Coziron granted extension on due diligence period on W. Sumatra Copper-Gold project

Australian mining firm Coziron Resources Limited said Friday that it has been granted an extension on the due diligence period assigned to the Singkarak Copper-Gold project in West Sumatra.

The extension is duly appointed reflecting new applications by Indonesia partners PT Intan Borneo International and PT Punakawan Sumatera International to increase the tenement holding associated with Singkarak project, Coziron said in statement.

According to Coziron, the changes in tenure will encompass further extension of known outcrop, including low and high sulfphidation copper-gold showings, porphyry copper, and copper skarn contact aureole mineralisation.

Coziron will undertake further due diligence on the new tenement boundaries and in the event the company is satisfied a formal joint venture agreement will be signed.

The Singkarak project consists of two adjacent area blocks covering 200 km2 and situated within the Trans Sumatran Fault Zone (TSFZ), a highly prospective mineralised system that hosts a number of substantial deposits including the Martabe (+3Moz Au), Meluak, Pungkut (610,000 oz Au (Inferred)) gold projects, and Herald Resources? Dairi project containing an inferred resource of 9.3Mt at 7.7 percent Zn, 4.2 percent Pb and 6.0g/t Ag. (denny)