An Indonesian tin company has launched an exploration program to test two properties held by
The Wae Dara and Nggorang properties, about 15 kms apart, are said to be prospective for Kuroko-type volcanogenic base metal mineralization. Koba Tin can earn a 92.5% interest in both properties by spending US$700,000 on option and cash payments over three years.
Earlier this fall, Iriana began a exploration program at the Mafi prospect in Irian Jaya. Recent channel sampling returned values as high as 26.7 grams gold and 445 grams silver per tonne, plus 10.4% lead. Chip sampling of gossans returned up to 737 grams gold, 1,760 grams silver, 23.3% lead, 13.4% zinc and 1.3% antimony. The land package is near the border with Papua New Guinea, about 150 km from the Ok Tedi and Frieda River copper deposits.
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