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Nusantara Resources Ltd.
Summary
| Project: | Awak Mas | |
|---|---|---|
| Deposit: | Awak Mas | |
| Location: | Indonesia | |
| Commodities: | Gold-Silver | |
| Date: | 4/18/2018 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 18-4-2018: Nusantara Resources Ltd. announces a Resource Estimation report for its Awak Mas deposit at the Awak Mas project. Initial ore reserve estimate for Awak Mas project. Asia‐Pacific gold development company Nusantara Resources Limited (‘Nusantara’, | |
| Resources: | (Reserve, Prob.): 23.7Mt @ 1.35g/t Au for 1.03Moz | |
| CP/QP: | [Overall Report]: David Varcoe (AMC Consultants Pty Ltd.) | |
| ABSTRACT: | Asia‐Pacific gold development company Nusantara Resources Limited (‘Nusantara’, ASX: NUS), is pleased to announce a maiden Ore Reserve of 1.0 million ounces contained gold for its 100%-owned Awak Mas Gold Project located in South Sulawesi, Indonesia. The Awak Mas Gold Project Probable Reserve at 0.5 g/t Au cut-off using a US$1250/oz gold price is 23.7 Mt at 1.35 g/t Au for 1,030,000 contained ounces. The Ore Reserve estimate (Table 1) is based on the Mineral Resource estimate reported for the Awak Mas and Salu Bulo deposits in January 20181 and February 20182 respectively (Figure 1), and work completed in the first stage of the Definitive Feasibility Study (DFS). “Our maiden Ore Reserve represents a significant milestone for the Company and now places Nusantara among an elite group of ASX-listed gold development companies”, commented Nusantara’s Managing Director and CEO, Mike Spreadborough. “This Ore Reserve combined with the exploration potential of the project demonstrates the value of a proposed long-life, low cost, stand-alone gold project at Awak Mas. | |
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