Finders: Diamond drill testing to commence on high grade gold vein targets at Ojolali

(04 December 2009)--Finders Resources Limited (?Finders?) is pleased to announce that a man-portable diamond drill has arrived on site at Ojolali and that first pass drill testing of high grade vein targets indicated by surface channel sampling will commence immediately.

The initial program will comprise approximately 1500m of diamond drilling, commencing with 6 holes for a total of 650m to test the Way Neki prospect. The balance of the drilling will be allocated to prioritized holes at the Jambi, C1 and Belida prospects.

The overall diamond drilling program is expected to take about three months to complete, with initial results available around the end of January.

An additional program of around 5,000m of reverse circulation drilling, focused on extensions to the Jambi oxide deposit and Tambang vein supergene zone is also planned pending sourcing of a suitable drilling rig.

Finders? exploration target at Ojolali is to increase oxide gold resources to +300,000 Oz Au, to provide the basis for an initial low cost 30-50,000 Oz gold per year open pit mine, whilst also continuing to identify, prioritise and test other gold and silver targets within the Ojolali epithermal district. Previous regional exploration by Finders, using both soil geochemistry and ground geophysics has identified numerous targets with excellent potential for the discovery of additional resources

Way Neki - targeting high grade quartz vein hosted gold-silver mineralization

At Way Neki, mapping and trenching following up local miner workings has identified a significant zone of relatively well defined quartz veins, with relatively narrow alteration selvages, hosted by more massive basement basaltic host rocks than the strongly altered andesitic host for Jambi mineralization. The veins occur in an area at least 900m north-south by 800m east-west, which may extend northwards to link up with the previously drilled Batu Kuning prospect. The target at Way Neki is high grade quartz vein hosted gold-silver mineralization similar to that being developed by Kingsrose Mining at the Way Linggo prospect about 30 km south of Ojolali.

Channel sampling results received to date are highly encouraging, with highlights including 2m @ 50 g/t Au, 2m@38 g/t Au, 2m @ 8 g/t Au,1mat @ 1.9 g/t Au, 2m @ 11.7 g/t Au,1m @ 23 g/t Au,1m @ 6.25 g/t Au, 1.lm @ 11.1 g/t Au, 1m @12.4 g/t Au and 1m @ 6.25 g/t Au, 303 g/t Ag.

The initial proposed Way Neki drill hole locations are tabulated below and shown in Figure 1. The program is designed to test the grade, thickness and depth continuity of the narrow vein systems sampled on surface.

Background on Finders Resources
Finders Resources, Listed on AIM and ASX, is the operator of the Wetar Copper in Maluku (94% and earning), and Ojolali Gold-Silver Projects (72% with option) in Jambi. (end of edited release)