Southern Arc Minerals Inc. is a Canadian mineral exploration company focused on gold and copper-gold exploration. The Company’s key exploration property is its West Lombok project, with several gold-rich copper porphyry and epithermal gold vein prospects. A second exploration property, East Elang, is being advanced in partnership with Vale. Southern Arc is actively drilling at West Lombok with the objective of completing an NI 43-101 resource estimate for the property by mid-2013.
12/03/2013Rhylin Bailie, Vice President Investor Relations of Southern Arc Minerals (TSX-V:SA), tells Proactiveinvestors that, with $16mln in the bank, the company is at a real advantage over others in the peer group. The funding will enable it to carry on with the current drill plan as well as look for other exploration targets. Rhylin also says that, with the partnership that Southern Arc has with Vale at East Elang, all costs will be paid for at this asset by Vale and they are now just waiting for the permit before proceeding.
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Southern Arc Minerals Inc. is a well-financed Canadian mineral exploration company focused on gold and copper-gold exploration. Southern Arc is advancing two projects in Indonesia, one in partnership with Vale, the world’s second largest mining company, and is actively looking for new advanced-stage projects to broaden its portfolio. Southern Arc is listed on the TSX Venture Exchange under the symbol "SA" and on the OTCQX under the symbol "SOACF".
Southern Arc's key exploration property is its West Lombok project, with several gold-rich copper porphyry and epithermal gold vein prospects. The West Lombok property comprises a 13km long by 7km wide structural corridor of hydrothermal mineralization and alteration on Indonesia's Lombok Island. Previous exploration by Newmont Mining established the presence of epithermal and porphyry mineralization on a district scale with three large prospects: the Pelangan epithermal gold prospect, the Mencanggah epithermal/porphyry copper-gold district, and the Selodong intrusive copper-gold complex. Southern Arc has completed more than 40,000 metres of drilling to date on the property. Phase 2 drilling is underway with the objective of completing a National Instrument 43-101 compliant resource estimate for the property by mid-2013.
Southern Arc and Vale International S.A. are advancing the East Elang Project under an option and joint venture agreement whereby Vale can earn a 75% interest (Southern Arc retaining 25%) by funding all project expenditures through to completion of a bankable feasibility study. The East Elang property is located immediately adjacent to Newmont's Elang copper-gold deposit (25 Moz gold, 16 Blb copper). Airborne geophysics and lithographical studies suggest that structures controlling the Elang porphyry trend may extend onto Southern Arc’s East Elang property. While the project is certainly prospective based on its location, Southern Arc will not begin to explore at East Elang until the appropriate permits have been issued, which is expected to occur in 2013.
John Proust, C. Dir.
Chairman & Chief Executive Officer, Director
Michael Andrews, Ph. D., FAusIMM
President & Chief Operating Officer, Director
Andrew Rowe, B. Sc. (Geology), MAusIMM
Executive Vice President
Brian Richardson, CA, MBA
Chief Financial Officer
Rhylin Bailie, B.ES.
Vice President, Communications & Investor Relations
Celeste Curran, BA, LLB
Vice President, Corporate & Legal Affairs
Eileen Au, B.Sc.
Southern Arc Minerals Inc.
Box 1078, Suite 1500
885 West Georgia Street
Canada V6C 3E8
Ms. Rhylin Bailie, Vice President Communications & Investor Relations
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