Bre-X forges ahead at Indonesian play

Results from recent drilling have prompted Bre-X Minerals (ASE) to persevere at its Busang gold project in East Kalimantan. A third phase of drilling, already under way, is aimed at delineating 5 million oz. of reserves by the end of 1995.

Bre-X, a company 26%-owned by Bresea Resources (ME), released results from two previous phases of work.

The Central zone was drill-tested with 76 holes at 50-metre intervals, both horizontally and vertically. The programs intersected gold mineralization over a strike length of 900 metres.

Thirty-four holes intersected mineralization to a depth of 150 metres, while three deeper holes did so to a vertical depth of 250 metres along a strike length of 700 metres.

All gold grades are deemed recoverable by open-pit methods because assays were completed using a 36-hour cyanide leach method.

Selected assay results from the drilling at Busang are as follows: Hole Interval Gold

metres (g/tonne)

BRH-23 2.0- 11.0 5.67

27.5- 53.2 10.97

BRH-25 3.0- 79.3 7.01

83.0- 97.6 6.50

BRH-27 1.0- 18.0 6.96

22.5- 24.1 7.17

43.0- 57.5 4.34

70.0- 96.0 5.14

102.6- 106.6 6.27

134.1- 138.1 3.18

142.1- 146.1 2.28

156.1- 164.1 1.87

168.1- 170.1 2.62

BRH-28 20.8- 21.8 8.93

31.4- 35.2 2.55

63.7- 67.7 2.04

86.0- 87.3 4.88

94.5- 96.5 2.42

109.1- 113.1 2.49

117.0- 125.0 2.36

128.7- 134.7 2.78

138.4- 144.4 2.05

152.5- 156.5 3.44

178.3- 188.3 6.08

190.3- 202.4 2.70

219.7- 222.4 4.37

BRH-29 14.2- 17.2 13.50

22.5- 75.2 8.38

100.5- 107.9 12.08

277.3- 305.6 5.31

BRH-45 2.0- 12.0 4.18

84.0- 98.0 2.60

108.0- 110.0 1.03

114.0- 120.0 1.73

130.0- 142.0 2.81