NTB Land Utilization Regulation – "The Perda” – Enacted Into Law
Vancouver, B.C.: Southern Arc Minerals Inc. (“Southern Arc” or the “Company”) (TSX Venture: SA) is very pleased to report the enactment of a new provincial land utilization regulation (Perda No. 3/2010) for West Nusa Tenggara (NTB). Approved in sequence by the National Spatial Planning Body (NSPB), the Minister of Public Works, the provincial legislature, the Minister of Home Affairs, and enacted into law by the provincial Governor, this new regulation has cleared the path for the Company to be issued a Mining Business License (IUP) for its West Lombok property. Endorsed by the Provincial Governor on March 18 and effective March 20, 2010, the Perda was proclaimed in a signing ceremony held in Mataram, the provincial capital, on July 1, 2010.
By the enactment of this Perda, all prior restrictions to mining activities on the West Lombok property have been removed. With the new land utilization regulation in effect, the West Lombok regency is free to respond to the Company’s application for a Mining Business License (IUP) related to the West Lombok Property. Since mid-December 2009, Southern Arc has been awarded four IUPs.
In November 2008, the Company relinquished 48,878 Ha from a total of 67,343 Ha on Lombok Island. The relinquished areas are in Central and East Lombok. This relinquishment does not negatively impact on the prospects for economic large-scale mining on key prospects held by the Company.
The West Lombok Property comprises a 13 km long, northwest trending structural corridor of mineralization and alteration, along which lie the Pelangan Epithermal Gold, Mencanggah Epithermal/Porphyry District, and Selodong Porphyry prospects. Covering 18,465 hectares (45,628 acres), these prospects have been targeted for porphyry intrusions and related mineral systems, including porphyry copper-gold, high sulfidation gold-copper and mesothermal to epithermal precious-base metal deposits.
Selodong
An exceptional gold-rich copper prospect, the Selodong Intrusive Complex (SIC) hosts 15 porphyry copper-gold targets with associated peripheral epithermal gold-silver mineralization. Newmont drill-tested six of the targets with shallow drill holes; nine more targets were subsequently identified by Southern Arc. The Company has tested seven of the fifteen targets with a 30-hole Phase 1 deeper drilling program in 2007-08. Independent 3-D geophysical modeling has confirmed the potential for significant depth and size of all 15 targets. Further information is available on the Company website. See the link, below.
Pelangan
Located at the northwest end of the West Lombok property, the Pelangan Gold Prospect includes at least five large and complex quartz vein systems: the Kayu Putih, Raja, Ratu, Tanjung-Jati and Lala veins. Phase 2 drilling at Pelangan was suspended while waiting for the new spatial plan to be approved.
Mencanggah
The Mencanggah Epithermal/Porphyry District lies in the centre of the 13-km long structural corridor. Surface prospecting and mapping have defined the extent of epithermal quartz veining over a broad area (approximately 5 km x 5 km), along with the presence of potential copper-gold porphyry style mineralization at Lapangan Geres. Five major vein targets, including Tebu Serai, Bising, Telekur, Talat Talat and Mahoni-Gunayang have been sampled and mapped as part of a data-acquisition program leading to the scout drilling program planned for 2010
Together, the Pelangan and Mencanggah prospects host a combined proven strike length of over 20 kilometers of mineralized epithermal breccias, with individual bodies ranging in thickness from 2 – 30 metres, strike length of 1,000 metres, and a vertical extent of greater than 300 metres.
2010 Field Work Plans
Field work at Pelangan is anticipated to include approximately 3,000 metres of Phase 2 diamond drilling. At Mencanggah, plans include more than 2500 metres of Phase 1 drilling. At Selodong, the Company plans to conduct IP/EM surveys and spectral analysis studies. The 2010 field work program is scheduled to begin upon the issuance of the West Lombok IUP.
Efforts to advance these three key prospects are of the highest priority for Southern Arc. The Company has been waiting more than three years for the Perda revision to take effect. The approval of the new land utilization regulation for NTB, therefore, represents the achievement of a significant milestone for the Company. We look forward to reporting more on related developments in the months ahead.
For a detailed description of the West Lombok property, see the link at:
http://www.southernarcminerals.com/projects/lombok/west_lombok/
For a map of the Company’s West Lombok prospects, see the link at: http://www.southernarcminerals.com/projects/lombok/west_lombok/ok
For Selodong drilling results, see the link at:
http://www.southernarcminerals.com/_resources/Selodong-Drill_Hole_Stats.pdf
For the Corporate Presentation, see the link at:
http://www.southernarcminerals.com/investors/presentations/
On behalf of the Board of
Southern Arc Minerals Inc.
“John Proust”
President and CEO
For Further Information Please Contact:
John G. Proust, President and CEO
Southern Arc Minerals Inc.
Suite 1500, Box 1078, 885 West Georgia Street, Vancouver, BC V6C 3E8 Canada
Telephone: (604) 676-5241 Fax: (604) 676-5246
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Forward Looking Statements: This news release contains forward looking statements relating to expected or anticipated future events and operations, timing of projects and anticipated results that are forward looking in nature and, as a result, are subject to certain risks and uncertainties, such as general economic, market and business conditions, the regulatory process and actions, technical issues, new legislation, competitive and general economic factors and conditions, the uncertainties resulting from potential delays or changes in plans, the occurrence of unexpected events, and the company’s capability to execute and implement future plans. Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. There is no representation by the company that actual results achieved during the forecast period will be the same in whole or in part as that forecast.
