Wavenet completes 5 diamonds drilling at Selaup
Wednesday, February 6 2013 - 05:01 AM WIB
ASX-listed Wavenet International Limited, which operates in Indonesia through PT Wavenet Westindo, recently stated to have completed five diamond drilling program at its Selaup project.
"A diamond drilling program started during the quarter and continues with two BMP250 diamond drill rigs operating at the Selaup Project. 5 diamond drill holes have been completed to date for a total of 738.22m of NQ core. Initial logging of lithologies confirms extensively altered sediments and andesite sills with suiphide bearing horizons. Sulphides include pyrite, arsenopyrite, chalcopyrite, galena and sphalerite sometimes accompanied by visible gold and silver," the company said in a statement made available at the exchange.
The company said that preliminary assay results are expected in about six weeks.
The Selaup Project, situated approximately 50 km south-west of Putussibau, in the Kapuas Hulu district of northern pail of West Kalimantan Province, has the geological setting comprises of stratigraphic units and structures that have been conducive for the formation of oxide and primary gold mineralization. Current indications are that this mineralization is extensive.
It is therefore expected that the mineralization of the workings could bear copper, lead and zinc as well as gold and silver.
Editing by Er Audy Zandri