Freeport finds new gold and copper deposits in Irian Jaya
Freeport finds new gold and copper deposits in Irian Jaya
JAKARTA (JP): Freeport-McMoRan Copper & Gold Inc. announced
over the weekend that it has intercepted within an igneous
granitic intrusion, copper mineralization along a 240 meter
interval that averages 1.16 percent copper, 0.1 gram of gold per
ton and 6 grams of silver per ton, at its Lembah Tembaga prospect
located approximately one kilometer southwest of its Grasberg
deposit in Irian Jaya.
The hole was drilled at a 45 degree angle from a surface
elevation of 3,707 meters and intersected the intrusion at 366
meters downhole from surface, the U.S. company said in a press
release.
At 785 meters downhole from surface, "stockwork-like" copper
mineralization was intercepted and continues to 1,025 meters,
yielding the assays, the release added.
The company is engaged in the exploration, mining and milling
of copper, gold and silver in Irian Jaya and the smelting and
refining of copper concentrates in Spain.
With only one exploration hole into this intrusion, it is not
possible to predict the extent of the mineralization. If a
commercial deposit is present, the company has the option of
mining Lembah Tembaga through the possible extension of the
Grasberg open pit or underground through block caving.
If block caving were used to mine this area, the potential
orebody could be accessed from the present mill through a series
of adits (tunnels), including either the Amole adit or the Big
Gossan exploration drift both being driven at the 2,900 meter
elevation.
One of these adits would have to be extended approximately two
kilometers to the west or northwest in order to gain access if
the underground block caving method were to be utilized.
Three additional rigs are being moved into the area providing
a total of four rigs to begin delineation of this area and
determine if this mineralization is commercial.
Furthermore, the company is currently drilling with one rig at
its Etna Bay prospect and is in the process of bringing a second
rig into the area.
Exploration activities also continue at the Big Gossan Wanagon
and Wabu properties as well as at other locations within
Freeport's nine million acre area in Irian Jaya.