Indomin Resources Limited - Busang North - Exploration Update.TORONTO--(BUSINESS WIRE)--May 22, 1996--Indomin Resources Ltd. (VSE See DOS/VSE. VSE - Virtual Storage Extended :IRL 1. (jargon, chat) IRL - In real life. Generally synonymous with f2f. 2. (language, robotics) IRL - Industrial Robot Language. ) Indomin Resources Limited is pleased to announce the following exploration progress on its Busang North gold project in Kalimantan, Indonesia. Exploration Highlights for the period February 15 through May 15, 1996. - SAR (Segmentation And Reassembly) The protocol that converts data to cells for transmission over an ATM network. It is the lower part of the ATM Adaption Layer (AAL), which is responsible for the entire operation. See AAL. SAR - segmentation and reassembly interpretation of Indomin's Busang North Contract of Work ("CoW") area has outlined favourable structure capable of hosting large epithermally mineralised gold intrusives. In particular, several large circular structures with radial drainage patterns cut by the northwest Kelinjau Trend have been identified. - Preliminary aeromagnetic data from the eastern third of the project area has identified one of the SAR circular structures to be coincident co·in·ci·dent adj. 1. Occupying the same area in space or happening at the same time: a series of coincident events. See Synonyms at contemporary. 2. with a 6 kilometre (3.75 miles) in diameter magnetic feature suggestive of suggestive of Decision making adjective Referring to a pattern by LM or imaging, that the interpreter associates with a particular–usually malignant lesion. See Aunt Millie approach, Defensive medicine. a large buried intrusive. - A field camp and logistical support base has been established, and helicopter pads cut at strategic locations throughout the CoW area. - Detailed stream sediment sampling is continuing, including detailed field follow-up of the circular features identified in the SAR. - A 3,800 line kilometre airborne magnetic survey and detailed data interpretation is continuing. Busang North Gold Project Indomin 85 percent, PT Amsya Lyna 15 percent Indomin's Busang North gold project is a 6th Generation CoW covering 127,644 hectares (315,280 acres) located northeast along structure from the massive Busang gold discovery of Bre-X Minerals Limited. The tenement A comprehensive legal term for any type of property of a permanent nature—including land, houses, and other buildings as well as rights attaching thereto, such as the right to collect rent. was applied for in July 1995, received Principle Approval from the Indonesian Government in October 1995 and was initialed by the Indonesian Department of Mines and Energy in March 1996. Field work has been underway since the middle of February. This first phase exploration program at Busang North comprises structural interpretation of Synthetic Aperture Radar Synthetic aperture radar (SAR) Radar, airborne or satellite-borne, that uses special signal processing to produce high-resolution images of the surface of the Earth (or another object) while traversing a considerable flight path. (SAR) imagery, a 3,800 line kilometre airborne magnetic survey, mapping, and detailed stream sediment geochemistry geochemistry, study of the chemical changes on the earth. More specifically, it is the study of the absolute and relative abundances of chemical elements in the minerals, soils, ores, rocks, water, and atmosphere of the earth and the distribution and movement of , including BLEG (Bulk Leach Extractable Gold) analysis. This program follows preliminary sampling at Busang North late last year which returned abundant free gold, zircon zircon Silicate mineral, zirconium silicate, ZrSiO4, the principal source of zirconium. Zircon is widespread as an accessory mineral in acid igneous rocks; it also occurs in metamorphic rocks and, fairly often, in detrital deposits. and sulphide minerals, including cinnabar cinnabar (sĭn`əbär), mineral, the sulfide of mercury, HgS. Deep red in color, it is used as a pigment (see vermilion), but principally it is a source of the metal mercury. (mercury sulphide) in panned concentrates from headwaters of small creeks in the southeast sector of the CoW area. SAR Interpretation A detailed structural interpretation of the entire Busang North tenement utilising satellite SAR imagery has identified the following significant structures: - A major east-northeast trending fault structure which passes near the Busang deposit in Bre-X's tenement to the south and strikes northwards north·ward adv. & adj. Toward, to, or in the north. n. A northern direction, point, or region. north through the eastern side of Indomin's CoW parallel to the Tertiary Kutai Basin margin. - A conjugate conjugate /con·ju·gate/ (kon´jdbobr-gat) 1. paired, or equally coupled; working in unison. 