Augur reports further trenching results from C. Java gold project
Monday, April 4 2011 - 03:06 AM WIB
The new trenching results have returned significant zones of gold and copper mineralisation including 98 metres at 0.91 g/t gold and 0.29% copper in trench 5 and 8 metres at 0.72 g/t gold and 0.13% copper and a further 12 metres at 0.59 g/t gold and 0.29% copper in trench 6, the company said in statement.
The trench sampling method used is continuous channel sampling with 2 or 4 metre composites.
To date Augur has completed 1,851 metres of trenching within the northern Wonogiri project area with the aim of better understanding the geology and mineralisation in the area.
Near surface mineralisation at the Randu Kuning prospect consists of gold and copper bearing quartz-limonite, sheeted veins and stockworks hosted within diorite. Drill core indicates that the mineralisation may also be disseminated in a microdacite unit.
The zone of mineralisation is associated with a large (400m x 200m) gold and/or copper soil anomaly above a highly magnetic body. Part of the magnetic anomaly is probably due to potassic alteration associated with a buried intrusive.
Managing Director Grant Kensington commented: ?Our new trenching results and the drilling currently underway continue to support the notion that the area has potential for a large bulk-tonnage gold deposit. We will test other prospects in the northern Wonogiri zone over the next few months as highly anomalous rock chip results have been found beyond the Randu Kuning prospect.
Previous exploration within the prospect carried out by PT Oxindo between 2009 and 2010 was focused on testing porphyry copper targets associated with a modelled magnetic high. Two deep diamond holes were drilled at the Randu Kuning prospect with both intersecting significant gold ? copper mineralisation at depth and which highlighted the potential for a bulk tonnage gold target at the Randu Kuning prospect.
A diamond drill program to test the surface mineralistion exposed in the trenching program and to test previous drill intersections of PT Oxindo continues.
An ongoing trenching program within the Wonogiri project will continue to test areas of mineralised vein systems identified by PT Oxindo. Results from this trenching will be used to further develop drill programs to test these additional prospects. (romel)