J Resources prepares for construction of N. Sulawesi gold project
Monday, May 22 2017 - 12:58 AM WIB
IDX-listed gold mining firm PT J Resources Asia Pasifik Tbk is making preparations for initial construction program at its Doup gold mine in North Sulawesi Province.
?Doup is currently at design stage to determine the initial construction program with a first production targeted for mid-2019,? J Resources said in an annual report published last week.
The company said Doup will likely contribute 100,000 oz of gold per annum for 10 years once it reaches full production.
The Doup gold concession, covering an area of 4,000 hectares, is run by subsidiary PT Arafura Surya Alam.
Doup consists of the Benteng, Panang and associated satellite deposits that have a combined JORC (2012) compliant proven and probable ore reserves of 1,234,000 oz gold contained within a measured, indicated and inferred mineral resources of 2,222,000 oz gold as at December 31, 2016.
Editing by Reiner Simanjuntak