2. a conjugate diameter of the pelvic inlet; used alone usually to denote the true conjugate diameter; see set of major northwest-northeast trending fracture systems which straddle In the stock and commodity markets, a strategy in options contracts consisting of an equal number of put options and call options on the same underlying share, index, or commodity future. the contact between a Cretaceous Melange mé·lange also me·lange n. A mixture: "[a] building crowned with a mélange of antennae and satellite dishes" Howard Kaplan. and the Kutai Basin margin. - Two major northwest trending structural zones parallel to the northwest trending structure hosting the Busang mineralisation in the south. The first structure passes through the southeastern corner of the CoW and appears to follow the course of the Kelinjau River. We have termed this structure the Kelinjau Trend. The second parallel structure appears in the northeast corner of the CoW and has been termed the Marah Trend. - A series of east-west fractures which post-date the cross-cutting NW-NE fracture sequence but appear non-penetrative into the Tertiary Basin. - Several positive, topographic circular features believed to be intrusives in the southern half of the CoW. Of particular interest is a radial drainage pattern suggestive of a buried intrusive centre cut by with the major northwest Kelinjau Trend. Airborne Magnetic Survey To date some 1227 line kilometres or 33 percent of the planned airborne magnetic survey has been flown at a spacing of 400 metres over the eastern third of the CoW. The survey has encountered delays due to bad weather. Preliminary results of total magnetic intensity from the data collected to date indicate a circular feature some 6 kilometres (3.75 miles) in diameter suggestive of a large buried intrusive cut by a distinct northwest fracture system. This magnetic feature appears coincident with the radial drainage pattern identified by the SAR interpretation. Full interpretation of the area will be possible once the survey has been completed over the central and western portions of the CoW. Geochemical Survey A detailed stream sediment geochemical survey is continuing. Digitized topographic and drainage maps have been prepared on a 1 : 50,000 scale as a basis for field mapping and sample collection. The following samples are being taken at each sample site: 1 A -80 mesh BLEG sample from active drainages which are being assayed for gold and copper. (BLEG or Bulk Leach Extractable Gold sampling involves the collection of 3-4kg of fine silt and clay particles which are subjected to a bulk cyanide cyanide (sī`ənīd'), chemical compound containing the cyano group, -CN. Cyanides are salts or esters of hydrogen cyanide (hydrocyanic acid, HCN) formed by replacing the hydrogen with a metal (e.g., sodium or potassium) or a radical (e.g. leach over an extended period and gold values determined by analysis of a representative portion of filtered extract. This method has proved particularly effective in identifying fine-grained epithermal precious metal deposits and has resulted in significant discoveries in Australia and Indonesia (Newmont's Mesel and Batu Hijau deposits).) 2 A standard -80 mesh active stream sediment sample which is being assayed for base metals, arsenic, antimony antimony (ăn`tĭmō'nē) [Lat. antimoneum], semimetallic chemical element; symbol Sb [Lat. stibium,=a mark]; at. no. 51; at. wt. 121.75; m.p. 630.74°C;; b.p. 1,750°C;; sp. gr. (metallic form) 6. and mercury. 3 A pan concentrate sample which is being fire assayed for gold. 4 A pan concentrate sample which is being examined by microscope for the presence of cinnabar, base metal sulphides and other detrital de·tri·tus n. pl. detritus 1. Loose fragments or grains that have been worn away from rock. 2. a. Disintegrated or eroded matter: the detritus of past civilizations. heavy mineral species associated with epithermal alteration and gold mineralisation. (Cinnabar, or mercury sulphide, is indicative of high level epithermal gold mineralisation at the Bre-X's Busang deposit and CRA-RTZ's Kelian mine down trend to the southwest.) The distribution of anomalous gold, base metals and detrital cinnabar will be compared with the structural and aeromagnetic anomalies once all data is to hand. This will enable areas of potential mineralisation and drill targets to be determined through the third quarter of 1996 for drilling in the fall. The circular features identified in the SAR are currently being followed up in the field to determine their origin. Personnel and Logistics The Busang North field team is currently being increased from six to nine geologists. The total field team is in excess of 30 people. A field camp has been constructed in the southeast sector of the CoW with full helicopter logistical back-up. Helicopter pads have now been cut at strategic locations throughout the CoW. No stock exchange has approved or disapproved the information contained herein CONTACT: Indomin Resources Limited Paul Loudon, 416/955 9535 416/955 9538 (Fax) or Indomin Resources Limited Chuck Forrest, 416/955 9535 416/955 9538 (Fax) |
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