And here we have it, nice results for such a tiny market cap..
ASX ANNOUNCEMENT 22 SEPTEMBER 2010
NEW GOLD RESULTS EXPAND THE BAKU PROSPECT
AT BIMA, EAST SUMBAWA
Arc Exploration Limited (ASX Code: ARX) is pleased to report further gold results from the Baku Prospect including:
A large (>300m by 200m) gold-multielement soil anomaly centred on an altered and mineralised porphyry intrusion with;
High gold in continuous rock-chip samples within the soil anomaly.
12m @ 1.7 g/t Au including 1m at 10.2 g/t Au and;
3m @ 6.75 g/t Au including 1m at 12.3 g/t Au
A second (>200 m by 100 m) gold soil anomaly.
These results further highlight the potential of Baku to host a substantial near-surface bulk tonnage gold system with deeper porphyry copper-gold potential.
The Baku Prospect is one of a number of prospects within the Bima Project area and is centred on a 400m by 300m silica-clay/vughy silica alteration lithocap developed on a quartz-feldspar porphyry that intrudes andesitic-dacitic volcanic rocks in the south of the tenement.
Recent geological mapping, and soil and rock chip sampling has identified two new areas of interest at Baku:
Firstly; a >300m by 200m coincident Au-Ag-As-Sb-Mo soil anomaly over a quartz stockworked altered porphyry intrusion. The soil anomaly is open to the southeast.
Within the soil anomaly rock-chip sampling showed elevated gold and multielement results. Thirty-six of 88 (~40%) rock samples returned >0.2 g/t gold assays with a mean of 0.83 g/t Au.
A best result of 12m at 1.7 g/t Au and 10 g/t Ag, is associated with a zone of stockworked veining. This includes a high-grade result of 1m at 10.2 g/t Au with 24 g/t Ag. Another continuous-chip sample, taken 80m to the northwest returned 3m at 6.75 g/t Au, including a high-grade result of 1m at 12.3 g/t Au and 24 g/t Ag.
Secondly; about 250m to the northeast is a >200m by 100m gold soil anomaly that is open to the northeast.
The results indicate potential for a large bulk tonnage gold system possibly related to deeper porphyry-style copper-gold mineralisation.
Infill soil and rock chip sampling are now underway at Baku.
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