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Nusantara Resources Ltd.
Summary
| Project: | Awak Mas | |
|---|---|---|
| Deposit: | Awak Mas | |
| Location: | Indonesia | |
| Commodities: | Gold-Silver | |
| Date: | 2/27/2018 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 27-2-2018: Nusantara Resources Ltd. announces a Resource Estimation report for its Awak Mas deposit at the Awak Mas project. Updated Mineral Resource for Awak Mas. Asia‐Pacific gold development company Nusantara Resources Limited (‘Nusantara’, ASX: NUS) i | |
| Resources: | (Resource, I+I): 45Mt @ 1.38g/t Au for 2.0Moz contained at Awak Mas | |
| CP/QP: | [Resources]: Adrian Shepherd (Cube Consulting Pty Ltd.) | |
| ABSTRACT: | Asia‐Pacific gold development company Nusantara Resources Limited (‘Nusantara’, ASX: NUS) is pleased to provide the following Mineral Resource update for the Salu Bulo deposit after inclusion of 12 additional diamond drill holes from the Phase 1 drilling program at its 100%-owned Awak Mas Gold Project located in South Sulawesi, Indonesia. The Indicated and Inferred Mineral Resource at 0.5 g/t Au cut-off for the Salu Bulo deposit constrained by a US$1400/oz optimisation shell is now reported at 3.7 Mt at 1.53 g/t Au for 0.18 Moz (Table 1, Appendix 1). This represents a 65% increase in contained gold ounces compared to the May 2017 Mineral Resource estimate (MRE) and includes the previously unmodeled, shallow dipping mineralisation. A significant component of the updated Salu Bulo MRE is high grade, with 1.4 Mt at 2.57 g/t Au for 0.12 M0z reported above a cut-off grade of 1.5 g/t Au. Good potential remains to add further resource ounces through targeting extensions to the mineralisation both at depth and along strike. The total Indicated and Inferred Resource at 0.5 g/t Au cut-off for the Awak Mas Gold Project (inclusive of the Awak Mas, Salu Bulo and Tarra deposits), following the February 2018 Salu Bulo deposit MRE update, now stands at 45.0 Mt at 1.38 g/t Au for 2.00 Moz constrained within US$1,400/oz optimisation shells (Table 1, Appendix 1). Using a lower gold price of US$1,200/oz in constrained optimisation shells the total Indicated and Inferred Resource at 0.5 g/t Au is 40.4 Mt at 1.40 g/t Au for 1.82 Moz highlighting the robustness of the MRE relative to the current spot gold price | |
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