KUALA LUMPUR: Back in August 2020, Borneo Oil Berhad (BornOil) had announced that, under JORC standard of the gold resources of Zone B (1st Zone) at its Bukit Ibam Gold Prospect in Pahang, the area was estimated to contain total resources of 622 kgs of Gold in 1.66 million metric tons of ore with an average grade of 0.42 g/t.
In a latest development yesterday (5 May 2022), the company said in an announcement to Bursa Malaysia that it has completed the interim exploration works on Zones D and H at Bukit Ibam Gold Prospect; and that the overall potential for this combined area is estimated to be 400,000 tons of ore containing approximately 200kgs of gold with an average grade of between 0.3 and 0.5 g/t Au.
What this means is that BornOil has potentially more than 822 kgs of gold when both these findings are combined.
In yesterday’s announcement, the company said that the announcement is based on an Interim Report that is not in accordance with the Australasian Code of Reporting of Exploration Results, Mineral Resources and Ore Reserves “JORC Standards”
It added that the company has recently embarked on a detailed sampling and drilling program on several other of its primary gold targets.
“This program has been carried out in Zone D and H, comprising of 15 diamond drill holes(1,390.5 metres), 127 blast drill holes (1,143 metres) and 77 Reverse Circulation (“RC”) drill holes (4,964 metres). A total of 1,962 samples from Zone H and 4,425 samples from Zone D were analysed,” it said.
“The overall potential for this combined area is estimated to be 400,000 tons of ore containing approximately 200kgs of gold with an average grade of between 0.3 and 0.5 g/t Au. However, these figures remain to be proven and confirmed by a systematic diamond drilling program and ground geophysical survey covering the 1.6 km trend. Diamond drilling will be used as the water table occurs at about -50m (50m below the surface) at Bukit Ibam.”
The Bukit Ibam Gold Prospect is located in the south-eastern state of Pahang of Peninsular Malaysia, about 40 km to the north of Muadzam Shah's city (“Prospecting Area”).
The Prospecting Area covers two mining licenses comprising 187 ha (462.08 acres) and 175.04 ha (432.53 acres). Zone D and H cover an area of 14.29 ha (35.59 acres)in the licensed mining area.
The gold mineralisation is mainly in the form of free gold believed to be hosted by a set of fractured and silicified North-South intrusive sub-volcanic felsitic sills and possibly by a quartz vein parallel to the intrusive; these formations are hosted in the East Malay Peninsula permo[1]triassic volcano-sediment unit.
The system is affected by an oblique fracturation separating and slightly shifting the formations and resulting in a typical tectonic block faulting well marked in the topography by creeks and hills aligned with the North-South main structure. The type of mineralisation visible at the Prospecting Area is very similar in many aspects to other deposits of Peninsular Malaysia, including Raub, Penjom Selinsing, Tersang etc, where the gold is mainly controlled by felsitic sills and quartz stockworks.
“The results of the drilling works indicate that Zones D and H include multiple significant sections with economic values of gold,” said yesterday’s announcement.
Source: Borneo Oil Berhad
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