Nusantara obtains encouraging results from Awak Mas drilling program
Wednesday, November 15 2017 - 01:21 AM WIB
Indonesian gold development company Nusantara Resources Limited (NUS) announced on Tuesday the following assay results from the Phase 1 resource drilling program at its 100 percent-owned Awak Mas Gold Project located in South Sulawesi Province.
The company said in a statement the Phase 1 program comprises 67 diamond drill holes (for approximately 8,230 meters) designed to target areas of unclassified gold mineralization and upgrade Inferred Resource mineralization across the Awak Mas, Salu Bulo and Tarra deposits.
?A total of 25 drill holes have been completed to date within the Awak Mas deposit with the first of 12 holes underway at the higher grade Salu Bulo deposit. A total of three drill rigs are now assigned to the Phase 1 program following the commencement of a third rig in early November,? Nusantara said in the statement.
The company said assay results received from a further 11 drill holes continue to validate the Mineral Resource model, including better defining and expanding areas of known mineralization. Particularly strong results were returned from a previously poorly defined mineralized zone within the Rante Domain of the Awak Mas deposit.
?Today?s results from the Awak Mas deposit resource drilling program are extremely encouraging in both demonstrating the robustness of this broad mineralized system and the veracity of the geological model? commented Nusantara?s Managing Director and CEO, Mike Spreadborough. ?The results to date also demonstrate the presence of additional mineralization within and beyond the resource pit shell, confirming the potential to grow the scale of the Awak Mas Gold Project.?
Editing by Reiner Simanjuntak