Oropa completes JORC resource estimate from N. Sumatra gold project
Tuesday, May 27 2008 - 03:28 AM WIB
The resource at Sihayo 1 North is estimated 12.1 million tons grading 2.4g/t gold for 910,000 ounces of contained gold - representing a 49 percent increase in gold resources, the company said in statement on Tuesday.
?The resource at Sihayo 1 North remains open along the north western margin, and the company plans to undertake additional drilling to target possible extensions to the resource. Oropa will also embark upon an infill drilling program to increase resource confidence to at least an indicated status as preparatory work continues towards a Bankable Feasibility Study,? it said.
Oropa will immediately embark on a Scoping Study for the combined Sihayo 1 North and Sambung deposits, and will engage the services of an independent engineering consultancy group to conduct that study.
The Company also intends to conduct further fieldwork at Hutabargot Julu, located 5.5km southeast of the Sihayo 1 North resource, in the coming months to undertake additional, more intensive drilling at this epithermal vein system after the recent intersection of 5m at 35.67g/t at a depth of 47m from surface. While the planned Scoping Study will focus solely on the Sihayo 1 North and Sambung deposits, it is intended that any future success and resource estimate at Hutabargot Julu would be incorporated into any final mining plan for the area.
Earlier, the company revealed in a presentation that host inferred resources of 710,000 grams of gold and it planned to start feasibility study to develop its Pungkut gold project in North Sumatra in early 2009.
Oropa has 75 percent stake in Pungkut gold project, with IDX-listed miner PT.Aneka Tambang holding the balance.(denny)