Archipelago gets new drilling results from Toka Tindung

By Ruli Setiawan

London-listed Archipelago Resources Plc has recently announced it has received a series of drilling results from its high grade southern deposits, close to infrastructure at the Toka Tindung Mine in North Sulawesi. Assays have been received from 239 drill holes totaling 34,489 meters.

"Toka Tindung continues to demonstrate its potential as a multi-million ounce mine deposit, with more excellent results from our near site exploration programme. These results are extremely exciting and again demonstrate the prospective nature of Toka Tindung. Following our 2011 exploration programme, we were able to increase the mine life by more than 50%. Combined with the results reported earlier in the year, these high-grade intercepts now have the potential to again materially increase our economically defined gold resource, providing a further platform for growing our production profile and increasing shareholder value," Marcus Engelbrecht, Managing Director and CEO said.

Toka Tindung involves mining from the main Toka pit and the four southern satellite deposits of Pajajaran, Araren, Blambangan and Kopra -all of which remain open at depth and along strike.

Located in close proximity to the central processing infrastructure, the southern deposits are high grade and prospective for further exploration activities. Amongst other initiatives, Archipelago's 2012 exploration programme involves further drilling at these known deposits in addition to the adjacent mineralised zones of Semut Barat, Semut Timur and Makassar.

The company further said in a statement that encouraging drill intersections from the deeper mineralised zones can be reported for the Kopra, Blambangan and Pajajaran deposits, in addition to those previously announced at Blambangan and Pajajaran on 9 July 2012.

Editing by Er Audy Zandri