Augur reports further results from Wonogiri Project
Tuesday, February 28 2012 - 03:23 AM WIB
Augur Resources reported that its further 9 drill results from the Wonogiri gold and copper project in Central Java had continued to highlight the significant presence of gold and copper mineralization.
The company said in a press statement on Monday that the drilling results included the first of a series of diamond holes testing for deep gold and copper mineralization at the Randu Kuning porphyry prospect.
The focus of current known mineralization is within a 1,300 meter corridor of magnetic anomalies and coincident gold + copper + silver rock, soil and trench anomalies, Indonesia .
At Randu Kuning, the drilling is indicating a significant gold and copper porphyry system with potential additional mineralization at depth and to both the north and south of the current drilling.
A second deep drill hole, WDD045, is currently underway approximately 100 metres to the south of WDD030.
The company stated that the gold equivalent results were calculated using a gold price of US$1,198/oz and a copper price of US$6,945/t.
Silver is excluded from the gold equivalent calculation as no metallurgical testing of the recovery properties of silver from this project has occurred. In calculating Gold Equivalents for the drilling results in the table above, gold and copper recoveries are assumed to be 100%.
Editing by Benget Besalicto Tnb.