PT Selatan Arc Minerals (SAM) is a copper and gold mining company in Indonesia that has an exploration Mining Business License (IUP) located in Ropang District, Sumbawa Regency, West Nusa Tenggara Province. PT SAM has several very promising prospects in the concession area. The location of the concession is adjacent to the Elang discovery, which is a world class porphyry copper and gold deposit (16Bl Cu; 25 Moz Au) in Indonesia.
PT SAM obtained IUP from the Government of Indonesia with a concession area of 9,670 Ha and forestry permit for the approval of moratorium exception from the authority in Indonesia to carry out exploration activities.
PT SAM’s shareholders are East Indonesia Mining Pte Ltd 99.91% and West Indonesia Mining Holdings Inc. 0.09%. PT SAM is a Foreign Investment (PMA) company licensed by the Indonesian Investment Coordinating Board.
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PT SAM’s exploration Mining Business License (IUP) abounds to the west Block IV of PT. Amman Mineral Nusa Tenggara’s (“AMNT”) Contract of Work (CoW) whilst to the east it’s bounded by the Production IUP of PT Sumbawa Jutaraya (Pamapersada Nusantara Group). The area was previously explored by PT. Newmont Nusa Tenggara (“NNT”, a subsidiary of Newmont Mining Corporation) during 1986-1999 under the same CoW as AMNT.
The western property boundary lies approximately 3.5 km east from AMNT’s Elang porphyry copper-gold discovery which is the subject of an on-going internal full Feasibility Study. The Elang porphyry gold-copper discovery (NNT published resources of 23.0 Moz ounces of gold and 18 billion pounds of copper) is located within a 7 km NNE trending mineralized structural corridor, 60 km due east of AMNT’s Batu Hijau porphyry deposit. The geology of the area consists of mid Tertiary andesitic to dacitc volcanics and volcaniclastics intruded by a complex of polyphased felsic to immediate intrusives which generated multiple mineralized porphyry centres (Elang, Gergang, Kuning and Sepekat) along a NNE trending structural corridor, with a later stage widespread epithermal overprint. Rock geochemistry of surface and drill hole samples demonstrates a NE-SW elongate copper zone of approximately >0.3% more than 1.5 km long by 0.8 km wide (Maryono, 2005). Supergene copper enrichment in the form of chalcocite blankets is reported from shallow drill holes to a maximum thickness of 91.8m (average 40 metres grading 0.69% Cu).
Remote sensing studies together with modelling of airborne magnetic data indicate that the controlling NNE trending mineralized structural corridor (present on the AMNT property) extends on to SAM’s property. Limited surface evaluation work and aerial sorties by the Company support this finding. Modelling of NNT geophysical noted that the Elang discovery sits at the intersection of obvious NNW and NNE magnetic lineaments. Similar linear directions extend through the SAM property. Circular magnetic features with subdued magnetic responses derived from secondary magnetite alteration as at Elang were noted in two locations within SAM’s property.
Previous exploration by Newmont on the property identified a series of epithermal gold-silver-bearing quartz veins within a large argillic alteration system. Such alteration systems are often surface expressions (“lithocaps”) of upper or distal portions of mineralized porphyry Cu-Au systems. One anomaly identified by Newmont, the Air Panas Anomaly reported a series of low-sulfidation epithermal veins hosted in a bedded sequence of predominantly polymictic pebble and boulder conglomerates, thin sandstone and siltstone units with minor andesitic lavas and airfall pyroclastics. Initial rock chip sampling of quartz-sulfide veins returned assay values of 0.1-3.6 g/t Au and 6-310 g/t Ag, whereas later channel sampling produced erratic values including 1.0 m @ 7.0 g/t Au.