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Finders Resources Ltd.
Summary
| Project: | Wetar | |
|---|---|---|
| Deposit: | Wetar | |
| Location: | Indonesia | |
| Commodities: | Copper-Zinc-Gold-Silver-Lead | |
| Date: | 3/6/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Active Mining & Production | |
| Report details: | 6-3-2017: Finders Resources Ltd. announces an Exploration/Drilling Update report for its Wetar deposit at the Wetar project. JV - Drilling results incl. 34m @ 5.28% Cu, 1.09g/t Au, 75g/t Ag, 3.59% Zn, 0.84% Pb from 10m. 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 activities at the Lerokis Deposit within the Wetar Copper Project. Managing Director Barry Cahill commented: “Our focus at Wetar has now turned to pre-development activities associated with the second open pit mine at Lerokis following the successful completion of the first phase of development at Kali Kuning. The additional assay data acquired from the geotechnical and metallurgical cores from Lerokis, as outlined in this announcement, suggests that there is potential to expand the resource inventory. Any future incremental increase to the existing Ore Reserve from this work has the ability to translate directly to the bottom line for all shareholders.” As part of a detailed geological and mining review of the Zone 5 and Zone 1S domains for the planned Lerokis mine development, three diamond holes previously drilled for geotechnical purposes were sampled and submitted for analysis. An 8 hole program of large diameter diamond drilling was undertaken during the first half of 2016 to provide additional samples of mineralisation for confirmatory metallurgical testing on leach characteristics and terminal recoveries in advance of final design and construction planning activities. The assay data from the geotechnical and metallurgical holes confirmed the Zone 1S and Zone 5 interpretations and provide additional data that can be incorporated into the planned Mineral Resource estimate update following completion of the upcoming 2,000m RC drilling program. This drilling program has been designed to define the margins of the interpreted mineralisation outlines and ensure that the areas earmarked for mine infrastructure have been effectively sterilised. | |
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