"Arc Exploration Limited (ASX code: ARX) is pleased to announce that exploration activity has recommenced on the IUP tenement held under the Strategic Alliance between Anglo American and ARX, in West Papua.
The Alliance currently holds an exploration IUP tenement covering approximately 1000 Km2 of highly prospective ground in the same belt of rocks that host the giant Grasberg mineral district. Previous results demonstrate that the area is highly prospective for both epithermal gold and porphyry copper-gold deposits. At Aisasjur, the first prospect identified, gold mineralization persists from surface to 700 meters and is underlain by porphyry copper-gold mineralization."
ASX ANNOUNCEMENT 10 JANUARY 2011"
About the Aisasjur Project-ASX ANNOUNCEMENT 29 JULY 2010 ARX – ANGLO AMERICAN STRATEGIC ALLIANCE EXTENDED IUP GRANTED FOR AISASJUR PROJECT
Scout drilling by Normandy returned strongly mineralised intercepts in extensive vein stockworks,
including 28.4 m at 1.10 g/t gold from 16.6 m (ASD2), 32 m at 4.2 g/t gold from 251.3 m (ASD-5), 55 m at 2.1 g/t gold from 214.75 m (ASD-7), and 143.3 m at 0.3 g/t gold from 3 m (ASD-8). This work clearly demonstrated potential for a major bulk tonnage gold target but was not pursued for non-technical reasons."
.... WOW ... imagine if ARC release those results today as part of a drilling campaign .... BOOM
... Canadian project has what ?
... sure it's expensive terrain to explore and locals are an endless issue ... but ... the next Grasberg probably isn't in Canada !!
... this was a company making project imo. ARC still have a bridgehead in Indonesia, why ARC's attention maybe on Canada is disappointing and the market seems to agree so far on Canada [?]
... a new large Papua project may excite the market more than a tired Canadian project.
Trenggalek drilling ????
Go the ARC !
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