Augur reports first drill results from C. Java gold project
Wednesday, April 27 2011 - 03:51 AM WIB
Hole WDD001 was drilled to test a significant gold anomaly defined during recent trenching at Randu Kuning. Results from the first 70.9 metres of hole WDD001 have been received. These results are extremely encouraging with a significant broad intersection of gold returning 53.6 metres at 1.40 g/t gold and 0.30% copper from just 8.2 metres. Assay results for the remainder of the hole are pending, the company said.
Hole WDD001 is the first hole in the drill program to test the main trench gold anomaly which the Company has identified at Randu Kuning. Further drilling will be undertaken at Randu Kuning and? at a number of geochemical anomalies within the Northern Wonogiri region.
Managing Director Grant Kensington commented: ?The results from the first 70.9 metres at Randu Kuning show a wide zone of gold mineralisation. This hole was collared within the mineralised zone so it may not have tested the full width of the gold zone. The results are consistent with Augur?s trench results and the historic PT Oxindo drill results. The area has the potential to host a large bulk-tonnage gold deposit.?
The results support previously reported trenching results which have returned significant zones of gold and copper mineralisation at Randu Kuning including:
? 102.0 metres at 1.12 g/t gold and 0.15% copper (trench 3);
? 98.0 metres at 0.91 g/t gold and 0.29% copper (trench 5); and
? 8.0 metres at 0.72 g/t gold and 0.13% copper and a further 12.0 metres at 0.59 g/t gold and 0.2 9% copper (trench 6).
The results also support PT Oxindo?s hole DDH1 which was drilled perpendicular to the Augur hole WDD001. Hole DDH1 returned 40 metres at 1.12 g/t gold and 0.29% copper from 92 metres depth and a further 15 metres at 1.61 g/t gold and 0.20% copper from 137 metres. A second PT Oxindo hole was collared 285 metres to the southeast of WDD001 and drilled towards WDD001, intersected 37 metres at 1.77 g/t gold and 0.24% copper from 458 metres.
Three holes have been drilled by Augur to date during the current drilling program and if results continue to be highly favourable an additional drill rig will be mobilised to site. (romel)