|By Marketwired .||
|November 20, 2012 08:30 AM EST||
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 11/20/12 -- Southern Arc Minerals (TSX VENTURE:SA)(OTCQX:SOACF) ("Southern Arc" or "the Company") is pleased to announce that the Company has received the Pinjam Pakai forestry permit for its West Lombok property, allowing the Company to resume full-scale exploration activities on the property.
Southern Arc will host an investor webcast Tuesday, November 20 at 1:30pm PST (4:30pm EST) Toll-free 1-800-319-4610 or webcast at http://www.southernarcminerals.com/
"I am pleased to announce that we are in a position to fully re-engage exploration activities on our flagship West Lombok property," said John Proust, Chairman and Chief Executive Officer of Southern Arc. "This permit enables Southern Arc to conduct both surface and drilling exploration for the standard renewable two-year period. We are committed to advancing this property and will immediately mobilize rigs, staff and resources.
"As challenging as I know the wait for the permit has been for our shareholders," continued Mr. Proust, "I would stress that this conservative approach has placed us in a much stronger position to both protect and promote the Company's interest in West Lombok."
Southern Arc has continued to work closely with SRK Consulting (Canada) Inc. ("SRK"), an internationally renowned, independent consulting service to major, intermediate and junior mining and exploration companies. SRK has worked with the Company to prepare a detailed drill program for epithermal gold targets within the Pelangan and Mencanggah prospects. The next phase of exploration will focus on infill drilling in areas where the Company has identified high-grade shoots and wide mineralized intercepts (Figure 1). The Company's objective for this drilling program is to develop a National Instrument 43-101 compliant resource estimate for three targets within the 13 km by 7 km corridor of mineralization in the West Lombok property. These targets - Bising, Tebu Serai and Raja - comprise the three most developed epithermal targets within the property. Several other epithermal targets have returned encouraging surface results and the Company expects to explore these more thoroughly with future drill programs.
"With issuance of the West Lombok Pinjam Pakai forestry permit we can resume exploration and pursue evaluation of the gold potential of this property," said Dr. Mike Andrews, President and Chief Operating Officer of Southern Arc. "We appreciate the patience of shareholders and are committed to advancing the project to a resource status for the benefit of both Southern Arc shareholders and our community partners. From the commencement of drilling, we anticipate that this program will take approximately five months to complete, allowing Southern Arc to publish an NI 43-101 compliant resource estimate for the property by mid-2013."
The Bising target in the Mencanggah prospect is the Company's first priority for drilling. The Company is mobilizing six drill rigs to the Bising target and field personnel are already preparing access roads and drill pads so that the Company can resume drilling within one month. Southern Arc plans to drill up to 18 holes at Bising in two phases (Phase A and Phase B, Figure 2) to infill and expand the zone of mineralization adjacent to the wide intercepts identified with MCG028 (51.3 m @ 1.5 g/t gold), MCG030 (39.0 m @ 1.8 g/t gold) and MCG032 (37.8 m @ 1.0 g/t gold). This two-phase program will enable the Company to review assay results from Phase A exploration and refocus Phase B exploration as appropriate.
Surface channel sampling along the extensive strike length at Bising has returned high-grade intervals as well as very wide intervals of lower-grade gold mineralization. The Company completed eight holes at Bising in 2011 for a total of 2,285.7 metres. Drill holes were located at 100 metre drill spacing to test the main Bising epithermal structural body, its extensions, and intersections with several crossing structures, identifying a 500-metre-long zone of mineralization. The extensive width of the main Bising epithermal body is inferred to result from the intersection of geological structures: a major west-northwest trending structure and several north-northwest trending structures, the latter of which form the dominant gold mineralized trend in the district.
At the Tibu Serai target in the Mencanggah prospect, Southern Arc plans to test down-dip from elevated rock-chip gold geochemistry in multiple veins that exhibit low silver-to-gold ratios (Figure 3). Low silver-to-gold ratios are a proven vector to higher gold grades in epithermal mineralization throughout the property. Seven Phase A drill holes are planned, with eight Phase B follow-up holes to test the strike extensions if results are encouraging.
