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Nusantara Resources Ltd.
Summary
| Project: | Awak Mas | |
|---|---|---|
| Deposit: | Awak Mas | |
| Location: | Indonesia | |
| Commodities: | Gold-Silver-Copper | |
| Date: | 4/28/2020 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 28-4-2020: Nusantara Resources Ltd. announces a Resource Estimation report for its Awak Mas deposit at the Awak Mas project. Updated Mineral Resource Estimate for Project. Nusantara is pleased to report a material resource increase. The revised Awak Mas P | |
| Resources: | (Resources, I+I): 47.3Mt @ 1.34g/t Au (2.03Moz Au) | |
| CP/QP: | [Resources]: Adrian Shepherd (Cube Consulting Pty Ltd.) | |
| ABSTRACT: | Nusantara is pleased to report a material resource increase. The revised Awak Mas Project - Mineral Resource Estimate (MRE) shows a 18% increase in contained gold to 2.35 million ounces (Moz). Key factors contributing to the increase are the incorporation of a successful 2019 drilling program and a revised gold price of US$1,600/oz. This Resource is now being incorporated into a June Quarter 2020 revision of Reserves and DFS Economics for the Awak Mas Gold Project. This will incorporate new information as well as providing an understanding of gold price sensitivity. Reserves will be run at a US$1400/oz gold price (previously US$1,250/oz for 1.1Moz contained gold). Nusantara and Indonesian JV partner Indika are committed to exploration and the development of the Awak Mas Gold Project. In 2020, the Project is fully funded to progress Early Activities including engineering and land access in parallel with Project Finance (debt) activities. “The positive Resource update highlights the impressive leverage of the Awak Mas deposit to both exploration along trend and leverage to gold price” commented Nusantara’s CEO, Neil Whitaker. “We continue to see positive results come from the application of our evolving geology model, reaffirming the exceptional value added through exploration.” | |
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