Besra hits gold mineralisation in over 120m of core across two targets

Mon 30 May 22, 3:01pm (AEDT)
Gold 1
Source: Unsplash

Key Points

  • Besra has today announced the discovery of gold mineralisation in two separate core samples over 120m together
  • While the mid-grade mineralisation is at depth, the project’s location in Borneo provides attractive exploration economics
  • Company awaits receipt of assay results for a further ten holes on-site

Besra Gold (ASX:BEZ) has today announced recent assay results for its Bau Gold Project targeting the Jugan Prospect in Indonesia with over 120m of core across two drill holes reflecting gold mineralisation. 

Drillhole JUDDH-89 returned 64m @ 1.9g/t, and JUDDH-90 returned 67m @ 1.76g/t. 

While the core thickness is impressive, it should be noted both cores came from relatively deep; JUDDH-89 from 145m to 209m, and JUDDH-90 from 64m to 131m. 

The average grade intercepts, Besra highlights, are "substantially higher than historical global grades at Jugan." 

Eight out of eighteen holes drilled at Jugan have now been assayed and returned from the laboratory with the company to move ahead revising resource estimates on-site at the conclusion of the campaign. 

(Source: Besra Gold) An exploration diagram detailing activities at Jugan
(Source: Besra Gold) An exploration diagram detailing activities at Jugan

60m thickness and more 

Company management noted today that as it intersected mineralisation at different depths separate to the 60m intervals, over 80m of core was pulled from both targets. Keep in mind that the sixty metre sections were by far the most substantial.

"[This] confirms lateral mineralisation continuity and superior grades of Jugan Prospect mineralisation which will be extremely positive for any future mining scenario" CEO Dr. Ray Shaw commented. 

"These results are extremely exciting." 

Historical drilling at Jugan has previously provided JORC Resource of 870,000 oz of gold at 1.5g/t (measured and indicated,) with an inferred resource of 90,000oz at 1.6g/t. 

Across its 18 hole 2021/2022 drilling program, a total of 1,800m have been retrieved with the majority still awaiting final results. 

The location of drillholes was designed to prove additional sub-surface control including the southwestern flank of Jugan Fill and a perceived plunging northeastern limb. 

Same geology in Borneo commercially successful nearby 

Both JUDDH-89 and 90 respectively were drilled at incline angles to better test the dimensions of mineralisation on-site with previous Jugan drilling being vertical. 

The Bau project is located some 40km from Kuching, the capital of Indonesian state Sarawak on the island of Borneo. 

Besra controls "directly and indirectly" a 97.8% interest in the Project.

Besra is targeting the same metalliferous belt "extending through the island of Borneo" that is associated with successful operations such as Kelian, having produced 7M oz, and Mt Muro at 3M oz. 

The shape of Besra's 3M chart versus the materials index
The shape of Besra's 3M chart versus the materials index


Written By

Jonathon Davidson

Finance Writer

Jonathon is a journalism graduate and avid market watcher with exposure to governance, NGO and mining environments. He was most recently hired as an oil and gas specialist for a trade publication.

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