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Finders Resources Ltd.
Summary
| Project: | Wetar | |
|---|---|---|
| Deposit: | Lerokis | |
| Location: | Indonesia | |
| Commodities: | Copper-Zinc-Gold-Silver-Lead | |
| Date: | 11/23/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 23-11-2017: Finders Resources Ltd. announces a Resource Estimation report for its Lerokis deposit at the Wetar project. Clarified Mineral resource and Ore reserve report. Finders Resources Limited (“Finders” or “the Company”) is pleased to report signific | |
| Resources: | (Reserve, P+P): 2.71Mt @ 2.81% Cu for 76.2Kt contained at Lerokis | |
| CP/QP: | [Resources]: Terry Burns (Banda Minerals Pty Ltd.) | |
| ABSTRACT: | Finders Resources Limited (“Finders” or “the Company”) is pleased to report significant increases in the Mineral Resource and the Ore Reserve at the Lerokis deposit, which is the second mine planned within the Company’s Wetar Copper Project. The update incorporates the results from a recent and highly successful pre-development drilling campaign. Managing Director Barry Cahill commented: “This Mineral Resource and Ore Reserve update for the Company’s second open pit mine at Lerokis confirms our long held belief that there was good opportunity to significantly increase the contained copper metal. The magnitude of these increases and the favourable results from the metallurgical testwork program are pleasing and demonstrates potential for further upside to the Wetar Copper Project’s mine life and future earnings.” During the September 2017 quarter, a 60 hole program of reverse circulation (RC) and diamond drilling (for a total of 2,991m) was completed into the more complex zones of the Zone 5 and Zone 1S areas at the Lerokis deposit (Figures 1 and 2) to better define pre-development mineralised envelopes for mine design purposes, “sterilise” areas for infrastructure locations, provide additional support to final open pit wall design assumptions and provide samples for further metallurgical testwork. The significant assay results from these holes are summarised in Finders’ June 2017 and September 2017 Quarterly Activities Reports and ASX releases of 3 October 2017 and 31 October 2017. This announcement reports the updated Mineral Resource and Ore Reserve estimates resulting from the recently completed pre-development drilling program at Lerokis. | |
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