Augur Resources identifies bulk copper and gold at Wonogiri, Central Java

Augur Resources (ASX: AUK) has intersected broad zones of gold and copper mineralisation at the Wonogiri Project in Central Java.

The latest results from drilling at Wonogiri include bulk gold and copper intercepts from one hole, including:

- 132 metres at 0.75 grams per tonne (g/t) gold and 0.17% copper from 45.5 metres; and
- 52 metres at 0.31g/t gold and 0.11% copper from 221 metres.

This hole was drilled to test for the continuation of mineralisation below a previous intercept of 182 metres at 0.75g/t gold and 0.17% copper.

Results from this hole indicates the presence of a large gold-copper mineralised porphyry.

In addition, another hole from the current drilling program intercepted smaller zones of higher grade gold:

- 4.5 metres at 1.05g/t gold from 43 metres including 0.5 metres at 7.93g/t gold;
- 1 metre at 4.99g/t gold from 62 metres; and
- 1 metre at 4.16g/t gold from 119 metres.

The higher grade mineralisation is related to epithermal veins, and may indicate a buried mineralised system.

Augur believes extensive alteration could be indicative of a deeper mineralised source which has yet to be drill tested.

Four drill rigs are working within the Wonogiri Project, with two defining the extent of mineralisation at the Randu Kuning porphyry and two targeting regional geochemical and geophysical targets.

Further metallurgical testing has commenced on the porphyry mineralisation at Randu Kuning.

The Wonogiri Project is located in the Sunda-Banda arc and covers an area of 3,928 hectares.

There are a number of significant porphyry deposits in the region of Wonogiri, with Newmont Mining Corporation’s (ASX: NMC) operation at Batu Hijau which hosts 914 million tonnes at 0.53% copper and 0.40g/t gold, sitting along the same zone as Augur's project.

Wonogiri acquisition

Earlier this week, Augur reached the milestone of attaining 51% ownership of the Wonogiri project, having met the required US$1.5 million spend on first stage exploration within 12 months of the acquisition agreement.

The company is now able to earn a further 29%, for a total 80% interest in the project, by spending a further US$2 million on exploration before December 9, 2012.

Originally published at: http://www.proactiveinvestors.com.au/companies/news/23542/augur-resources-identifies-bulk-copper-and-gold-at-wonogiri-central-java-23542.html