Pursuit finds gold in Borneo

Shortly after announcing plans to investigate opportunities outside the mining sector, International Pursuit (IPJ-T) has reported an early-stage gold discovery in Kalimantan, Indonesia.

The Toronto-based junior holds a large land package in Kalimantan, as well as ground in the Philippines and Mongolia. Recent exploration efforts in Kalimantan were focused on the Mahakam contact of work (CoW), particularly the East block, where mineralized intrusive structures have been identified.

Within this Mahakam cluster area, Pursuit has identified two porphyry copper-molybdenum-gold discoveries. The Manto and Tebihi prospects are being followed up by technical surveys.

The new Seleheh gold discovery resulted from regional prospecting and geochemical surveys at the Mahakam East block. It has since been identified as a classic low-sulphidation epithermal gold target. The first-pass sampling program yielded results of up to 2.2 grams gold and 71 grams silver per tonne, with high base metal values. Alluvial gold workings are situated downstream of the discovery area.

On the Mahakam West block, Pursuit has identified two new targets: Naha Silat, a silver-gold-copper prospect, and Piyomgi, a possible copper porphyry.

Pursuit says several majors are reviewing its Indonesian properties for possible joint ventures.

The company is also looking to joint-venture or sell its Hinoba-an project in the Philippines. At last report, Hinoba-an hosted a drill-indicated resource of 220 million tonnes grading 0.46% copper. A former owner has made legal claims against the project, though Pursuit’s legal counsel describes the claims as “without merit.”

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