Tuesday, 26 July 2011

Augur Resources broad hits continue with 113m at 1.52g/t gold at Wonogiri in central Java

Augur Resources (ASX: AUK) for the second time in a week has announced a very wide gold intersection at the Wonogiri project in central Java, which continues to support a bulk tonnage scenario.

The latest highlight from the Randu Kuning prospect diamond hole was; 113.0 metres at 1.52 grams per tonne (g/t) gold from 50 metres, and a further 27.0 metres at 1.68g/t gold from 212 metres in the same hole, which was drilled in total to 322.5 metres, and remains open at depth.

The zone is associated within extensive stock working and sheeted veins hosted within a micro‐diorite.

Adding some extra interest to the project is copper results covering the entire mineralised intervals and the remaining gold results are expected over the coming weeks.

Augur said that data from local geology and recent drilling indicates that the mineralisation at Randu Kuning is related to a near vertical gold-copper porphyry within a large eroded volcanic centre, possibly related to a northward migrating Oligocene to Miocene volcanic Arc.

A number of significant porphyry deposits (+/‐ associated epithermal mineralisation) sit along this zone.

These include Newmont Mining Corporation’s (NYSE: NEM) operation at Batu Hijau (914Mt at 0.53% copper and 0.40g/t gold), Newmont’s Elang deposit on the island of Sumbawa and Intrepid Mines (ASX: IAU) Tujuh Bukit (990Mt at 0.40% copper and 0.45g/t gold) in eastern Java.

This latest very wide intersection at Wonogiri comes hot on the heels from the 222.1 metre at 0.57 g/t gold and 0.15% copper from 84 metres announced earlier in the week.

Within the very broad intersection were two higher grade zones which included;  86.0 metres at 0.85g/t gold and 0.20% copper from 110.5 metres, and 46.1 metres at 0.78g/t gold and 0.17% copper from 259.5 metres.

Importantly for additional discoveries, mineralisation remains open to the north, south, west and at depth - with drilling already underway along strike.

The project lies within the Sunda-Banda arc, which is considered prospective for epithermal gold and porphyry copper-gold mineralisation.

Originally published at: http://www.proactiveinvestors.com.au/companies/news/18152/augur-resources-broad-hits-continue-with-113m-at-152gt-gold-at-wonogiri-in-central-java-18152.html

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