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From "The Northern Miner" Vol. 83 No. 42 December 15-21 1997
ANTARES BOOSTS RESOURCES
Operator Antares Mining and Exploration (ANZ-T) has revised resource estimates for two zones on its Ojolali gold property in Sumatra, Indonesia.
Resource at the South Tambang zone now stand at 3.89 million tonnes grading 0.57 gram gold per tonne and 121 gram silver, whereas resource at the Jambi zone are estimated at 2.91 million tonnes grading 1.62 grams gold and 10 grams silver. Previous calculations for it's South Tambang and Jambi Zones pegged resources at 1 million tonnes of 1.57 grams gold-equivalent and 1.9 million tonnes of 3.87 grams gold equivalent, respectively.
At the South Tambang zone, about 700 metres of a strike-length of 2 km were tested with holes totalling 2,700 metres. The deposit consists of both oxidized and unoxidized material, with gold mineralization hosted in quartz veins ranging from 6.4 to 38 metres in thickness.
Resources at Jambi are contained in an area of oxidized volcanic rock measuring 400 metres in length by 200 metres in width. A total of 1,900 metres has been drilled across the strike length to date, though 700 metres remain untested.
Both deposits have potential as open-pit operations, and are being assessed with metallurgical testing.
The 22 sq. km Ojolali property and surrounding 297 sq. km land package is owned 76.5% by Antares. The remainder, which is held on a carried basis, is divided between Coleville Res. (CLL-A), with 13.5%, and private Indonesian partners, with 10%.
Elsewhere, Antares has discovered a new zone of polymetallic mineralization at its Toodoggone property in North-Central British Columbia.
Several narrow zones of mineralization were revealed in hole 8. The best interval, when assayed using metallic-sieve analysis, returned 103.3 grams gold over 4 metres. Standard fire assay methods on the same interval returned 61.1 grams gold, 92.4 grams silver, 1.34% copper, 0.46% lead and 11.7% zinc.
The zone, dubbed Creek, occurs in altered andesite flow breccias of Jurassic age. Sulphide minerals occur as pyrite, sphalerite, chalcopyrite and galena.
Antares can earn 55% in the 235 sq. km Toodoggone property from AGC Americas Gold (AGA-V) by spending $5 million on exploration. To date, the company has spent $3 million.
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