Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Augur Resources intersects more significant gold zones at Jampang

Augur Resources (ASX: AUK) has intersected further gold and copper mineralisation at the Jampang project in south west Java, confirming mineralised zones exist in close proximity to the main Lipi gold‐copper deposit.

Gold mineralisation was found in 21 of 32 near surface reverse circulation drill holes of less than 100 metres depth.

Highlights include:

- 16 metres at 1.96 grams per tonne (g/t) gold and 3.1 g/t silver from 15 metres and a further 2 metres at 1.62 g/t gold and 5.3 g/t silver from 39 metres.
- 1 metre at 1.64 g/t gold, 0.51% copper and 21.3 g/t silver from 86 metres and a further 9 metres at 1.58 g/t gold, 0.22% copper and 6.7 g/t silver from 99 metres.
- 7 metres at 0.91 g/t gold and 1.5 g/t silver from 34 metres, a further 2 metres at 5.14 g/t gold, 0.15% copper and 5.9 g/t silver from 50 metres.

The company would be encouraged by a number of significant gold zones intercepted at drilling targets proximal to the Lipi gold‐copper mineralisation at Jampang.

Drilling in the Puteran Simpang and Pasir Keusik South prospects focused on the main Puteran Simpang mineralised zone and intersected multiple quartz veins with associated gold and silver mineralisation.

Mineralisation at Puteran Simpang occurs along a north‐west trending fault corridor. Drilling also tested an area to the west of Puteran Simpang intersecting some elevated silver, highlighting the potential for additional mineralisation outside the known areas.

Previous drilling results at Jampang include 3.0 metres at 8.26g/t gold, 0.13% copper and 43.8g/t silver from 72 metres.

The reverse circulation drill program has now been completed at Jampang and metallurgical testing continues on diamond core samples to test and define methods for extracting both gold and copper from the Lipi deposit.

The Jampang gold project is located 150 kilometres south of Jakarta and lies within the Sumatra-Java Epithermal Belt. This belt includes the PongkorGold deposit which host +3 million ounces gold (8.6 g/t gold; 110 g/t silver).

Importantly, the region is well supported by sealed roads, power and water. The deposit is 20 kilometres from the coastal town of Pelabuhanratu.

Limited modern exploration has been conducted at the IUPs (Izin Usaha Pertambangans or mining business licences) with the exception of a three year program undertaken between 1996 and 1998 by Canadian mining company Mispec Resources Inc.

Significantly, mineralisation identified by the historical drilling remains open at depth and along strike.

Augur has a two year option to purchase 90% of PT Golden Pricindo Indah, the company holding the licences covering the central Jampang Gold project.