Oropa to undertake drilling to increase resource from N. Sumatra gold project
Thursday, April 5 2007 - 05:00 AM WIB
ASX-listed Australian mining firm Oropa Limited announced on Thursday a drilling program on its Pungkut gold project in North Sumatra, aiming to increase inferred gold resources from the concession to more than 1 million ounces would be commenced mid-April.
The company said the drilling would focus Sambung prospect in the North Block of the Pungkut Contract of Work, with initial drilling would focus on a large IP anomaly nearby to an upslope of the Sambung 100,000 oz inferred resource.
?This drilling will form part of 5,500 m programme to test a number of geological and geophysical targets along the 2.5-km Sihayo-Sambung trend to increase the existing inferred global gold resources of 710,000 oz at Sihayo-1 North and Sambung,? the company said.
The company is in the process of raising A$400,000 through placement to fund the drilling programme. (alex)