PROSPECTING company, Australian Resource Management (ARM), is set to kick start its prospecting operation in Kuma, South Guadalcanal.
The UK listed and Brisbane based company is gearing up to resume operation.
Local representative and consultant who will oversee the project, Desmond Sese said he is very keen to see the project gets off the ground.
Mr Sese added he was quite pleased to see such a modest investment valued at more than $1.3 million eventually trickle into the local economy, and Kuma, as a beneficiary for hosting such project.
“A good portion of the $1.3 million investment will cater for community assistances and a one- off goodwill payment, while the rest will go towards the actual operation,” Mr Sese explained.
He also pointed out that the operation will not be easy as Kuma’s terrain is tough and rough and in terms of geology, it’s a complicated tenement as well.
“But we will be banking on local knowledge and available information regarding the area to determine the mineralisation level,” MR Sese stated.
“Previous prospecting by ARM Pty (Solgold) Newmont, indicates some high copper occurrence in the upper slope of chaunativi area, while lower part of kuma holds some indication of gold copper occurrences, the operation now will aim to justify whether kuma is worth drilling or not,” Mr Sese said.
He added that based on the history of the Kuma tenement, he is confident the six weeks operation will yield results that could possibly lead to further drilling.
He further added that so far Kuma landowners are welcoming with open arms the company to start its operation.
“I’d like to acknowledge the overwhelming support shown by landowners over the past few weeks, their consent and approval has enable the operation to get off the ground,” Mr Sese stated.
In the Solgold website, commenting on today’s update, SolGold CEO and Managing Director, Alan Martin said: “Over the last 12 months SolGold has prioritised its project portfolio which has meant that we can focus the Company’s exploration efforts on the best opportunities to create value for shareholders.
Mr Martin stated “the Kuma copper‐gold project in the Solomon Islands contains a major porphyry copper‐gold target for SolGold”.
“The Kuma project is an exciting early‐stage porphyry target that has not yet been tested by drilling. A third phase of groundwork is about to commence to define drill targets under the lithocap”.
“The program we will be conducting is a very low‐cost, high‐value program which is aimed at adding value to the Kuma Project rapidly” Mr Martin concluded.
SolGold’s General Manager of Exploration, Dr Bruce Rohrlach added, “The exploration model at Kuma is a porphyry copper‐gold deposit associated with a leached silica‐clay lithocap.”
Dr Rohrlach stated “leached caps with depleted copper are a common feature of many porphyry systems.”
Dr Rohrlach further added that “the Kuma lithocap is extensive and coincident with widespread gold‐silver‐arsenic‐molybdenum anomalism at its northwest end and a complex magnetic signature.”
Dr Rohrlach added that “as such the alteration system at Kuma represents a compelling porphyry copper‐gold target. The lithocap covers an area of at least 2.5km2, similar to the Cascabel and Tujuh Bukit lithocaps”.