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  • Arc Exploration, Anglo American JV Reveal Results From Singgahan Prospect 0 comments
    Jul 21, 2014 2:32 AM

    Arc Exploration (ASX:ARX) and joint venture partner Anglo American (LON:AAL) have intersected porphyry-style mineralisation at the Singgahan Prospect in Indonesia, which is part of the Trenggalek project area.

    Exploration activities at Trenggalek are currently managed by Arc but fully funded by Anglo American.

    First phase scout drilling has been completed, with assays from the final two holes received.

    - Hole TRDD058: 70 metres at 0.037% copper, 0.05g/t gold & 4 ppm molybdenum.

    - Hole TRDD057: 12 metres at 0.067% copper & 0.10 g/t gold.

    The results outline the potential of the under-explored prospect, with a petrological investigation completed on selected core samples confirming the occurrence of porphyry-style veining and alteration, with copper and molybdenum minerals.

    This supports the prospectivity of the project.

    Dr Jeffrey Malaihollo, managing director for Arc Exploration, commented:

    "The results from this first phase of drilling with our joint venture partner, Anglo American, have confirmed the presence of a porphyry system at Singgahan, albeit so far at low-grade. These porphyry-type systems normally have multiple intrusions and there are indications that stronger mineralisation may be present in Singgahan area.

    Singgahan is only one of several targets identified under the joint venture.

    There are large parts of the project area which contain other prospects and are underexplored for porphyry deposits.

    Malaihollo added, "These results highlight the porphyry potential of the Trenggalek project area, which lies in the same segment of volcanic arc that hosts the Tumpangpitu porphyry copper-gold deposit further to the east."

    The Trenggalek Project is an Exploration IUP tenement covering about 300 square kilometres located in the same magmatic arc that hosts the Tumpangpitu porphyry copper-gold deposit in the Southern Mountains of East Java, and the Batu Hijau-Elang porphyry copper-gold deposits located on Sumbawa.

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

    Analysis

    Petrological evidence indicates that the JV is in the right environment. So there could be stronger mineralisation present in Singgahan area which is just one of several targets identified under the JV.

    Large parts of the project area are underexplored for porphyry deposits. So while these results are lower on the grade side, it is first phase and they do highlight the porphyry potential of the Trenggalek project area.

    Next step, is a detailed review of the results and undertake more surface work before further drilling.

    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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