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Finders Resources Ltd.
Summary
| Project: | Wetar | |
|---|---|---|
| Deposit: | Lerokis | |
| Location: | Indonesia | |
| Commodities: | Copper-Zinc-Gold-Silver-Lead | |
| Date: | 10/3/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Active Mining & Production | |
| Report details: | 3-10-2017: Finders Resources Ltd. announces an Exploration/Drilling Update report for its Lerokis deposit at the Wetar project. Drilling results incl. 22m @ 13.33% Cu, 1.21g/t Au, 74.5g/t Ag, 1.52% Zn, 0.66% Pb from 9m. Finders Resources Limited (ASX:FND) | |
| Resources: | (Reserve, P+P): 8.6Mt @ 2.3% Cu for 202Kt Cu contained at Wetar | |
| CP/QP: | [Overall Report]: Terry Burns (Internal) | |
| ABSTRACT: | Finders Resources Limited (ASX:FND) is pleased to provide the following update on pre- development drilling activities at Lerokis within the Wetar Copper Project. Managing Director Barry Cahill commented: “These impressive results were from the Lerokis pre-development drilling program required to finalise the pre-mining Mineral Resource and Ore Reserve estimate for the Company’s second open pit mine at Wetar. The high grade assay results indicate good potential for increasing the contained copper metal above that previously reported for the deposit. Mine development and infrastructure planning for Lerokis is now at an advanced stage.” A 59 hole program of reverse circulation (RC) and diamond drilling (for a total of 2,931m) was recently completed into the more complex zones of the Zone 5 and Zone 1S areas at Lerokis (Figure 1) to better define pre-development mineralised envelopes for mine design purposes, obtain additional samples for metallurgical column leach testing, “sterilise” areas for infrastructure locations and to provide additional support to final open pit wall design assumptions. An RC drilling program consisting of 48 holes (for 2,412m) was designed to achieve a number of objectives. The program has successfully achieved all of those objectives, with 26 of these holes further evaluating known areas of complex sulphide mineralisation in Zones 5 and 1S (Figure 2 and 3), 8 holes tested previously identified shallow sulphide mineralisation in Zone 1C and a further 14 sterilisation holes were drilled into previously untested areas for mine infrastructure. | |
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