Antares starts prefeasibility study at Ojolali

Junior Antares Mining & Exploration (ANZ-T) has begun a prefeasibility study of the Jambi zone at its Ojolali gold property in southern Sumatra, Indonesia.

Fifty-eight infill holes will be drilled on 25-metre centres over the next two months to prove up resources of 2.5 million tonnes grading 1.96 grams gold per tonne and 16 grams silver. The resources were calculated following a 31-hole program of definition drilling, using a gold-equivalent cutoff grade of 1 gram.

Several holes will be twinned for metallurgical testing in an attempt to determine that the deposit is amenable to heap leaching, which is suggested by the preponderance of oxidation.

The Jambi zone is a conical hill of brecciated, oxidized and argillized volcanics. Higher gold and silver grades occur in the zone of oxidation.

Antares notes that geological settings and styles of mineralization similar to Jambi have been mapped to the north and east. Those areas are being investigated further in the hope that new resources will be found.

In addition to Jambi, Antares has outlined a resource of 4.1 million tonnes grading 0.73 gram gold and 192 grams silver in the Tambang zone. That resource is based on a cutoff of 2 grams gold.

Also on the property are several gold-silver prospects, one of which was tested by five core holes. Each hole intersected one narrow zone of mineralization grading between 1.31 and 12.25 grams gold and 1-4 grams silver.

Additional exploration is being deferred until infill drilling at Jambi is complete.

Antares holds a 76.5% interest in the 32,004-ha Ojolali property. The remainder is held on a carried basis by Coleville Resources (CLL-A), with 13.5%, and by private Indonesian partners, with 10%.

Indonesia’s mines ministry reportedly has agreed in principle to grant the partners a single contract of work for the entire property. This agreement allows Antares to apply for a licence to explore outside of the 2,224 ha in which work has been confined thus far.