G-Resources updates Martabe mine resources, reserves statement

By Romel S. Gurky

Hong Kong-listed G-Resources Group Limited unveiled Thursday an update of the mineral resources and ore reserves statement for its Martabe gold and Silver mine in North Sumatra Province.

G-Resources said in a statement that the mineral resources as per December 31, 2014 is estimated at 190 million tons at 1.2 g/t gold, 11 g/t silver, for contained metal of 7.4 million ounces of gold and 70 million ounces of silver.

The mineral resources are provided in table 1 below, and are reported in accordance with the 2012 Edition of the Australasian Code for the Reporting of Exploration Results, Mineral Resources and Ore Reserves.

Table 1: Martabe Mineral Resources

Deposit	Category	Tonnes	Gold grade	Silver grade	Contained metal
		(Mt)	(g/t Au)	(g/t Ag)	Gold (Moz)	Silver (Moz)
Purnama	Measured	4.3	2.1	38	0.30	5.2
	Indicated	61	1.6	19	3.1	37
	Inferred	29	1.0	12	0.88	11
	Total	93	1.4	18	4.2	53
Mine stockpiles	Measured	2.5	1.1	10	0.09	0.75
	Total	2.5	1.1	10	0.09	0.75
Ramba Joring	Measured	-	-	-	-	-
	Indicated	34	1.0	4	1.1	4.5
	Inferred	4.6	0.8	4	0.1	0.5
	Total	38	1.0	4	1.2	5.0
Barani	Measured	-	-	-	-	-
	Indicated	8.0	1.4	2.1	0.36	0.55
	Inferred	0.23	0.83	1.6	0.01	0.01
	Total	8.3	1.4	2.1	0.37	0.56
Tor Uluala	Measured	-	-	-	-	-
	Indicated	-	-	-	-	-
	Inferred	32	0.9	8	0.9	7.8
	Total	32	0.9	8	0.9	7.8
Horas	Measured	-	-	-	-	-
	Indicated	-	-	-	-	-
	Inferred	16	0.8	2	0.4	0.9
	Total	16	0.8	2	0.4	0.9
Uluala Hulu	Measured	-	-	-	-	-
	Indicated	1.6	2.2	19	0.11	0.98
	Inferred	2.9	0.76	2.9	0.07	0.27
	Total	4.5	1.2	8.6	0.18	1.3
Combined	Total	190	1.2	11	7.4	70

Meanwhile, the total G-Resources ore reserves as per December 31, 2014 is 42.2 million tons at 2.0 g/t gold and 20 g/t silver for a total metal content of 2.68 million ounces of gold and 27.2 million ounces of silver.

The ore reserves estimate is provided in table 2 below, and is reported in accordance with the 2012 Edition of the Australasian Code for the Reporting of Exploration Results, Mineral Resources and Ore Reserves.

Table 2: Ore Reserves

Deposit	Category	Tonnes (mt)	Gold Grade (g/t Au)	Silver Grade (g/t Ag)	Contained Gold (koz)	Metal Silver (koz)
Purnama	Proved	3.5	2.4	41	270	4,700
Purnama Barani	Probable Probable	27.5 3.5	2.0 2.0	23 2.6	1,800 230	20,700 300
Ramba Joring	Probable	5.2	1.8	4.4	290	700
Purnama stockpile	Proved	2.5	1.1	9.5	90	750
Total Ore Reserves	Probable & Proved	42.2	2.0	20	2,680	27,200

Editing by Reiner Simanjuntak