Hillgrove updates Indonesia gold, bauxite projects
Tuesday, September 28 2010 - 02:32 AM WIB
Key highlights
Sumba Island Gold Project - East Nusa Tenggara
Hillgrove is an 80% beneficial shareholder in PT Fathi, which holds exploration and mining business licenses on the island of Sumba
- Rights cover almost 1,000 km2 for a period of six years
Hillgrove is responsible for the sole funding and management of all exploration and development activities up to a decision to mine
Main projects: Masu and Tanah Dard
- Exploration activities have been predominantly focussed on the Masu project
Trenching, soil sampling and diamond drilling in Masu have proceeded with significant success
- MADPH003: 6.45m ? 4.14 g/t Au
- MADPH013: 13m @ 2.0 g/t Au
- MADPH014: 8.05m ? 1.28 g/t Au
- MADPH015: 10.05m @ 3.4 g/t Au
Bird?s Head Project ? West Papua
Hillgrove is an 80% beneficial shareholder in PT Akram which holds exploration and mining licenses in the Bird?s head area of the autonomous region of West Papua
- Rights cover almost 1,000 km2 for a period of six years
Hillgrove is responsible for the sole funding and management of all exploration and development activities up to a decision to mine
Bird?s Head covers part of the interpreted westward continuation of the New Guinea ?Orogenic Belt,
- Considered highly prospective for copper-gold mineralization
- Exploration is focussed on defining Cu/Au mineralisation associated with an interpreted porphyry complex and an extensive hydrothermal alteration system
Ex Normandy project HGO has acquired drilling and geophysics data among other key data
Significant interest in HGO licenses and activity from top six major world copper miners
Bauxite Tenements ? West Kalimantan
Options in place to acquire a 70% interest in exploration permits at Landak an Tayan South covering approx. 1,400km2 in West Kalimantan
Tenure in the heartland of Indonesia?s emerging bauxite province
Exploration underway: Targeting definition of bauxite distribution over sufficient area to justify exercising options
- Broadly-spaced test pitting targeted favourable geomorphologic features in the southern portion of the Landak licences
Exploration activities to date have included extensive socialisation of local landowners and communities ahead of reconnaissance test pitting
Hillgrove has agreed to transfer these options to its 84.8% owned subsidiary InterMet Resources Limited (ITT), subject to ITT board and shareholder approval. (end of edited excerpt)