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Finders Resources Ltd.
Summary
| Project: | Wetar | |
|---|---|---|
| Deposit: | Wetar | |
| Location: | Indonesia | |
| Commodities: | Copper | |
| Date: | 12/22/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 22-12-2017: Finders Resources Ltd. announces a Resource Estimation report for its Wetar deposit at the Wetar project. Annual update of mineral resources and ore reserves. Finders Resources Limited (“Finders” or “the Company”) is pleased to provide its ann | |
| Resources: | (Reserve, P+P): 9.3Mt @ 2.1% Cu for 196Kt Cu contained | |
| CP/QP: | [Resources]: Terry Burns (Banda Minerals Pty Ltd.) | |
| ABSTRACT: | Finders Resources Limited (“Finders” or “the Company”) is pleased to provide its annual Mineral Resource and Ore Reserve update for the Wetar Copper Project in which the Company holds a 74.1% economic interest. Measured, Indicated and Inferred Mineral Resource Estimate as at 1st December 2017 totals 9.6 million tonnes at 2.1% Cu for 206,000 tonnes of contained copper metal after depletion from copper cathode production of 32,000 tonnes • Proved and Probable Ore Reserve Estimate as at 1st December 2017 totals 9.3 million tonnes at 2.1% Cu for 196,000 tonnes of contained copper metal after depletion from copper cathode production of 32,000 tonnes • Ore Reserve increased by 8,000 tonnes of contained copper metal following positive reconciliation for the Kali Kuning open pit and 17,000 tonnes of contained copper metal due to Lerokis Ore Reserve increase previously announced on 23rd November 2017 Managing Director Barry Cahill commented: “In addition to the previously announced significant increase in the Lerokis Mineral Resource and Ore Reserve, this update also reflects the continuing positive reconciliation being encountered during mining of the Kali Kuning open pit. Mined copper metal at Kali Kuning has outperformed the Ore Reserve by 12% since our last update as at 30th June 2016. The net effect is that after production of 32,000 tonnes of copper metal, the Wetar Copper Project Ore Reserve has reduced by a very modest 6,000 tonnes of copper metal over the past 1.5 years.” | |
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