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  • Arc Exploration Identifies Gold-Copper-Molybdenum Anomaly At Trenggalek, East Java 0 comments
    Jan 13, 2014 7:47 PM

    Arc Exploration (ASX: ARX) has identified a 1,000 metre by 500 metre coincident gold-copper-molybdenum anomaly at the Singgahan Prospect of its Trenggalek Project in East Java, Indonesia.

    Soil sampling had highlighted +20 ppb gold, +90 ppm copper and +4 ppm molybdenum contours at the anomaly, one of at least four porphyry prospects it has identified.

    "These results are encouraging and support our belief in the potential for multiple targets within the Trenggalek Project," managing director Dr Jeffrey Malaihollo said.

    "Trenggalek lies on the relatively underexplored western end of the segment of magmatic belt that hosts the Tumpangpitu gold-copper deposit in the Tujuh Bukit district further to the east."

    The soil anomaly, which contains peak results of 0.191 ppm gold, 585 ppm copper and 29 ppm molybdenum, occurs within a prominent northwest trending structural corridor that extends across the IUP and includes several other major gold and copper-gold prospects including Sentul, Buluroto, and Sumber Bening further to the northwest.

    Follow-up work is in progress and will include benching, continuous rock sampling and Terraspec work (identifying alteration minerals) to provide further definition of the geochemical anomalies.

    Recent Work

    The first exploration hole at Trenggalek had last year intersected extensive hydrothermal alteration and pyrite mineralisation at the Jerambah Prospect with data suggesting the Hole TRDD054 is located on the margins of an anticipated copper-gold system.

    Arc noted the large alteration system with traces of base metal mineralisation is contained in a rock package similar to that hosting the Tumpangpitu (Tujuh Bukit) porphyry copper-gold deposit further to the east.

    Soil sampling and spectral analyses are being completed to help plant the forward program.

    Jerambah is located about 2 kilometres southwest of the Buluroto epithermal gold-breccia prospect on the southern side of the Trenggalek tenement.

    Previous drilling at Buluroto returned narrow epithermal gold intercepts that included 2 metres at 8.7 g/t gold in TRDD032.

    Trenggalek Project

    Trenggalek is an Exploration IUP tenement covering about 300 square kilometres in the same arc segment that hosts the giant Tumpangpitu porphyry gold-copper deposit in the Southern Mountains of East Java.

    The project has excellent infrastructure with a network of sealed to graded roads traversing almost all of the tenement area.

    It is the subject of a joint venture with Anglo American (LON:AAL), which had in December 2012 elected to earn a 51% interest in the project by sole funding US$10 million before 1 October 2016.

    After spending US$ 10 million, Anglo American can move from 51% to 75% by sole funding an additional US$ 10 million.

    On reaching 75%, Anglo American will free carry ARX for its remaining 20% through completion of a Pre-Feasibility Study.

    Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.

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