December 2010 Quarter Activities Report
Arc Exploration Limited (ASX:ARX) has released its December 2010 Quarter Activities Report. In summary:
Exploration - Indonesia
- The primary focus of field activity during the quarter was on Bima in East Sumbawa with the aim of rapidly advancing this project toward scout drilling in 2011.
- Initial trench results from Baku and Kowo prospects support large bulk tonnage gold potential; significant gold intercepts include:
Baku
86m at 2.78 g/t Au containing 4m at 34.3 g/t Au
22m at 2.15 g/t Au containing 2m at 12.1 g/t Au
Since the end of the quarter the Company has reported further results from Baku including 12m at 24.8 g/t Au containing 3m at 64 g/t Au.
Kowo
28m at 0.47 g/t Au & 8.5 g/t Ag in KT-04
32m at 0.68 g/t Au & 22 g/t Ag in KT-06
- Gold-soil anomaly highlights a new gold target in silicified calcareous rocks at Soro.
- ARX Since the end of the quarter the Company has reported that Anglo American have recommenced exploration on the West Papua IUP.
Corporate
- The Company completed a Share Purchase Plan and issued 137,443,848 shares raising $3,023,765.34 at an issue price of 2.2 cents per share.
To read the full Activities Report, please view the ASX announcement.
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