Augur Resources' gold mineralised corridor at Randu Kuning extended to over 1300m

Central Java focussed Augur Resources (ASX: AUK) has four drill rigs turning at the Wonogiri project.
Two of the drill rigs are defining the extent of mineralisation at Randu Kuning, while two rigs are targeting regional geochemical and geophysical targets.

Augur has earned a 51% interest in the project and can earn an 80% interest in the project with the expenditure of a further US$2.0 million by 9 December 2012.

The Wonogiri project is located approximately 30 kilometres to the south of the provincial city of Solo in central Java.
Drill results

Today's drill results from three diamond drill holes from the Wonogiri project include the following:

Hole WDD024 was drilled to test down dip extension of mineralisation below WDD017 (55.0 metres at 0.41 g/t gold and 0.16% copper). Holes

WDD024 and WDD017 are located in the north of the Randu Kuning prospect.

Hole WDD024 intersected wide zones of mineralisation including 94.0 metres at 0.37 g/t gold and 0.21% copper from 95.0 metres and a further 18.0 metres at 0.21 g/t gold and 0.17% copper from 194.0 metres.

The results from hole WDD024 are considerable as they show the continuation of mineralisation to the north and the continued potential for mineralisation at depth.

Anomalous molybdenum

Interestingly, hole WDD024 intersected zones of anomalous molybdenum and copper bearing bornite sulphides. This is the first hole where bornite has been identified in this drill program.

The occurrence of bornite and molybdenum support the geological model that Randu Kuning is a multiphase porphyry intrusive system with potential at depth. The widening of the mineralised zone appears to be consistent with the pattern of mineralisation identified in the central Randu Kuning zone.

Hole WDD025

This was drilled over 175 metres south of the southern most holes at Randu Kuning. The hole was targeted on a magnetic high within an interpreted northwest trending mineralised corridor which contains the Randu Kuning porphyry. This corridor has a strike of over 1,300 metres.

Hole WDD025 intersected wide zones of gold mineralisation which include 35.7 metres at 0.34 g/t gold from 145.8 metres and 9.1 metres at 0.53 g/t gold from 185.9 metres.

This hole is significant as it shows that the southern extent of the Randu Kuning mineralisation may not be closed off by the earlier drilling and the potential for significant mineralisation beyond that already identified is high.

Further drilling will be undertaken to identify the extent of the mineralisation in the zone between the Randu Kuning mineralisation and hole WDD025.

Hole WDD026

Drilled to test the continuation of mineralisation down dip of hole WDD015 and WDD021. The most significant interval of mineralisation in the hole was 101.8 metres at 0.43 g/t gold and 0.15% copper from 143.0 metres.

Current program

A drill rig capable of testing to depths of greater than 1,200 metres is targeting mineralisation at depth below Randu Kuning. The first hole drilled by this rig is currently at approximately 600 metres depth.

Further metallurgical testing is continuing on the porphyry mineralisation at Randu Kuning.

Wonogiri Project

The Wonogiri project is located approximately 30 kilometres to the south of the provincial city of Solo in central Java and is accessible by daily flights from the capital Jakarta and a short one hour drive by car on a sealed road.

The project lies within the Sunda‐Banda arc and covers and area of 3,928 hectares. The area is considered prospective for epithermal gold and porphyry copper‐gold mineralisation.

Previous exploration completed by PT Oxindo from 2009 to 2010 targeted copper porphyry mineralisation within the northern portion of the licence.

A number of significant porphyry deposits (+/‐ associated epithermal mineralisation) sit along this zone including Newmont Mining Corporation’s operation at Batu Hijau (914Mt at 0.53% Cu and 0.40 g/t gold), Newmont’s Elang deposit on the island of Sumbawa and Intrepid Mines Tujuh Bukit (1,700Mt at 0.41% copper and 0.46 g/t gold) in eastern Java.

Analysis

The Wonogiri project has become the flagship project of the company as drilling continues to indicate a significant area of mineralisation associated with the Randu Kuning porphyry system.

Significantly, mineralisation at Randu Kuning has been identified from surface and remains open at depth.

In addition, the porphyry mineralisation remains open to the north and to the west.

Drilling during 2012 will be aimed at defining the edges of the system.

Given the drill results to date and the structural zone similarities to significant porphry deposits, clearly Wonogiri is shaping up as a significant project with large scale potential which should become more defined in 2012.

Originally published at: http://www.proactiveinvestors.com.au/companies/news/24110/augur-resources-gold-mineralised-corridor-at-randu-kuning-extended-to-over-1300m--24110.html