Austindo reports new high-grade vein float founded on E. Java project

Australian mining firm Austindo Resources Corp. NL announced Monday that new high-grade vein float has been identified at its Trenggalek project in East Java.

 

The project area is underlain by prospective Oligocene-Miocene age volcanic and sedimentary rocks. The geological setting of this area is similar to that of the Company’s Cibaliung mine development in Banten province on the western side of Java but in contrast the Trenggalek project area contains no history of gold mining, the company said.

 

The encouraging results of the recent prospecting and vein-float sampling are the Kojan Prospect contains a series of sub-parallel quartz-chalcedony-sulphide veins, some of which are up to 2 in wide and with strike-lengths of up to 500 m or more. Recent grab sampling from old trench spoil and patchy outcrops on some of these veins has returned high-grade gold and silver results of up to 28.6 g/t Au and 1000 g/t Ag. Only one of the vein structures was drilled by a previous explorer, and this produced low results from three widely spaced and poorly placed holes.

 

Mineralised vein float was discovered on a ridgeline located on the northern edge of a hydrothermal eruption breccia defining the Jati Prospect. Four separate grab samples returned gold results ranging from 8.8 to 28 g/t Au from angular banded quartz-chalcedony vein-float cobbles, varying in size from 10 to 35 cm diameter. These four high-grade gold results are distributed over about 200 m along the same ridge-line.

 

Silicified hydrothermal breecia and quartz-chalcedony-sulphide vein boulders were discovered along creeks draining the Jombok Prospect. The boulders show locally strong concentrations along several tributaries within the prospect area are angular to subangular in shape, and range in size from about 30 cm to up to 2 m in diameter. These features are collectively interpreted to reflect a number of localised sources rather than significant transportation from a single source. Grab samples of this float have returned up to 45.8 g/t Au in banded vein boulders or in banded vein clasts selectively sampled from breccia boulders.

 

The Dalangturu Prospect, located northeast of these new high-grade vein-float occurrences, contains mineralised vein stockwork surrounding high-level exposures of silicified breecia caprock and silica sinters. Selective chip sampling of narrow veins (<0.1-30 cm wide) within the stockwork has returned gold results ranging from less than 1 to up to 12.7 g/t Au. No gold but up to 2 ppm Hg (mercury) and 160 ppm Sb (antimony) have been returned from the silicified breccia caprock and silica sinters.

 

Many of these prospects lie within forestry production areas and require an access permit to undertake surface disturbance activities such as trenching and drilling. This permitting process is near completion, the company added. (denny)