Southern Arc granted two additional exploration licenses on Flores Island
Thursday, October 13 2005 - 02:41 PM WIB
Province.
The company said licence areas Longgo (1,207 ha) and Bolol (550.4 ha) were previously explored by CSR-Billiton (1986-1993) and Aberfoyle Resources (1997-2001) under
fourth and seventh generation Contracts of Work.
The licenses, issued by the Manggarai and Ngada regencies, are valid for twelve months and can be extended for a further 12 months as part of the General Survey conditions of the licenses.
Accirding to the company previous exploration at Longgo reported anomalous Cu-Zn-(+/-)Pb soil geochemistry over an area of 2,500 m by 500 m, coincident with the trace of a
prominent NW trending aerial photo lineament.
Initial interpretation suggests that base metal anomalism is related to structurally and stratigraphically-controlled epithermal mineralization, said the company.
Previous exploration at Bolol reported extensive Au-Ag anomalous soil geochemistry over an area of 1,500 m by 200 m, coincident with outcropping high-level epithermal quartz veining and stockwork.
"Both licences are very accessible and the company anticipates that it will take only 3 to 4 months of field exploration to define initial drill targets," said the company.
These are the third and fourth Flores Island licenses to be issued to the Company.
"Assessment of the entire western part of Flores Island is on-going and it is anticipated that the company will acquire further KP areas in the near future," said the company.
"Southern Arc continues to expand its portfolio of exploration properties across Lombok Island, Sumbawa Island and Flores Island. These recent acquisitions form part of the Company strategy, which is to be an active
junior mineral exploration company throughout the entire Sunda Banda magmatic arc of south-central Indonesia." (alex)