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Nusantara Resources Ltd.
Summary
| Project: | Awak Mas | |
|---|---|---|
| Deposit: | Awak Mas | |
| Location: | Indonesia | |
| Commodities: | Gold-Silver | |
| Date: | 3/8/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 8-3-2018: Nusantara Resources Ltd. announces an Exploration/Drilling Update report for its Awak Mas deposit at the Awak Mas project. Drilling results incl. 45m @ 1.3g/t Au, 0.5g/t Ag from 257.0m. Asia‐Pacific gold development company Nusantara Resources L | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Colin McMillan (Internal) | |
| ABSTRACT: | Asia‐Pacific gold development company Nusantara Resources Limited (‘Nusantara’, ASX: NUS) is pleased to provide the following update on the recently completed Awak Mas Highwall exploration drilling program at its 100%-owned Awak Mas Gold Project located in South Sulawesi, Indonesia. The exploration program was designed to confirm the geological model and therefore potential for extensions to the Mineral Resources at the 1.72 Moz Awak Mas1 and 0.18 Moz Salu Bulo2 deposits along the intervening ‘Mine Corridor’ (refer to Nusantara’s ASX announcement of 20 December 2017 for further background information). The initial phase of the exploration program focused on the Awak Mas Highwall eastern extension, with six diamond drill holes for 2,726.5 m completed in early March 2018 to test for extensions of the Awak Mas deposit mineralisation to the east and across the recognised Awak Mas Highwall fault. The success of this drill program clearly indicates the potential to further extend mineralisation within the untested 1.5 km Mine Corridor towards the Salu Bulo deposit (Figures 1 and 2). “The extremely positive results returned from this program have validated Nusantara’s geological model by proving that the gold mineralisation is not restricted to the immediate current footprint of the Awak Mas deposit.” commented Nusantara’s Managing Director and CEO, Mike Spreadborough. “This provides confidence that further mineralisation in the immediate eastern Highwall area can be expected from the remaining three drill holes, all of which have strong visual indications, and supports our belief of significant exploration upside along the untested Mine Corridor between the Awak Mas and Salu Bulo deposits.” | |
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