Finders expects Lampung gold project to start production 2008
Tuesday, March 20 2007 - 01:51 PM WIB
UK miner Finders Resources Ltd. expects its Ojolali gold-silver mine in Lampung province to be able to commence production in 2008.
The company said in its 2006 Interim results released on Monday that scooping study is currently underway to evaluate development options, targeting +30,000 Oz/yr gold production.
Finders is expected to complete the feasibility study on the project in 2007
The company said earlier that Ojolali has inferred resources of 320,000 oz Au and 39 million oz Ag, based on over 212 drill holes drilled by previous owners.
It also said new exploration targets within the concession are being continually prioritized, using 3D geophysical techniques combined with surface mapping and sampling.
Finders has 72 percent stake in Ojolali project, with option to increase ownership to 100 percent.(alex)