For thousands of other reports visit RSC's Mineral Intellingence Map
Nusantara Resources Ltd.
Summary
| Project: | Awak Mas | |
|---|---|---|
| Deposit: | Awak Mas | |
| Location: | Indonesia | |
| Commodities: | Gold | |
| Date: | 6/15/2020 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 15-6-2020: Nusantara Resources Ltd. announces a Resource Estimation report for its Awak Mas deposit at the Awak Mas project. Updated Ore Reserve Estimate for Project. The Nusantara Board is pleased to announce a significant increase in Awak Mas Gold Proje | |
| Resources: | (Reserves, P+P): 35.6Mt @ 1.33g/t Au (1.53Moz Au) | |
| CP/QP: | [Reserve] David Varcoe (AMC Consultants Pty Ltd.) | |
| ABSTRACT: | The Nusantara Board is pleased to announce a significant increase in Awak Mas Gold Project (Awak Mas) Ore Reserves following targeted exploration success, updated Mineral Resources estimation, updated open-pit mine planning, and a sustained increase in the gold price. The Awak Mas JORC compliant Ore Reserve Estimate updated to 35.6 million tonnes at 1.33 g/t gold for 1.53 million ounces (100% in the Probable category) compares with the September 2018 estimate of 26.9 million tonnes at 1.32g/t gold for 1.14 million ounces. This is an 0.39 million ounce (34%) increase. The Ore Reserve Estimate uses a cut-off grade of 0.5g/t and a gold price of US$1,400 per ounce (circa US$300/oz lower than current spot price). Ore Reserves are based on information derived from the updated April 2020 Mineral Resource Estimate (MRE), October 2018 Definitive Feasibility Study (DFS), updated 2019 metallurgical test work showing improved estimated gold recovery and the improved gold price to determine the revised mine plan and current estimate. The technical work supporting the Ore Reserve Estimate is complete demonstrating a sound technical project with positive economics. An Addendum to the DFS is being compiled and a summary will be released shortly. | |
Full Report
opaxe is a smart software platform that reconfigures and redistributes information and produces business insights to help mining professionals and investors make better decisions. We utilise technology and machine learning for data collection and human intelligence for the value-added services.
Full Report