INDONESIA - Hillgrove intersects significant gold at Karipi

Results from ongoing drilling at Hillgrove Resources’ Karipi and Bird’s Head prospects have confirmed significant gold values. Thirty four holes were completed at the Karipi prospect on Sumba Island, with significant gold values confirming its potential as an epithermal gold prospect. 

Best results include 2.85 metres @ 22.37 grams/tonne gold and 3.75 metres @ 4.29 grams/tonne gold. Hillgrove says numerous additional targets at the site remain untested, while testing of the IP geophysical targets has revealed blind gold mineralization. Sampling of outcropping epithermal quartz veins, breccias and associated strong hydrothermal clay alteration returned gold values of up to 61 grams/tonne gold in soils and 1250 grams/tonne gold in rock chips.

Four holes were drilled at the Bird’s Head prospect in West Papua. Assay results from the first hole confirm field observations of disseminated copper sulphides and associated intense potassic alteration. The best intersections so far include 11 metres @ 23% copper and 444ppm molybdenum and 5 metres @ 0.38% copper and 213ppm molybdenum. The presence of strongly elevated molybdenum values within the structural zone targeted is considered consistent with the modelled presence of a buried porphyry system.

Hillgrove’s managing director Drew Simonsen says, “We are very pleased with the results we have achieved to date in the current drilling campaign at both Sumba and Bird’s Head. At Sumba we continue to encounter significant gold mineralization which is supporting our confidence in the potential of the prospect. Continued success could enable us to target the definition of an initial resource during the first half of 2013.”

Drew Simonsen says the Bird’s Head results are also encouraging, with the core indicating the company is in a near-porphyry environment. “These results indicate the significant potential of our Indonesian exploration portfolio. When combined with our producing Kanmantoo copper gold mine in South Australia, we have operating cash flow with exceptional upside potential through our successful exploration efforts,” he said.

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