Augur underway on modeling of exploration targets at Wonogiri project
Saturday, July 27 2013 - 05:17 AM WIB
ASX-listed Augur Resources Ltd, a resource development company with a focus on the Wonogiri gold and copper project in Indonesia reported that the company was underway for further modeling of advanced exploration targets at Wonogiri project located in Central Java.
Detailed exploration by the company has defined the Randu Kuning gold-copper porphyry deposit.
It said that the resource consists of 1.54 Moz AuEq and remains open at depth and to the east and south.
"A number of additional advanced targets have also been identified at Wonogiri," the company said in quarterly report on Thursday.
Augur holds an 80% interest in the Wonogiri project with PT Oxindo (a subsidiary of MMG Limited) holding 10% and four individual shareholders controlling the remaining 10%.
Between 2009 and 2012, modern exploration techniques have been applied to define a highly altered wall rock porphyry gold-copper deposit at Randu Kuning.
In July 2012, Augur announced the maidien JORC compliant resource of 90.9 million tons ('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.
Editing by Adianto P. Simamora