Quebec explorer Virginia Gold Mines (ME) has signed an agreement with a private company to acquire the Lamprung property on the Indonesian island of Sumatra.
The exploration permit, which covers 20 sq. km, is in the Banda-Sunda magmatic arc, which hosts the Pongkor gold deposit, as well as other producers hosting more than 1 million oz.
Previous work, carried out in the early 1990s, returned values of up to 0.3 oz. gold per ton obtained from hydrothermal breccias mineralized in sulphides. Encouraging gold values were also obtained from erratic blocks of similar material and from epithermal quartz.
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