Geochemical sampling on two Indonesian properties held by Indomin Resources (IRL-V) has revealed potential areas of gold-bearing mineralization.
At the Busang North project in Kalimantan, six of 13 loose rock samples taken along a 600-metre east-west-trending ridge returned between 1.5 and 5 grams gold per tonne, while two samples assayed between 0.35 and 1 gram gold. The ridge, which represents the major drainage divide in the area, coincides with an aeromagnetic high and soils rich in arsenic, mercury and antimony.
All the samples were of intrusive rocks altered to clay and sericite. The rocks host pyrite and arsenopyrite in thin quartz veins and as disseminated mineralization.
Future exploration will try to pinpoint drill targets.
At the East Sulawesi project in Sulawesi, ongoing regional reconnaissance work has encountered anomalous gold values in stream-sediment samples. Although the values were low (2 to 3.8 parts per billion), other companies working in the region have found the carbonate source rocks to be generally barren of gold.
The company is currently attempting to locate the source of the gold in the carbonate lithology.
In other news, heavy smoke over Kalimantan has resulted in a 30-day extension being granted to Normandy Anglo Asian (NAAL) for its due diligence review of Indomin’s Indonesian properties. The review began in September.
NAAL can earn a 51% interest in all of Indomin’s exploration projects in Kalimantan, Sulawesi and Java by spending a total of US$10 million on exploration.
NAAL is a jointly owned by Normandy Mining (Australia’s largest gold producer) and Minorco (an affiliate of Anglo American, the world’s largest gold producer).
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