MALAYSIA - New gold intercepts at Bau

Olympus Pacific Minerals has received further encouraging drill results from the Jugan Sector of its Bau Central gold property in East Malaysia. Highlights include 61.1 metres @ 2.4 grams/tonne gold, 34 metres @ 2.47 grams/tonne gold and 32.4 metres @ 1.92 grams/tonne gold. 

The company’s chief executive officer John Seton says ongoing drilling at the property near Sarawak continues to return highly encouraging results. “Drilling has now shown that the Jugan Hill deposit remains open, both at depth and along strike and that the deposit strikes parallel to the regional northeast-southwest trend of Bau Central gold mineralization. This substantially enhances the scope for step-out drilling to expand resources and increases confidence in the large-scale potential of the Jugan deposit.”

Jugan Hill is a near-surface gold deposit at the northern end of the Bau Central gold trend. The presence of a deep northeast-southwest trending mineralized (feeder) zone, parallel to the Bau gold trend, has now been confirmed on multiple drill section lines. This zone dips steeply northwest and remains open along strike in both directions and beyond 200 metres vertical depth.

The drill program will continue to probe strike and dip projections of this zone and a detailed, high-resolution geochemical survey, along with alteration studies and an IP geophysical survey are expected to yield further insights into the lateral and depth projections of mineralization within Jugan sector.

The current phase of infill and step-out drilling at the Jugan Hill deposit continues to upgrade and expand the prospective open pit resource. Olympus says these latest results have confirmed continuity of ore grade mineralization beyond the limits of the previous JORC-compliant resource model of a measured 158,500 ounces of gold and an indicated 500,600 ounces of gold.

Olympus has been actively exploring the 17km-long Bau Central mineralization trend and its 34 known gold prospects since first acquiring the property in 2009.

The Bau goldfield has been intermittently mined since the mid-1800s with historic production estimated at more than 3 million ounces of gold. Its geology and mineralization have been compared with that of the 60 million ounce Carlin District of Nevada, USA.

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