International Dunlap - Aceh and Flores Properties program update
VANCOUVER, B.C.--(BUSINESS WIRE)--June 17, 1997--International Dunlap (VSE:IDZ.) Dr. Peter J. Guest reports:
International Dunlap Minerals Corp. (``Dunlap'') is pleased to announce an update on its highly prospective ACEH and FLORES ISLAND properties in Indonesia.
The Aceh Property consisting of 144,884 hectares is located in N.W. Sumatra and is under joint venture with and operated by a subsidiary of Barrick Gold Corp.
(``Barrick''). Dunlap holds a 15 percent carried interest to production in the Aceh sixth generation Contract of Work (``COW''), with an option to earn an
additional 18 percent interest.
Similarly, the Flores Island Property, which comprises a sixth generation COW and covers 975,113 hectares, is under joint venture with Barrick. Barrick is the
operator and Dunlap holds a 10 percent carried interest to production.
THE ACEH PROPERTY
Exploration by our joint venture partners continues to produce encouraging results. Barrick has decided to defer the drilling of the Anak Perak, Aloe Rek and Aloe
Eumpeuk target areas to allow it to complete follow-up of all anomalous areas from the 1996 first pass reconnaissance program.
This will allow Barrick to decide on the areas of higher priority to be retained after May 1998 as it is an Indonesian Government requirement to relinquish 25
percent of the COW after the first year. Anak Perak
Work to date completed by joint venture partner Barrick has delineated a zone of quartz veining within hydrothermally altered andesitic volcanics at least 1800
metres long and between 20 and 300 metres (``m'') wide. This zone is defined by a soil anomaly ranging from 0.02 grams per tonne (``g/t'') to 3.41 g/t gold (``Au'').
Thirteen hand dug trenches have been completed.
The results of trenches one to eight have been reported previously. Trenches nine, 10 and 11 cut epithermal quartz vein stockwork with individual zones up to 9.3
metres wide. Gold grades were below 0.5 g/t. Trenches 12 and 13 gave encouraging results. All trench results on the Aceh Property have been calculated using
weighted averages and a 0.5g/t gold cut off.
AP 12 6.3m of quartz vein breccia and 1.7m of quartz vein
stockwork with up to 0.51 g/t Au over 1m.
AP 13 9m wide quartz vein breccia open to the west with up
to 7.64 g/t gold over 2m and 0.9 g/t Au over 1m.
Trenching and detailed soil sampling has to date covered half the vein zone exposed. Further soil sampling and detailed geological mapping is required in all
directions to determine the overall dimensions of the surface expression of the vein system prior to drilling. Aloe Rek
Geological mapping, rock and channel sampling has defined a 1.4 km long zone of massive and sheeted quartz veining (the Victory Vein) ranging from 20 to 60m
wide, within hydrothermally altered andesitic volcanics.
These veins exhibit well defined bladed quartz replacing calcite and colloform quartz-adularia banding. These features typically occur in the boiling zone of the
epithermal system and enhance the gold potential of the project.
A total of 17 trenches have been dug to date. The highlights of trenches one to 12 have been reported previously. Encouraging results in trenches 13 to 17 include:
AR 13 2m at 2.68 g/t Au
AR 16 1m at 1.30 g/t Au
1m at 1.01 g/t Au
1m at 4.06 g/t Au
1m at 1.72 g/t Au
AR 17 8m at 3.61 g/t Au
The vein system is open to the north along strike and both east and west of the gridded and mapped area. Approximately 60 percent of the known strike has been
explored by trenching and grid based soil sampling.
In the southern 40 percent of the vein system, gridding has been extended 200m east to cover further areas of hydrothermal quartz vein breccia discovered parallel
to the outcropping vein system, thereby increasing the size potential of the system.
Aloe Eumpeuk
The Aloe Empeuk target lies approximately one kilometre north of Aloe Rek. Gridding, soil sampling and trenching has defined a 300m long quartz vein system
varying from 20 to 100m wide. Geological mapping and evaluation of the results indicate that the vein system extends under swampy ground and may be off-faulted
from the Aloe Rek vein system.
A total of five trenches have been hand dug. Two of these produced encouraging results.
AE 1 6m of 4.70 g/t Au
AE 2 10m of 4.72 g/t Au
Trenches three to five did not reach bed rock.
Regional Targets
At least 14 other regional target areas have been identified and are being followed-up. These include the Aloe Vera area where skarn mineralisation has been
identified. At the Dolok area 2-3 km south-east of Aloe Rek, an area of argillic altered andesite with andesite porphyry dykes hosts epithermal quartz veins.
Geological mapping and geochemical sampling is underway to determine surface dimensions and geochemical signature. To date vein quartz outcrop assaying up to
1.0 g/t Au has been located, while float boulders of quartz have returned highest values of 11.8 g/t Au and 10.27 g/t Au. The source of these is still being
determined.
THE FLORES PROPERTY
Evaluation of the ``First Pass'' reconnaissance geochemical sampling program is continuing. To date anomalous geochemistry from both Barrick's sampling and
previous exploration has been compiled and interpolated and lithostructural mapping of major structural features from Landsat TM Imagery has been completed.
Target areas have been identified and are currently being ranked for follow-up based on geochemistry, geology and their relationship to lithostructural features.
Initial observations indicate a strong north-west to north north-west control on potentially mineralized structural features. These include over forty (40) caldera
structures at various stages of erosion and around fifty (50) other geomorphic features which may relate to subvolcanic stocks and deep seated intrusive bodies.
Along with these are large numbers of fractures.
All of these structural elements are being evaluated with respect to anomalous geochemistry patterns in drainages found associated with them.
Preliminary conclusions are that potential exists for Lihir-type epithermal targets related to caldera structures, gold rich porphyry systems in the deeper eroded areas
and a range of epithermal to mesothermal stockwork and vein related targets. In addition, hot spring submarine exhalative polymetallic and replacement gold
deposits are valid exploration targets for this property.
Dunlap holds varying interests in approximately 1.3 million hectares located throughout Indonesia. While Barrick advances work on the Aceh and Flores properties,
Dunlap (as the operator) will be commencing surface exploration work on the recently acquired KP209 in which it holds a 93 percent interest.
On behalf of the Board, ``Peter J. Guest'' Peter J. Guest, (D.Eng.), president and chief executive officer
The Vancouver Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this news release.
Contact:
International Dunlap Minerals Corp.
Rose Moon, 604/608-1633
24 hour recorded shareholder update 604/608-1633 ext. 241 |
