Southern Arc updates Nusa Tenggara projects
Thursday, April 5 2012 - 03:03 AM WIB
Southern Arc Minerals said that its West Lombok exploration program was currently focused on epithermal gold mineralization in the Pelangan prospect, and porphyry copper-gold mineralization around the Selodong prospect.
Pelanggan prospect is on the northwest of the property, while Selodong prospect is on the southeast of the property.
The company said in a press statement on Thursday that Drill hole SLD031 was the first to test new porphyry targets generated by an aeromagnetic survey and porphyry prospectivity study of the property. This drill hole tested the North Belikat target and returned:
SLD031 83.0 m @ 0.33 g/t gold and 0.08% copper from 285.0 m
incl. 43.5 m @ 0.41 g/t gold and 0.08% copper from 306.0 m
incl. 14.0 m @ 0.60 g/t gold and 0.12% copper
It stated that the mineralization intersected in the hole was very encouraging since the North Belikat target was not exposed at surface, and these results confirmed the methodology behind the prospectivity study for targeting shallow or blind porphyry mineralization throughout the property.
A second hole, SLD032, has also been completed on another target with final assay results pending.
Since early January the Company has completed ten shallow drill holes along a 900-meter-long strike length of the Tanjung-Jati target, in the Pelangan prospect.
Results are shown with highlight intersections of:
PLD 043 1.4 m @ 9.30 g/t gold from 50.5 m
PLD 040 2.0 m @ 5.84 g/t gold and 2.2 g/t silver from 11.7 m
Southern Arc is currently testing the Kayu Putih target at Pelangan immediately to the north of Jati. Upon completion of that program, Southern Arc will review the results of geochemical mapping and sampling on the property and redeploy the drill rigs as appropriate.
Sabalong Project, Sumbawa Island
Phase 1 drilling continues on the Sabalong property, which is operated under a joint venture with Vale S.A. whereby Vale has the option to earn a 75% interest in the project by funding all expenditures through to completion of a bankable feasibility study. Southern Arc is the operator of the property.
Editing by Benget Besalicto Tnb.