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Nusantara Resources Ltd.
Summary
| Project: | Awak Mas | |
|---|---|---|
| Deposit: | Awak Mas | |
| Location: | Indonesia | |
| Commodities: | Gold-Silver | |
| Date: | 10/17/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 17-10-2017: Nusantara Resources Ltd. announces an Exploration/Drilling Update report for its Awak Mas deposit at the Awak Mas project. Drilling results incl. 35.4m @ 1.7g/t Au, 0.7g/t Ag from 35.6m. Indonesian gold development company Nusantara Resources | |
| Resources: | (not mentioned in the report) | |
| CP/QP: | [Overall Report]: Colin McMillan (Internal) | |
| ABSTRACT: | Indonesian gold development company Nusantara Resources Limited (‘Nusantara’, ASX: NUS) is pleased to announce assay results from the first two holes of the Phase 1 resource drilling program at its 100%-owned Awak Mas Gold Project located in South Sulawesi, Indonesia. The Phase 1 program comprises 67 diamond drill holes (for approximately 8,230 m) designed to target areas of unclassified gold mineralisation and to upgrade Inferred Resource mineralisation across the Awak Mas, Salu Bulo and Tarra deposits. The drilling program has progressed with 16 holes completed to date within the Awak Mas deposit. Currently two drill rigs are assigned to the Phase 1 program with an expected third rig to commence in early November. Assay results from the first two drill holes have successfully validated the Mineral Resource model, expanded the area of known mineralisation, and demonstrated potential for deeper mineralisation. Further details of intersections for RTD011 and LMD004 are provided in the Appendix to this announcement. The deeper intersection from 365m in LMD004 demonstrates potential for the gold mineralisation to extend below the current US$1,400/oz resource shell and will be the focus of later exploration drilling. Results from Phase 1 drilling will be incorporated into a re-estimation of the Mineral Resource in advance of the Ore Reserve calculation by mid-2018. | |
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