Operator Antares Mining and Exploration (ANZ-T) has revised resource estimates for the Tambang and Jambi gold-silver zones on its Ojolali property in Sumatra, Indonesia.
Drill-indicated resources at the Tambang zone now stand at 4.8 million tonnes grading 0.56 gram gold per tonne and 120 grams silver, whereas those at the Jambi zone are pegged at 4.1 million tonnes grading 1.46 grams gold and 15 grams silver.
The last estimates, released in November 1997, pegged Tambang at 3.89 million tonnes grading 0.57 gram gold and 121 grams silver and Jambi at 2.91 million tonnes grading 1.62 grams gold and 10 grams silver.
To date, Antares has completed 5,000 metres of drilling at the Tambang zone, covering half of its estimated 2.9 km of strike length. Another 3,000 metres has been drilled at the Jambi zone, where about 1.3 km of strike still remains to be tested.
All holes were drilled on fences spaced 100 metres apart.
Highlights from recent drilling at the Tambang zone include 4 metres of 1.05 grams gold and 558 grams silver in hole 24 and 5 metres of 0.45 gram gold and 316 grams silver in hole 25. Both intersections were near surface.
The best results from holes recently drilled at the Jambi zone are 1.78 grams gold and 7 grams silver over 17 metres in hole 18 and 1.17 grams gold and 6 grams silver over 95 metres in hole 21. Both intersections start at surface.
By year-end, Antares hopes to have drilled a sufficient number of holes at both zones to warrant the initiation of a prefeasibility study.
Meanwhile, exploratory drilling is continuing elsewhere on the property. A recent hole on the Wujun prospect, 1 km west of the Tambang zone, yielded 15 metres grading 0.43 gram gold and 53 grams silver. Drilling at Wujun will resume once several of the remaining prospects on the property have been tested.
Antares holds a 76.5% interest in the 31,644-ha Ojolali property. The remainder, which is held on a carried basis, is divided between Coleville Resources (CLL-A) (13.5%), and private Indonesian partners (10%).
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