Mispec starts exploration at Java gold property

The Jampang gold project in Java, Indonesia, is being explored by Mispec Resources (ME).

The property comprises 7,700 hectares, within which substantial surface exploration has been carried out. Initial work will include 26,000 metres of exploration and delineation drilling of previously identified, high-priority targets in the LIPI and Pasir Keusik zones. A compilation study in 1991 identified several geological targets which will be re-assessed.

Gold mineralization is found in structurally controlled quartz veins and in the altered and silicified volcanic rocks and breccia pipes traceable for a strike length of 12-15 km and across a width of 4-6 km.

The relative elevations of known workings indicate the mineralization has a vertical extent of 400 metres. Extensive surface exploration has disclosed several showings of gold in the large lode systems and indicated the possible presence of gold-bearing siliceous caps, breccia zones, auriferous porphyries and wide belts of gold with sulphides between the lodes. Based on previous exploration, Mispec believes several of the lode systems at the site have the potential to yield gold values of 6.9-13.7 grams per tonne, with significant silver mineralization.

Mispec’s initial program is being funded by a recently closed private placement of 1.2 million units priced at $1.35 each, for a total of $1.6 million.