Reliance announces high-grade copper, silver rock at Akelamo Prospect

By Ruli Setiawan

ASX-listed Reliance Resources Limited announced that assays from samples confirmed strong silver at its Akelamo Gold/Silver Prospect, located on the Kapa Kapa property on Halmahera Island.

Reliance which has more than 44,000 acres of exploration ground on Halmahera said that exploration in the southern extension of the Akelamo Zone has encountered rock float of silicified and brecciated volcanics with tarnished sulphides.

It said that a grab sample of this has assayed high in copper and silver- 5.2% Cu and 83 g/t Ag. This sample continues a pattern observed at Akelamo of high? grade copper values adjacent to the main Akelamo Zone.

In another area, three grab samples were collected from mineralised outcrops in the headwaters of Sanggut and Sobit creeks. Assays from these samples confirm strong silver- 729 g/t Ag, 288 g/t Ag and 75 g/t Ag. They represent the northernmost outcrop samples at Akelamo and show the zone is still open to the north.

Reliance Resources CEO Gary Lewis said: "The discovery of high grade copper at Akelamo is a further indication of the high prospectivity of the Reliance exploration concessions in Halmahera. Field exploration continues to increase the extent of the mineralization at Akelamo and it is now evident that the mineralizing system is of a large scale. Akelamo is only one of 5 known prospect areas within the Kapa Kapa property. The soil geochemical sample grid at Akelamo should provide further important target definition of the mineralization prior to drilling. Regional and prospect scale exploration will continue."

Editing by Adianto P. Simamora