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Nusantara Resources Ltd.
Summary
| Project: | Awak Mas | |
|---|---|---|
| Deposit: | Awak Mas | |
| Location: | Indonesia | |
| Commodities: | Gold-Silver | |
| Date: | 5/8/2018 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 8-5-2018: Nusantara Resources Ltd. announces a Resource Estimation report for its Awak Mas deposit at the Awak Mas project. Updated mineral resource estimate at the project. Asia‐Pacific gold development company Nusantara Resources Limited (‘Nusantara’, A | |
| Resources: | (Resource, Total): 45.3Mt @ 1.4g/t Au for 2Moz Au contained | |
| CP/QP: | [Resources]: Adrian Shepard (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 Awak Mas Gold Project located in South Sulawesi, Indonesia following inclusion of the final 31 resource definition and metallurgical diamond holes from the Phase 1 drilling program. The Indicated and Inferred Resource estimate at 0.5 g/t Au cut‐off for the Awak Mas Gold Project, consisting of the Awak Mas, Salu Bulo and Tarra deposits, is now reported at 45.3 Mt at 1.4 g/t Au for 2.0 Moz (Table 1, Figure 1, Appendix 1). Importantly, 95% of the contained ounces within the Awak Mas deposit and 90% of the contained ounces in the Salu Bulo deposit now report to the Indicated Resource category. This represents a 0.2 Moz increase in contained gold in the Indicated Resource category compared to the previous Mineral Resource estimate. The increase in resource confidence with the reclassification from Inferred to Indicated is expected to positively influence the Ore Reserve, open pit mine life, and project economics as the DFS progresses. The DFS remains on track for delivery in July 2018 with a further material upgrade in the Ore Reserve anticipated following incorporation of this Mineral Resource update. The focus of the DFS is now on value enhancement with attention to waste dump design, pit optimisation, materials handling efficiency and mine scheduling. | |
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