Wavenet reports results of diamond drilling at Selaup project
Friday, June 14 2013 - 01:12 PM WIB
ASX-listed Wavenet International Limited reported on Friday that 11 diamond drill holes at Selaup project have been completed for a total of 1169.38 meters.
Selaup Project is situated approximately 50 km south-west of Putussibau, in the Kapuas Hulu district of northern part of West Kalimantan Province.
It said that logging of lithologies confirmed extensively altered sediments and andesite sills, both with sulphide-bearing horizons
"Drilling has confirmed that mineralisation appears to be confined to the sandstones where fractures and faults contain elevated levels of gold, silver, copper, lead and zinc," the company said in the statement.
The assay indicated sandstones contain 0.1 to 11.0 glt Au, and andesites contain only trace amounts of gold, silver and lead within abundant disseminated sulphide.
It said that 150 samples have been collected from the alluvial deposits in the drainage system and approximately 67 showed visible gold during panning (44.6%). "These will be dispatched for assay during the next few days."
The company has secured a Clean and Clear Certificate (CNC) for Selaup concession. "This signifies and validates that PT Wavenet Westindo has passed all the administrative, cultural and environmental requirements for operating as a mining company in the Kapuas Hulu district," it said.
Editing by Adianto P. Simamora