Quarterly Report
Three months ending
30 September, 2000
Cibaliung Project - West Java, Indonesia
- Exploration activity for the quarter focussed on diamond drilling to define extensions to the known mineralisation of the Cibitung Shoot. Eight holes were drilled (AC-008 to AC-015) for a total of 2,387.8 metres.
- Significant vein intercepts (with no cut-off applied) include:
AC-010: 37.40m @ 6.20 g/t Au, AC-013: 29.55m @ 4.03 g/t Au,
AC-014: 10.25m @ 7.17 g/t Au, AC-015: 31.75m @ 4.20 g/t Au.
- The Department of Mines & Energy has approved the renewal of the Cibaliung KP (Kuasa Pertambangan) KW96PP0019 (15,710 hectares) for a further 3-year exploration period until 12-May-03.
- Approval was granted on 10-July-00 to incorporate a mining services company called PT. Cibaliung Sumberdaya to operate the Cibaliung project under a KP. The Deed of Establishment signed on 19-July-00.
Expenditure
- Total exploration expenditure for the quarter was A$ 599,217.
John C. Carlile
Managing Director & CEO
18th October, 2000
FIGURE 1: Current drill-hole locations at Cibaliung Project.
Exploration
Cibaliung Project - West Java, Indonesia
Cibitung Shoot - Diamond Core Drilling
Exploration activity for the quarter focussed on diamond core drilling to define extensions to the known mineralisation of the Cibitung Shoot. Eight holes were drilled (AC-008 to AC-015) for a total of 2,387.8 metres (see Figure 1). The drilling has confirmed that the mineralisation at is in the form of a shoot with a strike length of approximately 120 metres from south to north, extending down-dip to 300 metres below surface.
Six of the holes intersected broad zones of quartz vein and vein stockwork carrying gold mineralisation as shown in Table 1. The gold and silver grades are averaged over the geologically defined vein but no grade cut-off or top-cut has been applied to the results.
Hole
Number
|
Section
Line
|
Depth
From
(m)
|
Depth
to
(m)
|
Downhole
Length
(m)
|
Gold
grade
(g/t)
|
Silver
grade
(g/t)
|
AC-008
|
4500 N
|
208.25
|
234.45
|
26.20
|
3.06
|
28
|
AC-010
|
4520 N
|
240.85
|
278.25
|
37.40
|
6.20
|
50
|
AC-011
|
4440 N
|
197.80
|
214.83
|
17.03
|
2.68
|
24
|
AC-013
|
4480 N
|
312.25
|
341.80
|
29.55
|
4.03
|
128
|
AC-014
|
4440 N
|
158.95
|
169.20
|
10.25
|
7.17
|
72
|
AC-015
|
4440 N
|
255.70
|
286.45
|
31.75
|
4.20
|
n/a
|
TABLE 1: Results from Cibitung shoot with no cut-off or top-cut applied.
Within the broader vein structure, zones of high-grade mineralisation can be defined by applying a grade cut-off of 3.0 g/t Au. The most geologically consistent of these zones is the hangingwall or eastern contact of the vein structure. Other zones with grades in excess of 3.0 g/t Au also occur within the body of the vein structure towards the footwall or western contact. These latter zones do not yet demonstrate the same degree of geological continuity as that of the hangingwall zone.
Assay values from the high-grade zones intersected during the quarter are shown in Table 2. Average grades have been calculated using a 3.0 g/t Au cut-off and no top cut has been applied to the raw assay data.
