Kingsrose: High grade veining intersected at Talang Samin
Thursday, November 27 2014 - 01:12 AM WIB
ASX-listed Kingsrose Mining Limited said Thursday that underground development at the advanced exploration prospect Talang Samin, located 800 meters from the Talang Santo gold and copper mine in southern Sumatra, has intersected the interpreted vein and alteration sequence identified by previous drilling (DDH 180 and DDH 168) and lateral development has commenced.
The company said in a statement that development is currently being undertaken on the higher grade vein which has returned individual high grade face samples including:
? 0.2m @ 18.2 g/t Au & 12.8 g/t Ag
? 0.8m @ 7.3 g/t Au & 9.8 g/t Ag
? 0.4m @ 10.8 g/t Au & 15.3 g/t Ag
The intersection of DDH 180 lies approximately 70 meters to the North West of this development with the system remaining open along strike and at depth.
? DDH 168 6.2m @ 3.9 g/t Au and 14.2 g/t Ag from 234.6m
(including 0.2m @ 20.3 g/t Au and 1,049 g/t Ag)
? DDH 180 4.8m @ 4.3 g/t Au and 5.5 g/t Ag from 73.8m
(including 0.5m @ 32.2 g/t Au and 30.4 g/t Ag
The work at Talang Samin (albeit at a relatively early stage) forms part of the second tier of the company?s growth strategy. The evaluation of the mineralization and production potential at Talang Samin will be undertaken via development over the next 8-12 months, the company said.
The immediate objective is to gather sufficient information to warrant any further decision to advance to a production phase, and provide continued support for the potential within the broader Talang Cluster.
Kingsrose Managing Director, Scott Huffadine commented; ?This early development confirms the previous limited drilling results, we will now undertake the work required to ascertain the full potential at Talang Samin. The underlying operating philosophy of sinking the shaft at Talang Samin coupled with the ongoing exploration drilling we are undertaking at Talang Santo in a challenging market will ensure Kingsrose continues to move forward and introduce flexibility and optionality into the mine plan.?
Editing by Reiner Simanjuntak