High Grade Gold Expands Baku East
Bima Project, East Sumbawa
Arc Exploration Limited (ASX Code: ARX) is pleased to report a new high grade gold intercept from Baku East.
- High grade gold in trenching
- Expanded potential for bulk tonnage gold
- Drill contract for up to 15,000 metres signed
A new trench intercept of 12m at 3.44 g/t gold at Baku East includes a high grade section of 2m at 12.6 g/t gold and that is hosted in stockworked volcanics. It is located about 300m to the east of the recently reported high-grade gold intersection of 12m at 24.8 g/t gold including 3m at 64 g/t gold on Baku Hill.
The mineralised quartz stockwork zone at Baku East is within the same alteration lithocap that contains Baku Hill.
Arc Exploration has now signed a drilling contract with a major Indonesian drilling company to undertake up to 15,000m of diamond drilling at its project areas as part of its planned program of activity for 2011.
Managing Director Mr. John Carlile commented:
"This is the first high-grade intersection identified at Baku East. Based on this result, Baku East is shaping up to be like Baku Hill where high grade veins occur within a lower grade gold bearing stockwork zone.
The new result significantly extends the potential of the overall Baku area which remains open for further extensions to the east.
Trenching is continuing throughout the Baku area and interpretation of the recently completed geophysical surveys should be available over the next few weeks. Results will be used to site drill holes.
We have now signed a drilling contract and plan to commence drilling at Bima before the end of the current quarter."
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