Antam updates Q1 gold, nickel exploration activities

The following is an excerpt from IDX-listed mining firm PT Aneka Tambang (Antam) on gold, nickel, bauxite and coal projects taken from the quarterly report ended March 31, 2010.

EXPLORATION*

In 1Q10, Antam continued its exploration on nickel, gold and bauxite in Indonesia. Total preliminary costs reported by Geomin Unit for exploration on above commodities reached Rp19.5 billion.

Nickel
Antam conducted nickel exploration activities at Buli in Halmahera, Mandiodo and Lasolo in Southeast Sulawesi and Gag Island in West Papua.

Antam conducted nickel exploration activities at Buli including Sangaji area with 50 m and 25 m drilling distance and also 100 m drilling distance at Tanjung Buli area. As well, Antam conducted measurement of topography, grid, georadar track and sampling activities.

Nickel exploration activities at Mandiodo and Lasolo focused on improving resources classification. The activities included 50 m drilling distance, sampling, mapping, track and drilling pit measurement.

Activities at Gag Island included 25 m drilling distance, modeling, core sampling and also track and drilling pit measurement.

Total cost for nickel exploration amounted to Rp6.6 billion.

Gold
Antam conducted gold exploration activities at Muara Manderas in Jambi, Pongkor, Cibaliung and Papadayan in West lava, Wawonii and Koloni in Southeast Sulawesi and Mao in West Sulawesi.

Antam conducted exploration activities at Muara Manderas including drilling activities, Detailed Geological Mapping (DGM), opening, track measurements, opening and drilling spot measurement, collected rock samples, core samples, Fl samples, petro/ mineragraphy samples and XRD samples.

Exploration activities at Pongkor focused on core drilling activities, track measurement, IP, magnetic and CSAMT geophysics, collected rock samples, core samples, Fi samples, petrography samples, mineragraphy samples and XRD samples. At Cibaliung, Antam conducted coring drilling, core sampling, surface and trenching description. Exploration activities at Papandayan included DGM, opening, geophysics and polygon track measurement, opening and drilling spot measurement, IP geophysics, magnetic geophysics, drilling and also core and rock sampling.

Exploration activities at Wawonii and Koloni included DGM, drilling, opening, conducted core, rock, Fi/ XRD and petro/ mineragraphy sampling, track measurement and drilling cut measurement.

Activities at Mao, Batuisi and Karosa included DGM, drilling, opening, sampling of core, rock, FI/XRD and petro/ mineragraphy and also conducted track, drilling cut and IP geophysics measurement.

The total cost for gold exploration including preparation of exploration activities and analysis reached Rp10.1 billion.

Bauxite
Antam conducted bauxite exploration activities at Mempawah, Landak, Munggu Pasir and Tayan of West Kalimantan.

In general, exploration activities at West Kalimantan included grid measurement, test pitting and sampling to support efforts in increasing classification of both resources and reserves estimations.

Total cost of bauxite exploration reached Rp2.8 billion. (end of excerpt)

*preliminary result, Antam also releases monthly exploration report.