Augur intersects significant gold-copper porphyry at C. Java project
Wednesday, May 25 2011 - 01:50 AM WIB
Teh firm said on Wednesday Significant gold and copper was intersected in hole WDD005, with a zone of 105.5 metres of 0.95 g/t gold and 0.24% copper from just 14.0 metres depth. This zone includes 2.0 metres at 6.06 g/t gold and 1.0% copper from 40.5 metres depth. While the zone reported here commenced at 14.0 depth, anomalous gold was detected from surface indicating that further mineralisation may exist to the west of the hole collar, the company said.
WDD005 was drilled approximately 60 metres to the west of hole WDD001. Final results for the mineralised zone of WDD001 were also received with an interval of 59.1 metres at 1.31 g/tgold and 0.30% copper from 7.7 metres depth detected.
Augur has also received the first 92.5 metres of hole WDD006. This hole was drilled to the west of and below hole WDD004 (37 metres at 1.23 g/t gold and 0.44% copper). Two zones of mineralisation were detected including a shallow zone of 32.5 metres at 0.66 g/t gold and 0.13% copper from 5.0 metres. A further 43.0 metres at 1.55 g/t gold and 0.27% copper from 49.5 metres was also detected and remains open at depth. Potential remains for additional mineralisation to the west of the WDD006 collar.
Data from local geology and recent drilling indicates that the mineralisation at Randu Kuning is related to a near vertical gold-copper porphyry within a large eroded volcanic centre, possibly related to a northward migrating Oligocene to Miocene volcanic Arc. A number of significant porphyry deposits (+/- associated epithermal mineralisation) sit along this zone including Newmont Mining Corporation?s operation at Batu Hijau (914Mt at 0.53% Cu and 0.40 g/t gold), Newmont?s Elang deposit on the island of Sumbawa and Intrepid Mines Tujuh Bukit (990Mt at 0.40% copper and 0.45 g/t gold) in eastern Java.
Mineralisation within the porphyry at Randu Kuning is contained within extensive stock working and sheeted veins hosted within a micro-diorite and as disseminated copper +/- gold within the mirco-diorite body itself.
Additional mineralised areas exist in the immediate areas surrounding Randu Kuning. Augur has escalated the current trenching program after identifying a number of additional targets and is currently undertaking a detailed assessment of each of these prospects with the aim of commencing drill testing of the most promising zones during 2011.
Augur will focus initial drilling at the Randu Kuning prospect with the intention of estimating an initial JORC compliant resource covering the shallower portion of the porphyry deposit by the last quarter of 2011.
Managing Director Grant Kensington commented: ?The mineralised system at Wonogiri is interpreted to sit in an eroded caldera volcanic centre. This is one of a number of such centres along the Sunda Banda Arc which stretches from Sumatra through Java to east of Sumbawa.
The Randu Kuning prospect is looking very encouraging with the mineralised porphyry zone still open to the west, north and south. While our focus is currently on the Randu Kuning area, there are strong indications of epithermal gold-silver mineralisation in the Randu Kuning surrounds and additional stream gold anomalies in the south of the licence area which may be related to yes another zone. Along with the current trenching program we are planning to undertake some ground magnetic surveys to aid in the identiflcation of targets.?
Augur is awaiting results for hole WDD002 which tested the eastern extent of the profile containing holes WDD004 and WDD006. Augur is currently using two laboratories in Indonesia to improve turnaround time on sample analysis.
Diamond drilling on a 50 by 50 metre grid is occurring at Randu Kuning prospect to test the surface mineralistion exposed in the trenching program and to test previous drill intersections of PT Oxindo, it said.
An ongoing trenching program within the Wonogiri project will continue to test areas of mineralised vein systems identified by PT Oxindo and Augur. Results from this trenching will be used to further develop drill programs to test these additional prospects. (romel)