Hole
Number
|
Section
Line
|
Lode
|
Depth
from
(m)
|
Depth
to
(m)
|
Downhole
length
(m)
|
Gold
grade
(g/t)
|
Silver
grade
(g/t)
|
Core recovery
%
|
AC-008
|
4500 N
|
Hangingwall
|
217.20
|
220.75
|
3.55
|
15.77
|
62
|
94.40%
|
AC-008
|
|
|
232.40
|
233.15
|
0.75
|
4.93
|
150
|
88.00%
|
AC-009
|
4720 N
|
|
No significant mineralisation
|
AC-010
|
4520 N
|
Hangingwall
|
241.80
|
248.20
|
6.40
|
12.13
|
22
|
98.40%
|
AC-010
|
|
|
256.95
|
269.15
|
12.20
|
11.29
|
101
|
97.40%
|
AC-011
|
4440 N
|
Hangingwall
|
197.80
|
203.40
|
5.60
|
4.75
|
11
|
97.10%
|
AC-011
|
|
|
243.05
|
245.50
|
2.45
|
3.40
|
228
|
99.20%
|
AC-012
|
4400 N
|
|
No significant mineralisation
|
AC-013
|
4480 N
|
Hangingwall
|
312.25
|
326.00
|
13.75
|
7.45
|
213
|
99.30%
|
AC-013
|
|
|
340.20
|
340.80
|
0.60
|
3.94
|
50
|
100.00%
|
AC-014
|
4440 N
|
Hangingwall
|
162.95
|
166.60
|
3.65
|
18.86
|
114
|
100.00%
|
AC-015
|
4440 N
|
Hangingwall
|
255.70
|
268.00
|
12.30
|
6.05
|
44
|
n/a
|
AC-015
|
|
|
276.00
|
279.00
|
3.00
|
10.62
|
127
|
n/a
|
AC-015
|
|
|
285.90
|
287.45
|
1.55
|
5.24
|
n/a
|
n/a
|
TABLE 2: Results from Cibitung shoot reported to 3g/t Au cut-off.
The deeper holes, AC-010, AC-013 and AC-015 suggest that the width of the mineralised shoot is increasing with depth along with an increase in the amount of development of clay rich veining and brecciation that is directly correlated with elevated gold and silver content. The Company plans to continue drilling during the coming quarter to trace the mineralisation down-dip and define the southern and northern limits of the shoot at depth.
A second drill rig has been commissioned and two holes, AC-016 & AC-017, are currently in progress. AC-016 is planned to intersect the vein structure 80 metres vertically below AC-010 while AC-017 is planned to intersect the vein structure 40 metres below and 40 metres to the north of AC-010. Depending upon the results further deep drilling is planned.
Cibitung Cross Sections
Figures 2 & 3 show six section lines across the Cibitung Shoot looking north. Figure 2 illustrates the new mineralisation discovered at depth towards the south of the prospect. Figure 3 shows new data for the northern part of Cibitung where current deeper drilling (AC-016 & AC-017) is in progress. Figure 4 is a schematic longitudinal projection that illustrates the extent of current drilling below the existing Cibitung Shoot resource block.
Cibitung Cross Sections
FIGURE 2: Cross Section Lines at Cibitung Prospect (south)
FIGURE 3: Cross Section Lines at Cibitung Prospect (north)
FIGURE 4: Schematic Longitudinal Projection of the Cibaliung Project
Additional Exploration
In addition to drilling at Cibitung, the Company plans further drilling at Cikoneng primarily to probe for deeper extensions of the Cikoneng shoot below hole CDDH-6.
Five holes are also planned at Cibeber & Melinjo (see Figure 5) to test known gold bearing vein systems below the present shallow drill intercepts.
New exploration, comprising detailed geological mapping, trenching and sampling, will be undertaken in the Batulawang and Bangkondol areas (see Figure 5) to the east of Cikoneng & Cibitung. Quartz veining, brecciation & clay-pyrite alteration occur in these areas, associated with a major northwest trending structure parallel to the existing
prospects.
FIGURE 5: KP Exploration Targets
Land Title
The Department of Mines & Energy has approved the renewal of the Cibaliung KP (Kuasa Pertambangan) KW96PP0019 (15,710 hectares) for a further 3-year exploration period until 12-May-03. This is a major achievement and is particularly significant, as it has been obtained prior to the delegation of authority to the district level.
Mining Services Company
The Company and its joint venture partner (International Antam Resources Ltd.) lodged an application with BPM-PBUMN (Indonesian Capital Investment & State-owned Enterprises Development Board) on 26-May-00 to form a mining services company called PT. Cibaliung Sumberdaya to operate the Cibaliung project under a KP. Approval was granted on 10-July-00 and the Deed of Establishment signed on 19-July-00.
Expenditure
Exploration expenditure in Indonesia during the quarter amounted to A$ 599,217.
In accordance with Australian Stock Exchange Listing Rule 5.10, this report is based on information compiled by Mr. Drew D. Henry as Consultant Geologist for the Company. Mr. Henry has consented in writing to the inclusion of such information in this report in the form and context in which it appears. Mr. Henry is a Fellow of the Australasian Institute of Mining and Metallurgy and a Member of the Australian Institute of Geoscientists and holds the relevant qualifications as a "competent person" as defined by the Australasian Code for Reporting of Identified Mineral Resources and Ore Reserves.
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