Resource boosted at Busang

When Bre-X Minerals (ASE) began exploring for gold in Indonesia several years ago, it hoped to find deposits with multi-million-ounce potential. Today, that aspiration is being realized at the company’s Busang gold project in East Kalimantan.

Based on assays and visual results from recent work, the junior is confident a resource in the range of 6-8 million oz., in various categories, will be achieved by November.

Bre-X, a 24%-owned affiliate of Bresea Resources (ME), recently reported drill-indicated and inferred reserves of 2.4 million oz. in the Central zone. This potentially open-pit resource is expected to increase to 3 million oz. by October.

The company is in the midst of a third phase of drilling on the Central and Southeast zones.

To date, 56 holes totalling 32,554 ft. have tested the Central.

Bre-X is particularly encouraged by drill results from the Southeast zone, where eight holes totalling 7,314 ft. have been drilled.

Results are in hand for several of these holes, which intersected near-surface mineralization.

The first hole returned several mineralized intercepts, including 10 ft. of 0.12 oz. gold per ton; 33 ft. of 0.07 oz; 13 ft. of 0.10 oz.; and 695 ft. of 0.09 oz. Hole 3 returned 59 ft. of 0.19 oz. and 407 ft. of 0.12 oz., while hole 24 returned an impressive 364-ft. interval grading 0.14 oz.

Cyanide extraction analysis was used on core from holes 1 and 24, whereas fire assay analysis was applied to core from hole 3.

Two additional drill rigs are at work on the Southeast zone.



Republish this article

Be the first to comment on "Resource boosted at Busang"

Leave a comment

Your email address will not be published.


By continuing to browse you agree to our use of cookies. To learn more, click more information

Dear user, please be aware that we use cookies to help users navigate our website content and to help us understand how we can improve the user experience. If you have ideas for how we can improve our services, we’d love to hear from you. Click here to email us. By continuing to browse you agree to our use of cookies. Please see our Privacy & Cookie Usage Policy to learn more.