Arc Exploration re-assays hole at Dobroyde, 22m at 37.3 g/t gold
These include 22 metres at 37.3 g/t gold, 6 metres at 18.2 g/t gold and 16 metres at 10.5 g/t gold.
Now the Dobroyde gold deposit, forms part of the Junee Project that is located in the Lachlan Orogen, which is a complex geological province but endowed with world-class gold and gold-copper deposits.
It is not Arc's main thrust which is in Indonesia, where it has two key projects located in two of the most fertile magmatic arcs where exploration is fully funded through JV/Alliance with Anglo American (LON:AAL).
However, there is promise at Junee as it does contain drill-indicated gold resources and/or advanced exploration targets with potential to increase gold resources; only shallow historic drilling and multiple exploration targets to date.
It holds four exploration licenses (87km2).
Dobroyde is a high-sulphidation epithermal gold system discovered by Getty Oil in the early 1980’s. Arc has a:
12-month Option until 2 July 2014 ($100,000 commitment)
To earn 51% ARC needs to spend $500,000 within 2 years
To earn 80% ARC needs to spend a further $580,000 within an additional 1 year
So for modest expenditure, Dobroyde begins to look interesting as it contains some spectacular historic high-grade intercepts, such as 22 metres at 37.3 g/t gold, 16 metres at 10.5 g/t gold and 6 metres at 18.2 g/t gold, within an envelope of low-grade material.
There may be potential for further bonanza gold grades within and surrounding Dobroyde, which would be fine indeed as the project is occurs near major mine operations and development infrastructure.
Managing director, Dr Jeffrey Malaihollo, said:
“This recent intercept confirms the occurrence of high-grade gold at Dobroyde and raises our expectation that high-grade mineralisation may also occur in other parts of the project area.
"The moderate gold resource we have previously announced at Dobroyde doesn’t include this recent intercept. The geological controls on the high-grade gold distribution within the deposit are not well understood.
"We are using a consultant to analyse the historic gold intercepts for discernible patterns that might lead us toward finding extensions to the high-grade zone.
"Another consultant is currently reprocessing and modelling the previous detailed geophysical data acquired over Dobroyde, including high-resolution airborne magnetics and a 3-Dimensional IP-Resistivity ground survey.
"Results from this will be used to help target for potential resource extensions and porphyry gold-copper targets that are commonly associated with high-sulphidation epithermal gold deposits like Dobroyde.
"We look forward to reporting the results of this work in the coming months."
Further high impact news flow is in the pipeline for Arc, with drilling in progress at the Trenggalek copper-gold porphyry project in Indonesia, a joint venture with Anglo American which is fully funding the exploration program.
Scout drilling commenced on one of these targets, Jerambah Prospect, in early October 2013.
So Arc has two Anglo American fully funded joint ventures, with Anglo spending up to $20 million testing additional copper potential.
Arc is free carried to end of pre-feasibility studies.
For a company with a $$4 million market cap, $2.7 million cash and $141 million accumulated losses, there is significant leverage to exploration news in Indonesia and Junee going forward.
Trenggalek lies in the Southern Mountains of East Java, which hosts Intrepid Mines' (ASX:IAU) Tumpangpitu porphyry copper-gold deposit, with a 1.7 billion tonne resource at 0.41% copper 0.46 grams per tonne gold.
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