Augur seeks production IUP license for Wonogiri project
Thursday, January 28 2016 - 02:28 AM WIB
ASX-listed Augur Resources Ltd said Thursday it has submitted application for an aggregate production IUP license over area selected for potential quarry development at the Wonogori gold and copper mine in Central Java.
The company said in a statement it is currently evaluating several aggregate production scenarios with interested contractors who would provide quarry development and production management services.
?It is clear from the earlier market study and related discussions with industry consultants that there is strong demand for high quality aggregate throughout Java to supply ongoing and planned infrastructure projects as part of an extensive transportation upgrade initiative by the Indonesian Government,? Augur said in the statement.
In April of last year, Augur said it has completed testing of two waste rock composite samples, the results of which indicate that the Randu Kuning waste rock at Wonogiri mine has the properties required to be highly suitable for a variety of stone aggregate uses including concrete.
Elsewhere, Augur said in the Thursday statement that at the Wonogiri project, the company has discovered the Randu Kuning gold‐copper porphyry deposit and defined a resource of 1.54 million ounces gold equivalent (AuEq). The Randu Kuning deposit remains open at depth and to the east and south.
The JORC compliant resource comprises 90.9 million tons at 0.53 g/t AuEq (0.35g/t gold and 0.10% copper), using a cut‐off of 0.2 g/t AuEq.
Augur holds a 45 percent economic interest in the Wonogiri license. Another key shareholder in the project is Indonesia?s Rajawali Corporation.
Editing by Reiner Simanjuntak