Further diamond drill results from Augur Resources’ Wonogiri gold-copper project have confirmed the continuation of the high grade zone. The drilling has indicated a significant gold and copper porphyry system with potential additional mineralization at depth and to both the north and south of the current drilling.
One hole intersected a 104.1 metre interval of 1.08 grams/tonne gold and 0.25% copper from 106 metres at the Randu Kuning porphyry prospect. This interval included 32 metres @ 1.66 grams/tonne gold, 0.33% copper and 1.7 grams/tonne silver from 164 metres. Augur says the hole ended in mineralization with the final 2.1 metre sample returning 0.91 grams/tonne gold and 0.17% copper, and appears to be part of a central higher grade gold zone.
The other hole drilled to locate the western edge of the mineralization suggests further widening of the system at depth. The hole finished in mineralization with the last 2 metres returning 1.17 grams/tonne gold and 0.44% copper.
Augur says the holes have successfully defined the significant mineralization at Randu Kuning and the information will be used in the JORC-compliant resource estimation, which is expected to be completed by June.
The 3928 hectare Wonogiri project is about 30km south of the provincial city Solo in central Java which is easily accessible by daily flights or on sealed roads. It lies within the Sunda Banda arc considered prospective for epithermal gold and porphyry copper-gold mineralization.
The project area has been previously explored by PT Oxindo in 2009-2010, with detailed mapping, soil sampling and geophysical work culminating in a five drill hole program to test several modeled magnetic high bodies. Surface rock chip sampling and geological mapping highlighted the potential for epithermal gold mineralization near the Randu Kuning prospect. The known mineralization and the surrounding epithermal targets are free of any forest access restrictions.
There are a number of significant porphyry deposits along this zone including Newmont Mining’s 914 million tonne operation at Batu Hijau, Newmont’s Elang deposit on the island of Sumbawa and Intrepid Mines’ 1700 million tonne Tujuh Bukit in eastern Java.
Augur can earn an 80% interest in the project with the expenditure of a further US$2 million by December 2012.