Paramount Mining completes aeromagnetic survey

By Romel S. Gurky

Australia-listed firm Paramount Mining Corporation Ltd announced that it has completed a detailed helicopter-borne survey over its Gunung Rosa gold-silver-base metal project in West Java Province.

It said that the data was collected at 50 meter line spacing on its concession and also over the recognized limits of vein mineralization at 25 metre intervals with the nominal flight height of 50 meters above the ground surface.

Paramount's Chairman Mo Munshi said "Our preliminary review of the helicopter-borne magnetic results combined with our existing field mapping and sampling clearly demonstrate scope for delineation of additional resources of gold, silver and base metal mineralization similar in style to that which we have defined to date,?

?The relationship of veins, structures, breccias and intrusive now recognized at Gunung Rosa also adds the possibility of discovery of significantly larger breccias or porphyry intrusive stock work hosted bodies of mineralization under thick soil cover, the key objective of the survey. We can now move forward into our development phase at Gunung Rosa with increased confidence in the quality of the project.?

The company is currently undertaking detail assessment of the result. Initial review indicates the data contains valuable information on controls and limits of alteration and potentially mineralized structures, largely blanketed by soil cover.

It said that the data also demonstrated a significant intrusive centre is present containing several intrusives cut by faults and intrusive breccia bodies, some of which are hydrothermally altered.

Editing by Adianto P. Simamora