A mineralized breccia body was discovered by Twin Gold (TWG-T) at its 85%-owned Layuh property in South Kalimantan, Indonesia.
The company says the body was exposed in outcrop over an area of at least 500 sq. metres. Porphyry-style copper-gold mineralization is reported to surround the breccia body over an area of 1.5 sq. km.
The breccia body was tested by recent trenching, which returned 0.21 gram gold per tonne over 15 metres, 1.57 grams over 4 metres and 0.91 gram over 11 metres.
Chip sampling of outcrop returned values of up to 1.27 grams gold and 0.46% copper, with a sample of float assaying 17.1 grams gold and 2.35% copper.
Twin Gold says these results are consistent with previous sampling and indicate the gold-rich nature of the porphyry system.
Ongoing work will include soil sampling and ground geophysics to identify gold targets, as well as work to test other breccias identified over a 5-km corridor of favorable rocks. The property is viewed as prospective for epithermal-style breccia gold deposits and related gold-rich porphyry-style mineralization.
Twin Gold has other exploration projects in Indonesia. However, its most advanced project is the Atlanta gold mine, a past-producer in Idaho where environmental permitting is in progress to mine near-surface reserves containing 1 million oz. gold and 3 million oz. silver. The company plans to carry out underground exploration in an attempt to double existing reserves.
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