The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved of the contents of this press release. Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
By the enactment of this Perda, all prior restrictions to mining activities on the West Lombok property have been removed. With the new land utilization regulation in effect, the West Lombok regency is free to respond to the Company’s application for a Mining Business License (IUP) related to the West Lombok Property. Since mid-December 2009, Southern Arc has been awarded four IUPs.
In November 2008, the Company relinquished 48,878 Ha from a total of 67,343 Ha on Lombok Island. The relinquished areas are in Central and East Lombok. This relinquishment does not negatively impact on the prospects for economic large-scale mining on key prospects held by the Company.
The West Lombok Property comprises a 13 km long, northwest trending structural corridor of mineralization and alteration, along which lie the Pelangan Epithermal Gold, Mencanggah Epithermal/Porphyry District, and Selodong Porphyry prospects. Covering 18,465 hectares (45,628 acres), these prospects have been targeted for porphyry intrusions and related mineral systems, including porphyry copper-gold, high sulfidation gold-copper and mesothermal to epithermal precious-base metal deposits.
Selodong
An exceptional gold-rich copper prospect, the Selodong Intrusive Complex (SIC) hosts 15 porphyry copper-gold targets with associated peripheral epithermal gold-silver mineralization. Newmont drill-tested six of the targets with shallow drill holes; nine more targets were subsequently identified by Southern Arc. The Company has tested seven of the fifteen targets with a 30-hole Phase 1 deeper drilling program in 2007-08. Independent 3-D geophysical modeling has confirmed the potential for significant depth and size of all 15 targets. Further information is available on the Company website. See the link, below.
Pelangan
Located at the northwest end of the West Lombok property, the Pelangan Gold Prospect includes at least five large and complex quartz vein systems: the Kayu Putih, Raja, Ratu, Tanjung-Jati and Lala veins. Phase 2 drilling at Pelangan was suspended while waiting for the new spatial plan to be approved.
Mencanggah
The Mencanggah Epithermal/Porphyry District lies in the centre of the 13-km long structural corridor. Surface prospecting and mapping have defined the extent of epithermal quartz veining over a broad area (approximately 5 km x 5 km), along with the presence of potential copper-gold porphyry style mineralization at Lapangan Geres. Five major vein targets, including Tebu Serai, Bising, Telekur, Talat Talat and Mahoni-Gunayang have been sampled and mapped as part of a data-acquisition program leading to the scout drilling program planned for 2010
Together, the Pelangan and Mencanggah prospects host a combined proven strike length of over 20 kilometers of mineralized epithermal breccias, with individual bodies ranging in thickness from 2 – 30 metres, strike length of 1,000 metres, and a vertical extent of greater than 300 metres.
2010 Field Work Plans
Field work at Pelangan is anticipated to include approximately 3,000 metres of Phase 2 diamond drilling. At Mencanggah, plans include more than 2500 metres of Phase 1 drilling. At Selodong, the Company plans to conduct IP/EM surveys and spectral analysis studies. The 2010 field work program is scheduled to begin upon the issuance of the West Lombok IUP.
Efforts to advance these three key prospects are of the highest priority for Southern Arc. The Company has been waiting more than three years for the Perda revision to take effect. The approval of the new land utilization regulation for NTB, therefore, represents the achievement of a significant milestone for the Company. We look forward to reporting more on related developments in the months ahead.
For a detailed description of the West Lombok property, see the link at:
http://www.southernarcminerals.com/projects/lombok/west_lombok/
For a map of the Company’s West Lombok prospects, see the link at: http://www.southernarcminerals.com/projects/lombok/west_lombok/ok
For Selodong drilling results, see the link at:
http://www.southernarcminerals.com/_resources/Selodong-Drill_Hole_Stats.pdf
For the Corporate Presentation, see the link at:
http://www.southernarcminerals.com/investors/presentations/
On behalf of the Board of
Southern Arc Minerals Inc.
“John Proust”
President and CEO
For Further Information Please Contact:
John G. Proust, President and CEO
Southern Arc Minerals Inc.
Suite 1500, Box 1078, 885 West Georgia Street, Vancouver, BC V6C 3E8 Canada
Telephone: (604) 676-5241 Fax: (604) 676-5246
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Forward Looking Statements: This news release contains forward looking statements relating to expected or anticipated future events and operations, timing of projects and anticipated results that are forward looking in nature and, as a result, are subject to certain risks and uncertainties, such as general economic, market and business conditions, the regulatory process and actions, technical issues, new legislation, competitive and general economic factors and conditions, the uncertainties resulting from potential delays or changes in plans, the occurrence of unexpected events, and the company’s capability to execute and implement future plans. Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. There is no representation by the company that actual results achieved during the forecast period will be the same in whole or in part as that forecast.
The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved of the contents of this press release. Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
