PRESS RELEASE - Iriana's results for Irian Jaya drilling
Saturday, November 25 2000 - 02:00 PM WIB
In late August, Iriana Resources Corp., under an option agreement,began a phase one drill program, at a 100 metre grid spacing, on the Mafi prospect, one of five prospects, on Iriana's large Idenburg property (124,361 hectares), in Irian Jaya province, Indonesia, near the international border with Papua New Guinea. To date, results have been received for 16 holes (1,275 metres total drilled) from the Sucofindo lab, in Timika, with checks from Bondar Clegg Intertek in Jakarta.
The best hole to date, hole 14, a verticle hole, returned 12.6 metres (from 6 to 18.6m) of 8.00 grams gold per tonne, 98 grams silver, 1.26- percent lead, 0.83-per-cent zinc (preliminary return). Hole 14 was a fill-in hole between Hole three which returned 15.5 metres (from 0 to 15.5m) of 2.30 grams per tonnes gold, 190 grams per tonne silver, 0.15-per-cent copper, 2.15-per-cent lead and 1.25-per-cent zinc; and Hole 5 which gave 14 metres (from 2 to 16 metres) of 0.95 grams per tonnes gold and 2.7 grams per tonne silver. Hole 15, drilled to the NE from the Hole 14 site, gave eight metres (12-20 metres) of 2.75 grams per tonne Au and 51.6 grams per tonne Ag and Hole 16, drilled SW from the Hole 14 site, returned 19 metres (2-21 metres) of 0.27 grams per tonne Au and 7.7 grams per tonne Ag.
Holes 17, 18 and 19 (results pending) were drilled into this "zone", and holes 20 to 23 will test the "zone" at 100 metre intervals to the SE under about 10 metres of alluvium. This flat-lying, near surface Au-Ag-Pb-Zn-Cu mineralized "zone" is hosted by intensely altered, sulfide-enriched, carbonate-silica rock, in an assemblage of volcanic, ultramafic and clastic rocks, related to the Mafi River thrust structure.
The Nemma creek prospect, 10 kilometres south of Mafi, is being resampled by helicopter as part of the current work. Last sampled in 1997, it returned surface rock chip assays up to 10.2 grams gold per tonne. Extensions of this mineralization have been reported in Bermol creek, 1 kilometer north of Nemma. (*)