At Raja in the Pelangan prospect, the drill program will test for continuity of high-grade mineralization around the previous drill intercepts of PLD007 (17.4 m @ 19.4 g/t gold and 28.3 g/t silver) and PLD008 (11.55 m @ 9.8 g/t gold and 31.1 g/t silver) while examining the potential for extending and upgrading high-grade shoots identified with previous drilling (Figure 4). Southern Arc has planned eight Phase A holes, with five Phase B follow-up holes dependent on results.
Mohammed Al-Shahwani is Chief Executive Officer of Qatar Mining Company, which is wholly owned by the State of Qatar. Qatar Mining Company is the sole shareholder of Tadeen Cyprus Holdings which, in turn, holds a 9.8% interest in Southern Arc. Mr. Al-Shahwani joined Southern Arc's Board of Directors in September 2011. Asked for his reaction to news of the West Lombok forestry permit, Mr. Al-Shahwani replied, "I supported the decision to take a patient and prudent approach over the past ten months and congratulate the executive team for this successful outcome, an achievement due in part to Southern Arc's commitment to building strong relationships at all levels in a culturally nuanced environment. I look forward to the outcome of the West Lombok NI 43-101 compliant resource estimate with great interest and trust that the work programs planned for the area will add value to the exploration assets."
To view the figures accompanying this press release, click on the following link: http://media3.marketwire.com/docs/sa1119m.pdf
On behalf of the Board of Southern Arc Minerals Inc.
John Proust, Chairman & Chief Executive Officer
About Southern Arc
Southern Arc Minerals Inc. is a Canadian mineral exploration company focused on gold and copper-gold exploration. The Company's portfolio includes four exploration projects with epithermal gold and copper-gold porphyry prospects on the Lombok and Sumbawa islands in Indonesia, one of which is being advanced in partnership with Vale S.A. The Company's key exploration property is its West Lombok project, with several gold-rich copper porphyry and epithermal gold vein prospects. Southern Arc is listed on the TSX Venture Exchange under the symbol SA and on the OTCQX International under the symbol SOACF. More information is available at www.southernarcminerals.com or by emailing [email protected].
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 technical information in this document has been reviewed by Southern Arc's Executive Vice President, Andrew Rowe, B. App. Sc. Geology, MAusIMM. Mr. Rowe has over 18 years of international mineral exploration experience throughout Southeast and Central Asia and Australia. During this time he has held such positions as Principal Geologist - Feasibility Studies, Senior Geologist and Consulting Geologist. The technical information in this document has also been reviewed by Southern Arc's President & Chief Operating Officer, Dr. Mike Andrews, PhD, FAusIMM, who has sufficient experience relevant to the style of mineralization under consideration and qualifies as a Qualified Person as defined by National Instrument 43-101.
The drill program and sampling protocol is managed by Southern Arc under the supervision of Andrew Rowe. The diamond drill holes are drilled at PQ, HQ and NQ sizes depending on hole depth and core recovery to date has averaged 97.5%. Half core is cut by rock saw and is generally sampled according to geological contacts ranging between 0.2 to 2.5 metres in length. Three quality control samples (one blank and two standards) are inserted into each batch of 40 samples. The half core samples are securely transported from the project site to the Intertek Testing Services ("ITS") sample preparation laboratory in Sumbawa Besar via private truck hired by Southern Arc. Sample pulps are then sent to the ITS Jakarta laboratory by ITS. Gold is analyzed by fire assay with AAS finish and a four-acid digestion with ICP-MS finish is used to analyze a full suite of elements including silver and base metals. ITS is one of the world's largest product and commodity testing, inspection and certification organizations. The Jakarta laboratory is ISO 17025 accredited and employs a Laboratory Information Management System for sample tracking, quality control and reporting.
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.
According to Forrester Research, every business will become either a digital predator or digital prey by 2020. To avoid demise, organizations must rapidly create new sources of value in their end-to-end customer experiences. True digital predators also must break down information and process silos and extend digital transformation initiatives to empower employees with the digital resources needed to win, serve, and retain customers.
