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Monday, 25 March 2013
Southern Arc Minerals sees more “encouraging” results from West Lombok, further drilling planned
Southern Arc Minerals (CVE:SA) (OTCQX:SOACF) released Monday what it said were encouraging drilling results from its Tibu Serai target at the Mencanggah prospect on its West Lombok property, and announced the start-up of a further phase of drill holes to test both epithermal gold and porphyry copper-gold targets.
The Indonesia-focused explorer said that seven shallow drill holes, or 1,124.2 metres, have been completed at Tibu Serai, and have confirmed the down dip continuity of mineralization below surface.
The drill holes have tested only a fraction of the strike of the mineralized breccias, it added, with many zones of surface sampling yet to be tested.
Of particular note was drill hole MCG055, which intercepted 24.8 metres at 4.27 grams per tonne (g/t) gold and 0.6 g/t silver from 48.6 metres, including 0.5 metres at 71.0 g/t gold and 1.9 g/t silver from 49.4 metres; and 5.4 metres at 9.44 g/t gold and 1.3 g/t silver from 67.2 metres, including 0.55 metres at 71.0 g/t gold and 6.8 g/t silver from 71.75 metres.
“Drillhole MCG055 is particularly encouraging as this mineralization lies adjacent to an inferred major cross-cutting structural break evidenced from the magnetic survey data and mapped outcrop patterns,” the company said in a release Monday.
Southern Arc said its exploration team believes this structural break may be influencing higher gold grades nearby and that several other targets in the area represent “encouraging targets” for future exploration.
The company noted that a further three drill holes are planned at Tibu Serai to test extensions of the high-grade intercept found in hole MCG055. Two holes will step out 40 metres on either side of the hole to test mineralization along strike, and one hole will drill below to test whether mineralization continues at depth.
Tibu Serai is a two-square-kilometre area located at the northern end of the Mencanggah prospect, which hosts “numerous” northwest and north-northwest trending linear gold mineralized structures, the majority of which have been channel sampled and returned “highly gold-anomalous intervals”, the company said.
Channel samples of note include 7.1 metres at 53.53 g/t gold, 2.25 metres at 12.13 g/t gold, 0.6 metres at 69.0 g/t gold and 2.0 metres at 9.8 g/t gold.
At its Bising target at West Lombok, three additional drill holes are in progress to infill between holes MCG031 and MCG032, which last month Southern Arc also said showed “encouraging results”.
Late last year, the explorer announced plans to restart drilling at West Lombok, and mobilized three drill rigs to its Bising target for a phase 2 drill program.
As at the end of February, Southern Arc said it had completed 11 holes of the phase 2 program, with results to be included in an NI 43-101 resource estimate for the property - targeted for the middle of this year.
Once all the results are received, its exploration team and board will review to determine the next steps to advancing the West Lombok project.
The project covers a 13-kilometre-long by seven-kilometre-wide structural corridor of mineralization, hosting porphyry copper-gold and epithermal gold deposits.
The two main epithermal prospects on the property - Pelangan and Mencanggah - cover broad areas of four kilometres by five kilometres, and 6.5 kilometres by 4.5 kilometres, respectively.