Iriana explores near Jakarta

An Indonesian tin company has launched an exploration program to test two properties held by Iriana Resources (IR-T) on Flores Island, east of Jakarta.

The Wae Dara and Nggorang properties, about 15 kms apart, are said to be prospective for Kuroko-type volcanogenic base metal mineralization. Koba Tin can earn a 92.5% interest in both properties by spending US$700,000 on option and cash payments over three years.

Earlier this fall, Iriana began a exploration program at the Mafi prospect in Irian Jaya. Recent channel sampling returned values as high as 26.7 grams gold and 445 grams silver per tonne, plus 10.4% lead. Chip sampling of gossans returned up to 737 grams gold, 1,760 grams silver, 23.3% lead, 13.4% zinc and 1.3% antimony. The land package is near the border with Papua New Guinea, about 150 km from the Ok Tedi and Frieda River copper deposits.