Oxiana Limited reports Indonesian mining activities
Tuesday, October 23 2007 - 01:05 AM WIB
The following is an excerpt taken from Australian firm Oxiana Limited quarterly report released on Tuesday
Martabe Feasibility Study
Resource development drilling continued in Pit 1 of the main deposit at Martabe, the Purnama deposit, in order to increase volumes of material in the ‘measured’ JORC resource category.
Work on the definitive feasibility study was well advanced with technical reviews of the geology, mining, metallurgy, process design and tailings storage facility. Operating and capital cost reviews are underway. The Feasibility Study will be competed by the end of the year.
Long-lead items including the Semi Autogenous Grind (SAG) and the Ball Mill were ordered.
Martabe Exploration
Resource definition drilling at Berani, close to the planned Purnama pit continued and the resource model for this deposit is being progressively updated to reflect a number of new results, including:
Hole From (m) Interval (m) Gold (g/t) Silver (g/t)
APSD466 81.7 14.3 2.8 5.4
APSD471 80.6 9.4 2.2 9.4
APSD473 65.5 17.0 3.9 10.3
APSD480 70 6 2.5 2.83
APSD500 56.5 23.5 2.1 2.77
APSD505 102 19.0 2.6 2.68
A detailed review of the district scale geophysical and geochemical datasets has identified a number of high priority gold and copper-gold targets for immediate follow up.
Kalimantan Gold Agreement (Oxiana earning 66.67%)
Drilling continued at various prospects on the Kalimantan Gold Corp JV in central
At Beruang Kanan prospect, weak quartz-chalcopyrite veining was intersected in two holes completed. No significant results were received from a hole testing a Molybdenum soil anomaly associated with hydrothermal alteration. Recent drilling has targeted an eastern extension to the main mineralised zone, and a strong copper soil geochemical anomaly. Final results are pending.
Drilling continued at Beruang Tengah testing for a high-grade core to the previously identified porphyry copper-molybdenum mineralisation. Well developed porphyry alteration and weak to moderate porphyry-copper style veining was intersected over several hundred metres. Results are being compiled and a geological review is underway.
The first two holes at Mansur prospect, testing a surface geochemical anomaly at the margin of the porphyry intrusion, failed to intersect significant copper mineralisation. Drilling is continuing to test a buried IP anomaly. (end of edited release)