Wavenet updates Indonesia gold projects
Monday, April 29 2013 - 05:45 AM WIB
SELAUP PROJECT
The Selaup Project is situated approximately 50 km south-west of Putussibau, in the Kapuas Hub district of northern part of West Kalimantan Province. The geological setting of the area comprises 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. There are several shafts and adits into the hillsides and several sub-horizontal veins are being mined. The waste dumps around the workings contain galena, arsenopyrite, pyrite and minor chalcopyrite. It is therefore expected that the mineralization of the workings could bear copper, lead and zinc as well as gold and silver.
A Clean and Clear Certificate (CNC) for the Selaup concession has been issued by the Director General of Minerals and Coal in Jakarta.
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.
A diamond drilling program continues with two BMP25O diamond drill rigs operating at the Selaup Project. To date 8 diamond drill holes have been completed for a total of 1061.09m of NQ core. The drill program is ongoing. Initial logging of lithologies confirms extensively altered sediments and andesite sills with sulphide bearing horizons. Sulphides include pyrite, arsenopyrite, chalcopyrite, galena and sphalerite.
Horizons in the sediments and andesites of 1% to 5% sulphide are common, and occasionally to 20% sulphide is found in the core. At the Pontianak office core is in the process of being cut for sampling and assay. Preliminary assay results indicate that although the andesites contain a large volume of disseminated sulphide, most of this does not carry significant gold and base metals. Drilling to date has proven that the geology is more complex than initially understood and that several faults oriented approximately North-South displace the andesite and sediment units up to 200m in the vertical plane. The presence of ?horst and graben? structures (fault-bounded uplifted and downthrown blocks) suggests that there is a strong structural control on the location of mineralization. Figure 3 illustrates the interpreted structures from logging diamond drill holes 12SD1, 12SD3, 12SD4, 12SD7, 12SD13 and 12SD15.
When the lithology logs are plotted for the holes completed to date, it is interpreted that there are faults that show an apparent vertical normal throw of about 200m between 12SD07 and 12SDO1, 105m between 12SD13 and 12SD04 and of approximately 85m between 12SD04 and 12SD15. There are three andesite sills in the sequence and the lowest sill appears to have a thickness exceeding 145m. Sulphides are generally well distributed through the andesites but tend to become more concentrated at the upper parts of the sills and on contacts and in the overlying sediments.
SINTANG PROJECT
The Sintang Project is situated approximately 250km east of Pontianak, in the Sintang Regency of the central part of West Kalimantan Province. The geological setting of the area comprises stratigraphic units and structures that have been conducive for the formation of oxide and primary gold and silver mineralization. Current indications are that this mineralization is extensive and high grade The Sintang Project also has excellent indications of polymetallic mineralization from the exploration work so far completed the reconnaissance work confirmed that gold-bearing ores were present within an epithermal mineralizing environment throughout the area of workings.
Current Exploration at Sintang
A preliminary geochemical survey using a 400m grid has been conducted over the entire concession. Geochemical plots for gold, silver, copper, lead, zinc, arsenic and barium were completed. This defined several zones of coincident metallic anomalies.
Target areas have been identified for detailed mapping of the quartz veins and artisanal diggings. The first mapping area is 6.5 by 4.25 kilometres (over 27 square kilometres) in area. Mapping and sampling work is currently ongoing and is being completed by one expatriate and two local geologists. (end of excerpt)