Dec. 10, 2016 04:15 AM EST Reads: 1,384
Amazon has gradually rolled out parts of its IoT offerings in the last year, but these are just the tip of the iceberg. In addition to optimizing their back-end AWS offerings, Amazon is laying the ground work to be a major force in IoT – especially in the connected home and office. Amazon is extending its reach by building on its dominant Cloud IoT platform, its Dash Button strategy, recently announced Replenishment Services, the Echo/Alexa voice recognition control platform, the 6-7 strategic...
Dec. 10, 2016 04:15 AM EST Reads: 538
We're entering the post-smartphone era, where wearable gadgets from watches and fitness bands to glasses and health aids will power the next technological revolution. With mass adoption of wearable devices comes a new data ecosystem that must be protected. Wearables open new pathways that facilitate the tracking, sharing and storing of consumers’ personal health, location and daily activity data. Consumers have some idea of the data these devices capture, but most don’t realize how revealing and...
Dec. 10, 2016 04:00 AM EST Reads: 5,314
IoT solutions exploit operational data generated by Internet-connected smart “things” for the purpose of gaining operational insight and producing “better outcomes” (for example, create new business models, eliminate unscheduled maintenance, etc.). The explosive proliferation of IoT solutions will result in an exponential growth in the volume of IoT data, precipitating significant Information Governance issues: who owns the IoT data, what are the rights/duties of IoT solutions adopters towards t...
Dec. 10, 2016 03:15 AM EST Reads: 466
Whether your IoT service is connecting cars, homes, appliances, wearable, cameras or other devices, one question hangs in the balance – how do you actually make money from this service? The ability to turn your IoT service into profit requires the ability to create a monetization strategy that is flexible, scalable and working for you in real-time. It must be a transparent, smoothly implemented strategy that all stakeholders – from customers to the board – will be able to understand and comprehe...
Dec. 10, 2016 02:15 AM EST Reads: 792
Complete Internet of Things (IoT) embedded device security is not just about the device but involves the entire product’s identity, data and control integrity, and services traversing the cloud. A device can no longer be looked at as an island; it is a part of a system. In fact, given the cross-domain interactions enabled by IoT it could be a part of many systems. Also, depending on where the device is deployed, for example, in the office building versus a factory floor or oil field, security ha...
Dec. 10, 2016 02:00 AM EST Reads: 606
An IoT product’s log files speak volumes about what’s happening with your products in the field, pinpointing current and potential issues, and enabling you to predict failures and save millions of dollars in inventory. But until recently, no one knew how to listen. In his session at @ThingsExpo, Dan Gettens, Chief Research Officer at OnProcess, discussed recent research by Massachusetts Institute of Technology and OnProcess Technology, where MIT created a new, breakthrough analytics model for s...
Dec. 10, 2016 01:30 AM EST Reads: 782
In his general session at 19th Cloud Expo, Manish Dixit, VP of Product and Engineering at Dice, discussed how Dice leverages data insights and tools to help both tech professionals and recruiters better understand how skills relate to each other and which skills are in high demand using interactive visualizations and salary indicator tools to maximize earning potential. Manish Dixit is VP of Product and Engineering at Dice. As the leader of the Product, Engineering and Data Sciences team at D...
Dec. 10, 2016 01:00 AM EST Reads: 1,265
"We're a cybersecurity firm that specializes in engineering security solutions both at the software and hardware level. Security cannot be an after-the-fact afterthought, which is what it's become," stated Richard Blech, Chief Executive Officer at Secure Channels, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 9, 2016 11:30 PM EST Reads: 1,158
In this strange new world where more and more power is drawn from business technology, companies are effectively straddling two paths on the road to innovation and transformation into digital enterprises. The first path is the heritage trail – with “legacy” technology forming the background. Here, extant technologies are transformed by core IT teams to provide more API-driven approaches. Legacy systems can restrict companies that are transitioning into digital enterprises. To truly become a lead...
Dec. 9, 2016 10:45 PM EST Reads: 564
Video experiences should be unique and exciting! But that doesn’t mean you need to patch all the pieces yourself. Users demand rich and engaging experiences and new ways to connect with you. But creating robust video applications at scale can be complicated, time-consuming and expensive. In his session at @ThingsExpo, Zohar Babin, Vice President of Platform, Ecosystem and Community at Kaltura, discussed how VPaaS enables you to move fast, creating scalable video experiences that reach your aud...
