Western Mining identifies anomalies in Persada tenement
Wednesday, April 16 2014 - 12:20 PM WIB
ASX-listed Western Mining Network Limited (WMN) announced on Wednesday that the geochemical and geophysical programs carried out in Block A at the Persada tenement in Palu, Central Sulawesi have identified coincident geochemical and geophysical anomalies in one area.
Overall, the work outlined a geochemical gold anomaly with a related geophysical chargeability/conductivity anomaly, both associated with a zone where diorite intrudes metamorphosed sediments.
WMN continues infill geochemistry for better anomaly definition with the ultimate objective to later conduct a limited core drilling program to test for mineralization.
The Persada tenement is located northeast of Palu in Central Sulawesi, between Toli-Toli and Buol. The Tenement is approximately 50 km east of Toli-Toli and covers 5,000 hectares.
Meanwhile, WMN approached the only two manganese smelters in Java with a view to sell manganese from the Genesis tenement. During the second quarter of 2014 WMN will evaluate potential direct cooperation with state owned steel producer PT Krakatau Steel.
PT Genesis Berkat Utama (Genesis), is a manganese concession with IUP Production license in Toli Toli, Central Sulawesi containing rock chip results of between 41.4 and 55.3% Mn.
Editing by Johannes Simbolon