Finders to resume exploration at Wetar copper project
Tuesday, April 5 2016 - 05:23 AM WIB
ASX-listed Finders Resources Ltd said that it plans to resume this year exploration activities on Wetar Island, Maluku Tenggara Barat Regency, Maluku Province, where the company is developing a copper project.
Finders said in a statement last week that exploration will be focussing initially on the nearby satellite Meron massive sulphide deposit and then on other copper and gold targets identified on the island by previous explorers, including Karkopang. No further details were provided.
But according to company website, similar style mineralisation and potential for additional resources has been identified near the Kali Kuning deposit at Meron and Karkopang on Wetar Island. ?Partial drilling of Meron by a previous explorer has shown encouraging copper assays,? it said.
Finders owns 95 percent of the Wetar Copper Project, which comprises the development, mining and processing of sulphide copper deposits at Kali Kuning and Lerokis on Wetar Island. Finders is developing a 25,000 ton per annum (tpa) copper cathode SX-EW plant as part of the expansion of the copper project, which is expected to start production in the early part of the second quarter of 2016.
Editing by Reiner Simanjuntak