Gulf Mines announces sampling results of West Timor copper prospect
Wednesday, March 5 2014 - 07:27 AM WIB
ASX-listed Gulf Mines Limited announced on Wednesday further sampling results from the West Timor copper prospect. The sampling was carried out by geologists of Asia Minerals Corporation on behalf of Gulf Copper Pty Ltd, a subsidiary of Gulf Mines Limited (Gulf).
The tenement on which the copper occurrences sit, expired on Aug. 30, 2013. An application has been submitted to regional government to have the license agreement renewed. Gulf Copper has commenced with an environmental impact analysis (AMDAL) as part of the process. Once the license application is granted, Gulf has an option to acquire 70% of the project for US $500,000 paid in two tranches, as announced on the 25th of November 2013.
The area of interest is located 8 km south east of Atapupu, Nusa Tenggara Timur province. Two reconnaissance trips were completed to the area late 2013 by geologists of Asia Minerals Corporation. During which 10 surface samples were collected. The results of these sampling programs are summarized
| UTM_EAST | UTM_NORTH | Sample_ID | Sample_Type | Cu_NITON₁ | Cu_INTERTEK₂ |
| 710945 | 9001099 | 1106 | GRAB | 12.19% | ? |
| 710934 | 9001094 | 1107 | GRAB | 7.90% | ? |
| 710938 | 9001096 | 1125 C | CHANNEL | 8.03% | 6.43% |
| 710938 | 9001096 | 1125 G | GRAB | 8.76% | 7.21% |
| 710912 | 9001067 | 1126 C | CHANNEL | 7.92% | 6.67% |
| 710912 | 9001067 | 1126 G | GRAB | 6.77% | 4.88% |
| 710912 | 9001067 | 1127 C | CHANNEL | 10.05% | 8.71% |
| 710912 | 9001067 | 1127 G | GRAB | 12.43% | ? |
| 710926 | 9001051 | 1128 C | CHANNEL | 9.32% | ? |
| 710926 | 9001051 | 1128 G | GRAB | 10.44% | ? |
Gulf's subsidiary, Gulf Copper Pty Ltd, is currently putting together an exploration program to test the potential of the tenement. Field mapping will commence as soon as the wet season is over. Should the field mapping deliver positive results additional work will be required. It is envisaged that ground geophysics surveys will be conducted during 2014.
Gulf Chairman Peter Remta commented:"Work is proceeding now the wet season is drawing to a close which will enable planned field work to be undertaken. Gulf is hopeful the tenement may replicate other regional copper projects".
Editing by Johannes Simbolon