G-Resources completes Ramba deposit drilling program
Tuesday, September 7 2010 - 02:19 AM WIB
Drilling at Ramba Joring was completed in July and all assay results are now available. Drilling will now focus on the Tor Uluala prospect where significant previous intersections, abundant gold-bearing surface rock samples and large geophysical anomalies occur, the company said.
The firm drilled a total of 93 drill holes to a total depht of 15,524 metres, using four diamond drill rigs operating 24 hoursa day, seven days a week during drllling at Ramba Jorong.
Geological interpretation has been completed and resource estimation is underway. An updated Mineral Resource statement will be released shortly, likely to be during October, it said.
Some outstanding results have been achieved from Ramba Joring which complement results previously announced by G-Resources and previous project owners. Long and/or high grade intersections have been returned from throughout the deposit with some of the most outstanding new results including: 87.5 m @ 6.73 g/t gold; 87.0 m @ 2.96 g/t gold; 126.2 m @ 1.07 g/t gold; 48.4 m @ 2.8 g/t gold; 44.0 m @ 2.57 g/t gold; 43.0 m @ 2.65 g/t gold and 15.6 m @ 6.96 g/t gold.
The recently completed drilling program was predominantly aimed at infilling within the current resource outline, in order to increase the resource category allowing incorporation of the Ramba Joring deposit into the Martabe Ore Reserves and mine plan.
However, the program has also successfully extended the deposit outside the existing resource in a number of areas. The highlights several areas of high grade mineralisation outside the current resource including APSD930 15 m at 2.51 g/t gold, 13.5 m at 2.76 g/t gold, 12.4 m at 1.66 g/t gold
The program defined the boundaries of the deposit in most areas. However the deposit remains open to the north and north east. Further drilling is planned to test these potential extensions.
Metallurgical test work has been undertaken in conjunction with the drill program and initial geotechnical investigations are set to commence, allowing estimation of an Ore Reserve in the most timely fashion possible.
The project is established under a sixth generation Contract of Work signed in April 1997. The COW defines all of the terms, conditions and obligations of both G-Resources and the Government of Indonesia for the life of the COW. Martabe has resource base of 6.5Moz gold and 66Moz silver.
Martabe is expected to commence production in the last quarter of 2011 at a rate of 250,000 oz/annum of gold and 2-3 million oz/annum of silver at an anticipated low cash cost of US$280/oz of gold.
G-Resources is seeking to rapidly grow production to more than one million ounces of gold annually through exploration of the large and highly prospective COW area and through acquisition of other quality gold assets. (denny)
Current Ramba Joring Mineral Resources
| Deposit 0.5 g/t Au cut-off grade | Category | Tonnes (Mt) | Gold Grade (g/t Au) | Silver Grade (g/t Ag) | Contained Metal | |
| Gold (Moz) | Silver (Moz) | |||||
| Ramba Joring | Inferred | 36.56 | 1.0 | 4 | 1.20 | 5.20 |