The Indonesian gold projects are located on the islands of Sulawesi and Halmahera. They are in an advanced exploration stage.
In Sulawesi, these are the projects (Palopo, Tanoyan and Anggrek):
Palopo - drilling carried out, including:
- 18 meters at 13.9 grams gold per tonne
- 36 meters 5.4 grams per tonne gold
- 10.7 meters to 13.4 grams per tonne gold
- exploration potential of one million ounces and more
Anggrek - drilling carried out, including:
- 10.5 meters of 4.4 grams of gold per tonne
- a few rocks up to 50 grams per tonne gold
On the island of Halmahera, it is the projects Roko and Kapa Kapa:
Roko - drilling carried out, including:
- 8 meters 1.6 grams per tonne gold
- rocks up to 45 grams per tonne gold
Kapa Kapa - three test holes by Newcrest carried out including:
- 10.2 meters of 1.40 grams per tonne gold
- 12.9 meters of 1.30 grams of gold per tonne
The original post had the Palopo project allocated to the wrong island and I have been told that not all projects have had drilling completed, some were only trenching; however, the raw numbers I believe to be accurate, as the other corrections are most likely attributable to translation issues. The Tanoyan project definitely has prior drilling though, as it is this project that the recently announced drill program is designed to expand the inferred resources on. The 43-101 has already been submitted to the exchange for review / approval.
Sincerely,
Leigh McBain