Augur Resources has announced a maiden resource estimate at a deposit within its 51%-owned Wonogiri gold-copper project in central Java. The Randu Kuning deposit has a JORC-compliant resource of 1.54 million ounces of gold equivalent or 91 million tonnes for 1.01 million ounces of gold and 200 million pounds of copper.
The deposit remains open to the north and south with no forestry restrictions and multiple epithermal targets available for further drill testing.
The estimate was calculated using block model techniques on data from 55 diamond drill holes. The prospect contains a highly altered wall rock porphyry with epithermal mineralization occurring in the immediate surrounds. Drilling has identified a number of epithermal vein systems containing wide zones of anomalous gold mineralization.
Augur’s managing director Grant Kensington says, “We are tremendously encouraged about the prospects for Wonogiri and the Randu Kuning resource. We have been able to define a significant shallow resource in just over a year for less than $4 per ounce. This project will now move to a pre-feasibility study.”
He says a number of other prospects within the Wonogiri project area are yet to be fully tested and will now be the target of definition drilling.
The 3928 hectare Wonogiri project is about 30km south of the provincial city Solo in central Java, which is easily accessible by daily flights or on sealed roads. It lies within the Sunda Banda arc considered prospective for epithermal gold and porphyry copper-gold mineralization. The project area has been previously explored by PT Oxindo between 2009-2010.
There are a number of significant porphyry deposits along this zone including Newmont Mining’s 914 million tonne operation at Batu Hijau, Newmont’s Elang deposit on the island of Sumbawa and Intrepid Mines’ 1700 million tonne Tujuh Bukit in eastern Java.