Golden Valley Mines drilling result in Bukit Hijau
Friday, August 25 2000 - 03:30 AM WIB
Golden Valley Mines NL advises that it has now received the remaining results (holes GTO13b and GTO14) from its recent drilling programme carried out on the Tumpangpitu Prospect, forming part of the Bukit Hijau Joint Venture, East Java, Indonesia.
The 6 month work programme completed in conjunction with and funded by Placer Dome Inc culminated in the drilling of 10 holes for a total of 2,134.9m. Encouraging results were obtained from 5 holes, including the most recently completed holes, GTO13b and GTO14.
Holes GT010, GT012 and GT014 are contained within a mineralized horizon, to date varying in thickness from 10 to approximately 50m, and interpreted to be up to 1,000m long. The indicated area of mineralisation has the potential for a substantial oxide resource down to 150m to 200m below surface. There is potential for additional oxide resources around GT011, which has an interpreted strike length of approx 500m, and also around GT005 (65.0m @ 2.22g/t Au, 14.5g/t Ag) which was drilled last year. (*)