March 2011 Quarter Activities Report
Exploration - Indonesia
• Trenching results support the presence of a shallowly eroded epithermal system with potential for underlying gold-bearing veins or stockwork (similar to Toka Tindung) at the Suruh Prospect in East Java.
Up to 20m at 0.30 g/t gold in stockwork mineralisation surrounding large eruption breccia
Up to 44m at 806ppm arsenic, 86ppm antimony, and 0.46ppm mercury in sulphidic eruption breccia containing sinter boulders.
• A major new gold target was confirmed from the results of trenching and soil sampling completed at the Soro Prospect in East Sumbawa.
Trenching returned broad gold intercepts in silicified limestone, including 38m at 1.41 g/t Au in SHT08, 38m at 2.88 g/t gold including 2m at 35.2 g/t gold in SHT13, and 24m at 1.31 g/t gold in SHT18.
Soil sampling highlighted a large coherent gold-pathfinder geochemical anomaly over the silicified limestone that extends over a large area of 3km by 2km.
• Results of geophysical surveys at the Baku Prospect in East Sumbawa highlight a magnetic low and elevated IP/Resistivity values beneath the gold-mineralised stockwork and the alteration lithocap on Baku Hill; supporting the potential extension of the mineralisation to at least 150m depth.
• ARX – Anglo Strategic Alliance commenced further regional exploration on the West Papua IUP during the quarter.
Corporate
• The Company successfully raised $6.9 million through the exercise of ARXOA options at 3.6 cents per share. Over 95% of the options (which expired 31 January 2011) on issue were taken up.
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