Finders updates Ojolali exploration results
Friday, June 25 2010 - 05:00 AM WIB
Finders Resources Limited is pleased to report that it expects to complete its current reverse circulation drilling program at the Ojolali gold-silver project in Sumatra by Friday 25th June. The primary aim of the program is to increase the resource of open-pittable oxide resources to a level sufficient to support a viable start-up mining operation at Ojolali.
To date 36 holes totaling 3,550m have been completed, with a final hole currently in progress.
This work has focused on:
1. Testing a previously unrecognized north-easterly trending vein system within the known oxide gold/mineralisation at the Jambi prospect; and
2. Testing for high grade supergene enriched silver mineralisation within the top 100m of a 600m strike length of the extensive Tambang gold-silver vein system.
Visually, the drilling has supported the target geological concept in both cases, including a vein zone of approximately 20m true width at Tambang.
The significance of the drilling will depend on establishing continuity of potential ore grades between holes, as such it is not planned to release results for either system until all assay results are received, approximately 2 weeks for the Jambi drilling, and approximately 4 weeks for Tambang. (end of release)