Southern Arc Minerals Inc. Commences Drilling at Sabalong Project
24.10.2011 | Marketwire
VANCOUVER, BRITISH COLUMBIA -- (Marketwire - Oct. 24, 2011) - Southern Arc Minerals Inc. (TSX VENTURE: SA) (“Southern Arc“) is pleased to announce that drilling is underway at its Sabalong Project on Sumbawa Island, Indonesia. The property is being advanced in partnership with a wholly-owned subsidiary of Vale S.A. (“Vale“) under an option and joint venture agreement. Southern Arc is managing the exploration program, and Vale is funding all project expenditures. Full details about the option and joint venture agreement are available on SEDAR at www.sedar.com and on Southern Arc's website at www.southernarcminerals.com.During 2011 Southern Arc completed a detailed ground magnetic survey covering a 15.5 square km area over the property to identify potential buried porphyry targets. Magnetic anomalies identified on the western and southern margins of the Lito lithocap were recently covered by a deep-penetrating induced polarisation (IP) survey, which covered an 8.2 square km area. Inversion modeling and 3D visualization of the magnetic and IP data has revealed a chargeable zone over a 1.3km by 1.5km area possibly related to buried sulphides. Southern Arc and Vale plan to drill this target with a series of deep holes to test for the presence of a mineralized porphyry system. The first three planned drill hole locations are shown in Figure 1; drilling of the first hole commenced on October 21 (to view Figure 1, visit the following link: http://media3.marketwire.com/docs/sa1024Figure1.pdf).
The 9,950 hectare Sabalong Project is located in the Miocene volcanic belt of the Sunda-Banda Arc, 30km north-northeast of Newmont's Elang copper-gold porphyry deposit, a “consolidated 25 Moz gold and 16 Blb copper target“ (Newmont Mining Corporation News Release, February 24, 2011) and 75km northeast of Newmont's Batu Hijau copper-gold mine.
The technical information in this press release has been reviewed by Andrew Rowe, B. App. Sc. Geology, MAusIMM, Chief Geologist of Southern Arc and a Qualified Person as defined by National Instrument 43-101.
On behalf of the Board of Directors
John Proust
Chairman and CEO
About Southern Arc
Southern Arc Minerals Inc. is a Canadian mineral exploration company with an aggressive exploration, acquisition and growth strategy. The Company's portfolio includes four exploration projects with epithermal gold and gold-copper porphyry prospects on the Lombok and Sumbawa islands in Indonesia, three of which are being advanced in partnership with major mining companies Vale and Newcrest. The Company's key exploration property is its West Lombok project, with several gold-rich copper porphyry and epithermal gold vein prospects. Southern Arc is listed on the TSX Venture Exchange under the symbol SA. More information is available at www.southernarcminerals.com or by emailing info@southernarcminerals.com.
Forward-looking Statements
This news release contains forward-looking statements relating to expected or anticipated future events and operations, timing of projects and anticipated results that are forward-looking in nature and, as a result, are subject to certain risks and uncertainties, such as general economic, market and business conditions, the regulatory process and actions, technical issues, new legislation, competitive and general economic factors and conditions, the uncertainties resulting from potential delays or changes in plans, the occurrence of unexpected events, and the company's capability to execute and implement future plans. Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. There is no representation by the company that actual results achieved during the forecast period will be the same in whole or in part as that forecast.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact Information
Southern Arc Minerals Inc.
Rhylin Bailie
Vice President, Communications & Investor Relations
604-676-5241
604-676-5246 (FAX)
info@southernarcminerals.com
www.southernarcminerals.com