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Friday, 15th December 2006 (3291 views)

Asia Gold, a Canadian mineral exploration and development company, have discovered a new zone of mineralisation on Bacan Island in Indonesia.

The Kaputusan gold prospect has seen extensive rock sample trenches on a 178 metre section of mineralisation which contains grades of 0.29 grams of gold per tonne. Also present was a 28 metre interval with grades of 0.84 grams of gold per tonne.

Now Asia Gold will push forward with a 3,000 diamond drilling programme to test three zones. This will commence in January 2007.

This news follows Asia Gold's September announcement that it had completed an initial trenching programme in the north and south zones of the project, where 2,958 metres in 25 hand dug trenches were completed.

Asia Gold usually focuses on gold exploration in Mongolia although the company also has mines in Bulgaria.

Kaputusan is a joint venture with PT Harita Mutli Karya Mineral who was granted an exploration license in January 2005.

It is 15 km from the ocean and has new logging roads to be used for access.

 

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