Bau Gold Field - Malaysia
Bau has vast exploration potential, excellent engineering infrastructure, sealed road access only 40km from deep water port, with a western-style mineral tenure system and 0% gold royalty. Bau is considered to be a world class project.
Geologists examine core samples
Onsite Assay TestingHistorical Mining
Bau has a mining history dating back to the the 1840's and historical production of 3M oz. The last producing mine closed in 1996 after open-pit production of about 1.2M oz. gold.
Controlling Ownership
As of October 2010, Olympus holds 75.05% ownership in the property with an agreement to increase ownership to 93.55% by 2012.
Advanced Exploration Technologies
Historically, Bau has been mined only to shallow depths. However, sophisticated reprocessing of aerial geophysical data has indicated substantially greater mineralization potential lies at depths of >300m below surface. USD$6M has therefore been budgeted to complete 20,000 m of diamond drilling to explore this potential during 2011. An on-site fire assay laboratory has also been established (independently operated by SGS Ltd) to provide a fast, efficient assay service with full QAQC.
Geology Highlights
- Current 2.45M oz (NI43-101) gold resource). (See Resource Estimates)
- Multiple intrusive-related mineralization styles. These include deposits of porphyry-gold, skarn, mesothermal vein, epithermal vein, vein breccia and carbonate-replacement style mineralization.
- Strong structural control, with many regional-scale fault zones hosting mineralization
- Airborne DIGHEM and magnetic data sets providing anomalies to depths of up to 700m.
- Mineralization models being established to facilitate identification of large systems at depth.
- Encouraging drilling results to date are consistent with the objective of achieving production by late 2014.
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