Volume 9 Edition 3 2012 - The ASIA Miner

MalaysiaDrilling expands Bau gold resourceINFILL and step-out drilling at the Bau Centralsection of Olympus Pacific Minerals’ Bau GoldProject in East Malaysia continues to upgradethe resource category and expand the pr o-spective open-pit resource. Mining feasibility isbecoming increasingly certain with definitivemetallurgical studies due for substantive completionin May and feasibility studies scheduledfor completion by the end of the year.The drilling on the Jugan deposit has demonstratedhigher than expected gold gradeswithin the core of the deposit and good continuityof mineralization. Resour ce categorieshave been significantly upgraded, and ongoingexploration of open-ended mineralization extensionsis expected to further expand the depositbeyond the current resource figures.Best results are: 41 metr es @ 1.79grams/tonne gold, including 2 metres @ 5.24grams/tonne and 5 metr es @ 5.24grams/tonne; 34 metres @ 3.01 grams/tonne;62 metres @ 2.02 grams/tonne, including 15metres @ 3.65 grams/tonne; 52.7 metr es @4.64 grams/tonne, including 21 metres @ 6.8grams/tonne and 4 metr es @ 11.97 grams/tonne; 39.5 metres @ 1.91 grams/tonne, including18.5 metres @ 3.39 grams/tonne; and29.3 metres @ 2.94 grams/tonne, including 3metres @ 10.05 grams/tonne.Jugan is a near-surface gold deposit at thenorthern end of the Bau Central gold trend. Itcomprises disseminated, sediment-hosted(Carlin-style) mineralization, hosted within athick shale/sandstone sedimentary sequence.The presence of a deep NE-SW tr endingmineralized (feeder) zone, parallel to the Baugold trend, has now been confirmed on multipledrill section lines. This zone steeply dipsNW and remains open along strike in both directionsand beyond 200m vertical depth.The drill program will continue to probe strikeand dip projections of this zone.A new NI 43-101/JORC r esource estimatefor the Bau pr oject contains 17.058million measured and indicated tonnes @1.67 grams/tonne for 913,500 containedounces of gold and 50.062 million inferr edtonnes @ 1.31 grams/tonne for mor e than2.108 million ounces.Continuing geological and geophysicalstudies reveal significant additional potentialin Jugan deposit extensions, as well aselsewhere within the Bau Central GoldTrend. The Bau mining feasibility study isinitially focused on the Jugan Hill deposit,the first of several Bau Central depositsslated for development.Olympus Pacific’s chief executive of ficerJohn Seton says, “Drilling at Bau Central ofthe Bau Gold Trend continues to return highlyencouraging results and mining feasibility isbecoming increasingly certain. The recent resourceestimate announcement at Bau Centralreflects growing confidence in Olympus’ability to sequentially develop other depositswithin the Bau Gold Trend. This enhances ourbelief that Bau has the potential to ultimatelybe ranked as one of South East Asia’s importantproducing goldfields.”Olympus has been aggressively exploringthe 17km-long Bau Central mineralizationtrend since first acquiring the pr operty in2009. The Bau gold trend contains 34 knowngold prospects, which are at various stagesof exploration advancement.56 | ASIA Miner | May/June 2012