Sumatra reports further results in Tembang
Monday, February 27 2012 - 02:20 AM WIB
Australia-listed firm Sumatra Copper & Gold plc reported further high grade results from geotechnical drilling at its Belinau deposit within its wholly-owned Tembang gold and silver project in Bengkulu, southern parth of Sumatra.
The company said over the weekend that these results were from a series of geotechnical holes drilled during the third quarter of 2011 as part of the recently concluded pre-feasibility study, which indicated that Belinau was a robust and profitable project.
The cores were recently returned after successful completion of the test work and sampled on site. Results are awaited for a further three geotechnical holes (RDD11191, RDD1194 and RDD 11195).
Sumatra Managing Director Julian Ford said the results continue to outline the high-grade nature and exploration potential of the Belinau vein system which is a key component of the Stage 1 development plan.
He said his company would resume extension and infill drilling of the Tembang prospects once the Company was in a position to fund the exploration from cash flow.
"We already have an extensive resource base and will be looking to leverage off this asset in the current attractive gold market. It is encouraging however that geotechnical drill holes are continuing to intersect significant mineralisation,? said Ford. (*)
Editing by Benget Besalicto Tnb.