Significant assay results have been returned from two holes on Bre-X Minerals’ (ASE) Busang gold prospect in East Kalimantan, an Indonesian province on the island of Borneo.
During the recent program, three holes were completed and a fourth was terminated at 22.8 metres, the drill equipment being incapable of drilling PQ-sized core (8.5 cm in diameter) beyond this depth.
Holes BRH #1 and #2 intercepted low gold values over lengths of 84 and 140 metres respectively.
Hole BRH #3, drilled to a depth of 133.7 metres, encountered favorable gold mineralization between 3 and 83.6 metres, with values in this interval up to 6.58 grams gold per ton over 4 metres. Hole BRH #4 intersected 6 metres grading 10.43 grams before being terminated.
Channel sampling confirmed the extension of mineralization 500 metres southeast of the drill site. Values from the surface sampling included 3.68 grams gold and 4.83 grams silver over 6 metres, and 5.25 grams gold and 92.25 grams silver over 4 metres.
Drilling is expected to resume in February.
At the company’s Sable prospect in central Sumatra, limited sampling returned values up to 9.58 grams gold. A more detailed program of sampling and geological mapping is planned for February. It is intended to delineate specific drill targets within a 200-metre-wide-by-2-km-long
argillic-siliceous alteration zone.
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