Reliance completes 2012 drilling program
Saturday, January 19 2013 - 01:25 AM WIB
TSX-listed Reliance Resources Ltd recently stated it has completed 2012 drilling program at Tanoyan.
"Three drill holes all intersect significant widths and grades of gold mineralisation, namely TND 107: 28.90 metres at 1.3 g/t Au from 89 metres, TND 108: 23.20 metres at 0.6 g/t Au from 139.1 metres and TND 109: 23.45 metres at 1.8 g/t Au from 56.05 metres. This confirms consistency of mineralisation and the continuity of wide intervals of gold mineralisation in the Sondana North Vein; Tanoyan Gold Project," the company said.
Reliance completes 22 holes and 3,316 metres for high-quality diamond drilling in total.
A review of the Sondana North drilling suggests mineralisation is still open further to the north and this high-priority target will be tested during a continuation of the Phase 2 drilling program in 2013, which is slated to extend to 10,000 metres, entered a hiatus during the Christmas - New Year period for essential equipment maintenance and is planned to recommence in early 2013.
"Reliance is currently undertaking studies which will transition the Tanoyan property from the current exploration phase to exploitation phase. Consultants have been engaged and environmental baseline and impact studies have commenced on site," it said.
The Tanoyan Gold Project consists of an extensive system of auriferous quartz veins, comprising four principal vein systems, Sondana, Ramai, Modupola/Talong and Lingkobungon. These veins are predominantly orientated northeast and dip steeply or moderately to the northwest or southeast. The veins are hosted by andesitic volcanic rocks and have been mapped over a combined strike length of approximately 6 kilometres.
Editing by Er Audy Zandri