John Seton, Chief Executive Officer of Olympus Pacific Minerals, declared that the company is receiving positive exploration results and advancing with its mining feasibility studies in the Jugan Sector of its Bau Central property located in Sarawak, East Malaysia.
According to Seton, drilling program at the Bau Gold Trend’s Bau Central continues to return positive results and calls for mining feasibility studies. The announcement of the latest resource estimate at Bau Central demonstrates the company’s ability to successively develop other deposits in the Bau Gold Trend and further reiterates the idea that Bau could become one of the major producing goldfields in Southeast Asia.
On the Jugan gold deposit, both step-out and in-fill drilling continues to produce encouraging results and shows good continuity of mineralization and higher value of gold grades in the deposit’s core. The company has upgraded the resource categories, and current exploration activity of open-ended mineralization extensions is anticipated to extend the deposit further than the present resource figures.
A near-surface gold deposit, Jugan lies at the Bau Central gold trend’s northern end. It includes sediment-hosted mineralization inside a thick sandstone/shale sedimentary chain. Sills, dykes and dacite porphyry stocks intrude the deposit region, which is transected by regional faults and fault sets.
The existence of a deep northeast-southwest trending mineralized zone, which is analogous to the Bau gold trend, has been validated on numerous drill section lines. The mineralized zone plunges northwest and stays exposed along strike in both orientations and past the 200 m vertical depth.
Barium and other trace element values indicate the possibility of higher grade mineralization at depth, as specified in the northeast-facing cross-section. The company is planning for a comprehensive geochemical survey, IP geophysical study and alteration studies that are anticipated to produce better insights about the depth and lateral ridges of gold mineralization in the Jugan sector.
The Bau gold trend includes 34 gold prospects, which are at different phases of reconnaissance development. The present NI43-101/JORC global resource is 3.02 M oz gold. Geochemical, geophysical, and geological studies and other drill campaigns are being conducted to expand and revise this resource
Source: http://www.olympuspacific.com/