Here is a near term producer in Indonesia!
Their Rawas gold project is owned 100% by Laverton. They have nearly 1 miilion oz resource and 420,000 reserve. Mine very close to production, all COW's ar in order. 90%+ of property still unexplored. This is a long time Australian Stock Exchange member and debuted on the VSE in May.
The project is in Sumatra. Typically, not a lot of news is released by the Australian mining concerns so I thought I would start a thread with thiese latest findings. Please contact the sponsoring investment people @ Martyn Element & Associates (1-800-505-5655) for further information.
Dan Byrne
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FOR FURTHER INFORMATION PLEASE CONTACT:
Martyn Element & Associates
Johan Grandin
(604) 687-6820
(604) 687-6328 (FAX)
or
Martyn Element & Associates
Robert Matthews
(604) 687-6820
(604) 687-6328 (FAX)
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NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS
FOR: LAVERTON GOLD NL
AUSTRALIA STOCK EXCHANGE, VSE SYMBOL: LAV
OCTOBER 25, 1996
Laverton Gold - Rawas Gold Project, Indonesia -
Exploration Drilling Results Update
VANCOUVER, BRITISH COLUMBIA--Further drilling results from
exploration in the vicinity of the Rawas Gold Mine have been
received. Encouraging and very significant assays relate to
mineralised zones at Berenai North, adjacent to the Berenai Pit,
Aidit south of Berenai, Rozali west of Berenai, Berenai West and
Muara Curup North.
Two new holes have been returned at Berenai North in addition to
the results released in September which confirm and extend the
mineralised zones. These include BT-896 with 7 metres at 12.44
g/t gold and 46 g/t silver and 7 metres at 5.37 g/t gold and 58
g/t silver. Drilling is continuing to infill the vein system and
to test the mineralisation at depth. Gold bearing veins have now
been traced for 1,300 metres, including the Berenai Pit and have
not been closed off to the north or at depth.
At Aidit seven significant intersections have been received, the
best of which include 20 metres at 6.07 g/t gold and 61 g/t silver
(BT- 659); 2 metres at 23.35 g/t gold and 48 g/t silver (BT-722);
3 metres at 5.13 g/t gold and 4009 g/t silver (BT-686); and 1
metre at 81.4 g/t gold, silver awaited (BT-715). Further drilling
is planned to trace the veins to the east, a distance of
approximately 500 metres. Two main vein systems have been
identified at this stage.
The Rozali vein returned a further 13 significant holes, the best
of which was 1 metre at 10.76 g/t gold and 118 g/t silver
(BT-676); 1 metre at 12.90 g/t gold and 17 g/t silver (BT-678); 2
metres at 20.54 g/t gold and 439 g/t silver (BT-681); and 4 metres
at 9.94 g/t gold and 3 g/t silver (BT-705). Assay results have
now been received in full and resource calculations will commence
immediately. The vein falls within the upper reaches of the
tailings dam and pit optimisation studies will preface mine design
and planning in the early stages of the Rawas Gold Project.
At Berenai West BT-662 returned 7 metres at 5.13 g/t gold and 187
g/t silver. This vein suite is adjacent to the Berenai Pit and
further drilling will be required to allow pit optimisation in the
near future. The Muara Curup North veins (a new discovery)
returned 1 metre at 18.33 g/t gold and 689 g/t silver (BT-717); 6
metres at 3.69 g/t gold and 107 g/t silver (BT-714); and 1 metre
at 8.38 g/t gold and 533 g/t silver (BT-720). Further drilling is
currently underway to delineate the mineralisation.
A full list of significant results is included in the attached
table.
Significant results are quoted when the drill hole intercept
multiplied by the equivalent gold grade exceeds 10. Silver:gold
equivalence is established at 75:1. Gold equivalent grade is
calculated by adding the gold grade to the silver grade divided by
75. The denominator of 75 has been calculated from the following
algorithm:
/T/
Silver Price x Silver Recovery
------------------------------
Gold Price x Gold Recovery
/T/
Information in this report relating to ore and mineralisation was
compiled by Malcolm Castle, who consents to its inclusion and is a
Corporate Member of the Australasian Institute of Mining and
Metallurgy with a minimum of five (5) years in the field of
activity involved. Mr. Malcolm Castle is full time employee of
Tington Pty Ltd. a management company which provides technical and
financial services to Laverton Gold NL.
BY ORDER OF THE BOARD
B.P. Panos, Company Secretary
/T/
RAWAS GOLD PROJECT, INDONESIA
Significant Drill intercepts - October 1995
HOLE FROM TO INT Au Ag North East Ele Dip Az
------ ---- -- --- ---- --- ----- ---- --- --- ---
Berenai North
BT-696 18 25 7 12.44 46 8500 5159 471 -60 270
31 38 7 5.37 58
BT-746 17 19 2 7.07 31 8775 5280 510 -60 90
22 30 8 2.97 16
37 45 8 3.30 19
72 73 1 4.93 86
Aidit
BT-629 14 23 9 2.90 7 7740 5375 527 -60 360
BT-659 60 80 20 6.07 61 7612 5429 483 -60 315
BT-663 59 63 4 2.15 34 7646 5467 479 -60 315
80 87 7 3.08 20
108 113 5 1.72 35
BT-686 25 29 4 2.81 16 7735 5349 532 -60 270
101 104 3 5.13 4009
BT-716 80 81 1 81.40 N/A 7822 5355 528 -60 180
BT-722 68 70 2 23.35 48 7798 5350 529 -60 180
BT-725 30 33 3 4.25 2 7791 5300 522 -60 180
Rozali
BT-555 10 13 3 4.78 36 8150 5157 531 -60 265
BT-675 52 5 3 6.33 22 8425 5187 449 -60 90
BT-676 51 52 1 10.76 118 8450 5183 447 -60 90
BT-678 47 48 1 12.90 17 8477 5176 460 -60 270
BT-681 19 21 2 20.54 439 8300 5183 427 -60 270
BT-682 14 18 4 3.70 152 8275 5183 417 -60 270
BT-683 40 44 4 1.85 86 8274 5198 418 -50 270
BT-685 21 23 2 4.73 76 8225 5181 428 -60 270
BT-690 0 18 18 1.05 1 8125 5183 443 -60 270
BT-695 27 29 2 5.50 100 8125 5168 440 -60 270
BT-705 3 7 4 9.94 3 8550 5188 493 -60 270
BT-706 3 9 6 3.20 41 8650 5171 496 -60 270
Berenai West
BT-662 63 70 7 5.13 187 8200 5399 466 -60 270
Muara Curup North
BT-714 17 23 6 3.69 107 8959 5075 443 -60 380
BT-717 31 32 1 18.33 689 8068 5025 432 -80 360
BT-720 51 52 1 8.38 533 8068 5000 422 -80 360
99 102 3 3.74 13
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