Release: Austindo reports Q4 mining activities in Java, Papua
Thursday, February 1 2007 - 03:20 AM WIB
Total expenditure for exploration completed on the Trenggalek and Pekalongan projects totaled A$142,000 during the quarter.
Trenggalek Project, East Java (ARX - 95%)
The Trenggalek KP exploration area in East Java covers 17,586 ha.
Surface work continued at several prospects on the Trenggalek Project during the quarter. Geological mapping and prospecting have helped identify further mineralised float on the Paces prospect, including three grab samples of vein float assaying 3.8, 5.9 and 57 ppm Au respectively. These samples were found on a ridge located, on the western side of the prospect. As reported previously, the area containing the moderate to high grade vein float is about one kilometre-square and the float is believed to be sourced from thick soil-covered ridges. Soil sampling has so far failed to clearly define the potential bedrock sources. Trenching is planned to evaluate the ridges in the next quarter.
Further mapping undertaken at Dalangturu and the Jati prospect, located east of Paces, has extended the previously known distribution of hot spring-related epithermal features such as silicified eruption breccia, mineralised vein-stockwork and silica sinter. This is further confirmation that these prospects, in particular, have potential for high-level preservation of high-grade lode systems at depth and perhaps stockwork and hydrothermal breccia targets nearer to surface.
All three of these prospects, including the mineralised vein system reported at the Sentul Prospect in the previous quarter, lay within forestry production areas. A permit is awaited from the Department of Forestry, which will allow access in these areas to do trenching and scout diamond drilling in the first or second quarter of 2.007.
Pekalongan Project, Central Java (ARX - 95%)
The Pekalongan KP exploration area in Central Java covers 5,618 ha.
Fieldwork continued at a significantly reduced level during the quarter due to the shift of work priorities to the other projects.
A ground magnetics and soil geochemical survey is planned for the next quarter to investigate prospective structures extending for 3 to 4 km between the Kuning and Mudal prospects. As previously reported, the Kuning Prospect contains widespread gold anomalies associated with silicified fracture zones, whilst the Mudal Prospect is highlighted by mercury anomalies associated with silicified eruption breccias and possible silica sinters located at about 200-300 m higher elevation than Kuning.
The main prospects lay within forestry production areas. A permit is also awaited from the Department of Forestry, which will allow access in these areas to do more extensive trenching and plan a scout diamond drilling program if results justify.
Papua, Aisasjur Project - Anglo Strategic Alliance (ARX - 20%)
The Company has a strategic alliance with the Anglo American Group to explore for large copper/gold porphyry deposits in Papua. The Company has a 20% joint venture interest in the Aisasjur Project while the Anglo American Group has the obligation to fund all exploration activities pursuant to the terms of the strategic alliance.
The Aisasjur Project covers an area of 9,486 hectares in the Kepala Burung area of Papua. Geologically, the project area lies within one of Indonesia?s young Tertiary volcano- plutonic arcs and is prospective for both porphyry copper-gold and epithermal gold mineralisation styles.
Last quarter it was announced that a 4000 m drilling program had commenced testing of porphyry targets on the Aisasjur Project. This drilling program is nearing completion. Results will be reported once all assays are received and fully evaluated by Anglo America Group, the operator of the project. (end of release)