Southern Arc Minerals Inc. (TSX-V: SA) engages in the exploration of gold and copper-gold resource properties in Indonesia. 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.
The company is independently advancing its West Lombok property with an aggressive exploration program. The company's other three projects, Taliwang, Sabalong and East Elang, are located on Sumbawa Island and are being advanced under joint venture agreements with Newcrest (Taliwang) and Vale (Sabalong and East Elang) wherein exploration at the projects is 100% funded by the joint-venture partners to completion of a bankable feasibility study.
The West Lombok property covers a 13 by 7 kilometer, northwest trending structural corridor of mineralization and alteration. Southern Arc holds an 85% interest in the 10,088 hectare (24,928 acre) property, with 10% held by the local Indonesian government and 5% held by an Indonesian partner. An aggressive drilling program is planned for the West Lombok property in 2011 and early 2012, including at least 30,000 meters of drilling. The Pelangan Epithermal Gold prospect is located on the northwest end of the West Lombok property. The Mencanggah Epithermal/Porphyry District lies roughly at the center of the structural corridor. In addition, a gold-rich copper prospect, the Selodong Intrusive Complex, hosts 14 porphyry copper-gold targets with associated peripheral epithermal gold-silver mineralization, seven of which were tested in Phase 1 drilling in 2008.
Southern Arc has drilled 4,000 meters of Phase 1 drilling at Pelangan and 7,000 meters of Phase 2 exploration. Southern Arc expects to drill an additional approximately 13,000 meters at Pelangan and at least 10,000 meters at Mencanggah over the next 6 to 9 months with the objective of completing National Instrument 43-101 compliant resource estimates for both the Pelangan and Mencanggah prospects in the first half of 2012.
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