Elysium Resources: Soil sampling, mapping commences at Malang project
Wednesday, November 27 2013 - 01:17 AM WIB
ASX-listed Elysium Resources Limited announced Wednesday that a surface mapping and soil sampling program has commenced at its Malang copper and gold project in Indonesia. Elysium has provided the initial funding to commence field exploration on the exploration property some 60km to the Southeast of city of Malang in East Java.
The program of work to be carried out by Elysium's Indonesian partner, PT Gata Sumbar Daya, will entail reconnaissance mapping over the entire lease with more detailed project scale mapping over the 4 identified prospects. Significant soil, stream and rock chip sampling is planned to consolidated earlier reconnaissance work which identified the potential for large scale porphyry targets in the region.
The exploration program is expected to be carried out throughout the first quarter of 2014. Airborne geophysics will be considered following the current work program with the aim of identifying drill-ready targets by the second half of 2014.
A community engagement program has commenced with local personnel being employed to supplement the exploration crews. Community meetings have identified the need for fresh water to be piped to the village nearest the project which the company is seeking to address and ensure the full support for the exploration effort continues.
Elysium Resources announced on August 9 of this year it had signed a Heads of Agreement (HoA) with PT Gata Sumber Daya (Gata), through its proposed subsidiary, to earn 67.5 percent of the Malang Project, by advancing the exploration efforts at the copper and gold targets.
Editing by Reiner Simanjuntak