Dec. 9, 2016 10:00 PM EST Reads: 337
"Once customers get a year into their IoT deployments, they start to realize that they may have been shortsighted in the ways they built out their deployment and the key thing I see a lot of people looking at is - how can I take equipment data, pull it back in an IoT solution and show it in a dashboard," stated Dave McCarthy, Director of Products at Bsquare Corporation, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 9, 2016 09:30 PM EST Reads: 1,288
What happens when the different parts of a vehicle become smarter than the vehicle itself? As we move toward the era of smart everything, hundreds of entities in a vehicle that communicate with each other, the vehicle and external systems create a need for identity orchestration so that all entities work as a conglomerate. Much like an orchestra without a conductor, without the ability to secure, control, and connect the link between a vehicle’s head unit, devices, and systems and to manage the ...
Dec. 9, 2016 08:00 PM EST Reads: 1,041
IoT is rapidly changing the way enterprises are using data to improve business decision-making. In order to derive business value, organizations must unlock insights from the data gathered and then act on these. In their session at @ThingsExpo, Eric Hoffman, Vice President at EastBanc Technologies, and Peter Shashkin, Head of Development Department at EastBanc Technologies, discussed how one organization leveraged IoT, cloud technology and data analysis to improve customer experiences and effici...
Dec. 9, 2016 06:45 PM EST Reads: 5,151
Everyone knows that truly innovative companies learn as they go along, pushing boundaries in response to market changes and demands. What's more of a mystery is how to balance innovation on a fresh platform built from scratch with the legacy tech stack, product suite and customers that continue to serve as the business' foundation. In his General Session at 19th Cloud Expo, Michael Chambliss, Head of Engineering at ReadyTalk, discussed why and how ReadyTalk diverted from healthy revenue and mor...
Dec. 9, 2016 06:15 PM EST Reads: 1,772
The 20th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held June 6-8, 2017, at the Javits Center in New York City, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Containers, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit your speaking proposal ...
Dec. 9, 2016 05:30 PM EST Reads: 2,380
The Internet of Things (IoT) promises to simplify and streamline our lives by automating routine tasks that distract us from our goals. This promise is based on the ubiquitous deployment of smart, connected devices that link everything from industrial control systems to automobiles to refrigerators. Unfortunately, comparatively few of the devices currently deployed have been developed with an eye toward security, and as the DDoS attacks of late October 2016 have demonstrated, this oversight can ...
Dec. 9, 2016 05:15 PM EST Reads: 1,482
You have great SaaS business app ideas. You want to turn your idea quickly into a functional and engaging proof of concept. You need to be able to modify it to meet customers' needs, and you need to deliver a complete and secure SaaS application. How could you achieve all the above and yet avoid unforeseen IT requirements that add unnecessary cost and complexity? You also want your app to be responsive in any device at any time. In his session at 19th Cloud Expo, Mark Allen, General Manager of...
Dec. 9, 2016 05:15 PM EST Reads: 1,903
Bert Loomis was a visionary. This general session will highlight how Bert Loomis and people like him inspire us to build great things with small inventions. In their general session at 19th Cloud Expo, Harold Hannon, Architect at IBM Bluemix, and Michael O'Neill, Strategic Business Development at Nvidia, discussed the accelerating pace of AI development and how IBM Cloud and NVIDIA are partnering to bring AI capabilities to "every day," on-demand. They also reviewed two "free infrastructure" pr...
Dec. 9, 2016 04:45 PM EST Reads: 1,326
As data explodes in quantity, importance and from new sources, the need for managing and protecting data residing across physical, virtual, and cloud environments grow with it. Managing data includes protecting it, indexing and classifying it for true, long-term management, compliance and E-Discovery. Commvault can ensure this with a single pane of glass solution – whether in a private cloud, a Service Provider delivered public cloud or a hybrid cloud environment – across the heterogeneous enter...
Dec. 9, 2016 04:45 PM EST Reads: 1,874