Hillgrove Resources completes initial drilling at Greencliffs
Thursday, February 28 2013 - 06:18 AM WIB
ASX-listed Hillgrove Resources recently stated it has received final assays result for its initial drilling programme at Greencliffs Prospect, at Birds Head, West Papua, along drainages east and west of the main West Delta corridor.
"The result confirmed the presence of widespread molybdenum mineralisation and associated elevated copper values consistent with a near-porphyry environment," the company said in a statement made available at the exchange.
On the Bird?s Head Copper/Gold Project, a total of 10 holes for 4,911 metres were drilled, testing structural, geological, geochemical and geophysical targets. Assays for the final three holes were in line with earlier results, revealing significant molybdenum mineralisation with attendant copper mineralisation, interpreted to be a structurally-controlled alteration halo proximal to a porphyry source.
Better molybdenum intercepts include WDD-021:18m @271 ppm Mo from 339m, WDD-022:18m @ l49ppm Mo from 180m 15m @ l03ppm Mo from 254m 12m @ 106ppm Mo from 430m.
The company is currently assessing alternative external funding arrangements to support the next stage of exploration programs at both the Birds Head and Sumba projects.
Editing by Er Audy Zandri