90.6 g/t gold were achieved. Further optimisation testing will be undertaken with the aim of improving the concentrate grade and recovery.
Editing by Er Audy Zandri