G-Resources continues to receive encouraging results from exploration at the Martabe Gold-Silver Project in North Sumatra, Indonesia, as well as from regional exploration targets over the Contract of Work (CoW). Recent success has been obtained from the Horas West and Golf Mike North prospects.
Drilling at the Horas West sulphide target has returned high grade results, including 3.0 metres @ 24.46 grams/tonne (g/t) gold and 147 g/t silver, and 7.6 metres @ 7.41 g/t gold and 34 g/t silver.
The Horas deposit is about 3km southeast of the Purnama Pit and Martabe process plant, and south of the Barani deposit. Drilling in 2011 discovered a high grade zone in the west, referred to as the Horas Barat prospect.
Since the previously reported results, results have been received from a drilling program of 12 holes. This program consisted of closely spaced holes into the high grade zones, and has shown there is short range continuity within these high grade zones. Lack of continuity and high nugget effect over short ranges is a common limitation on high grade gold deposits.
The latest results continue to show the potential for narrow, bonanza grade gold zones over a 900 metre strike length. Further drilling is planned to test the strike repetitions to the known pods and look for additional bonanza grade zones.
Exploration work is continuing over the prospective, 1639sqkm CoW. The perseverance of G-Resources over an extended time has been resulted in porphyry copper-gold style mineralization and alteration being discovered at the Golf Mike North prospect, which is about 7km southeast of the Martabe mine.
Significant copper and gold results have been received from selected surface rock chip and float samples, with best result from bornite bearing skarn being 1.6% copper and 2.2 g/t gold. At this early stage the Golf Mike North results are encouraging, but the economic potential of this prospect is not yet known.
After the results of current and planned geochemistry and geophysics surveys have been received, G-Resources will be in a position to determine if a viable drill target is present.
While the results of geochemical sampling are awaited, company geologists continue to map and sample the wider district. Amongst other programs, a soil sampling program at 500 metre spacing is under way to cover the area between Golf Mike and the Martabe mine. This program is using the same low detection limit chemical assay method that located the porphyry copper-gold style mineralisation at Golf Mike.