Oropa increases Pungkut gold resource
Friday, February 13 2004 - 01:16 AM WIB
Australian junior explorer Oropa Limited significantly upgrades inferred gold resource in its Pungkut prospect in North Sumatra from 304,000 ounces to 609,000 ounces (7.1 Mt @ 2.7 g/t) following extremely encouraging drilling results.
The company said it was looking to increase the inferred resources to 1 million ounces with drilling of Sihayo 1 North prospect.
Oropa has 75 percent stake in Pungkut gold project, with state miner PT. Aneka Tambang Tbk. holds the balance. Oropa, which si listed on The Australian Stock Exchange, had been granted a listing on Frankfurt Stock Exchange in Germany. (alex)