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Finders Resources Ltd.
Summary
| Project: | Wetar | |
|---|---|---|
| Deposit: | Lerokis | |
| Location: | Indonesia | |
| Commodities: | Copper-Zinc-Gold-Silver-Lead | |
| Date: | 10/31/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Active Mining & Production | |
| Report details: | 31-10-2017: Finders Resources Ltd. announces an Exploration/Drilling Update report for its Lerokis deposit at the Wetar project. Drilling results incl. 37m @ 8.93% Cu, 0.97ppm Au, 45ppm Ag, 0.07% Zn, 0.11% Pb from 4m. Finders Resources Limited (“Finders” | |
| Resources: | (Reserve, P+P): 8.6Mt @ 2.3% Cu for 202Kt Cu contained at Wetar | |
| CP/QP: | [Overall Report]: Terry Burns (Banda Minerals Pty Ltd.) | |
| ABSTRACT: | Finders Resources Limited (“Finders” or “the Company”) 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 outstanding final results from the Lerokis pre-development drilling program have provided a much higher level of confidence in the interpretation of the massive sulphide mineralisation in advance of an update to the pre-mining Mineral Resource and Ore Reserve estimate for the Company’s second open pit mine at Wetar. The updated estimate is the first re-work of the deposit since 2009 and we have improved our confidence in an increase in the contained copper metal above that previously reported.” As previously reported in Finders’ ASX release of 3 October 2017, 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 Lerokis (Figure 1) to better define pre-development mineralised envelopes for mine design purposes, to obtain additional samples for metallurgical column leach testing, to “sterilise” areas for infrastructure locations and to provide additional support to final open pit wall design assumptions. | |
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