Australia's Laverton finds gold at Rawas<\/p>\n
JAKARTA (JP): A Western Australian mining company, Laverton
\nGold N.L. (Laverton), announced to the Australian Stock Exchange
\nyesterday the discovery of new substantial gold bearing deposits
\nat its 100 percent owned Rawas gold project in Rawas, South
\nSumatra.<\/p>\n
The chief executive officer of Laverton, Jim William, said in
\na statement made available to The Jakarta Post yesterday that the
\nnew finds will add significantly to the strength of the ore
\nreserves at Rawas.<\/p>\n
\"The two discoveries are within 10 kilometers of the present
\npits, all contained within the 117-square-kilometer contract of
\nwork that Laverton has established with the Indonesian
\ngovernment,\" he said.<\/p>\n
Being one of the few contract works with the Indonesian
\ngovernment which does not require a local partner, William said
\nRawas was destined to provide significant benefits for Laverton
\nshareholders.<\/p>\n
Rawas was originally identified in 1986 by CRA Limited, which
\nsold the resource to the Setdco Group, which is controlled by
\nprominent Indonesian businessman Setiawan Djody.<\/p>\n
Laverton bought Rawas in 1993 in exchange for cash and shares,
\nresulting in Setdco taking a strong equity position in Laverton,
\ntaking two seats on the board of directors, the statement added.<\/p>\n
William said that trenching in the Jenih area, two kilometers
\nof the Rawas project, had identified quartz zones over an area of
\n900 by 230 meters with substantial grades, between 1.38 grams and
\n32 grams per ton, at shallow depths.<\/p>\n
Outcrop and auger drilling at the Telun Merangin system, 10
\nkilometers northwest of Rawas, has identified gold-silver
\nmineralization associated with quartz veining over an area of 600
\nby 400 meters showing up to 11 grams of gold per ton, he said.<\/p>\n
With a low recovery cost of below US$250 per ounce and the
\nprospect of more ore bearing deposits still to be identified,
\nWilliam said it could be expected the resource would extend
\nbeyond its already identified seven years of resource life. (04)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/australias-laverton-finds-gold-at-rawas-1447893297",
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