Release: Antam monthly exploration report for May 2006
Tuesday, June 13 2006 - 01:42 AM WIB
Exploration activities focused primarily on nickel, gold and bauxite.
Total exploration cost on May reached Rp6 billion, 21% lower than Rp7.6 billion spent on April 2006.
NICKEL EXPLORATION
Antam conducted nickel exploration in Buli, Halmahera; Southeast Sulawesi and Obi Island.
Nickel exploration using drilling method in Buli, Halmahera specifically Pakal block and Sangaji continued and reached 15,536 m. Activities included core description, core samples and also collected 14,526 preparation samples. Total cost reached Rp3.3 billion.
Antam also conducted nickel exploration in Southeast Sulawesi at Tapunopaka using drilling method that reached 2,097 m followed with core description, core samples and sample preparations. Other activities included topography measurement of 76.14 ha. Total cost reached Rp1.4 billion.
Nickel exploration conducted at Obi Island specifically at Kawasi block including drilling activities using 25 m dan 50 m spacing that reached 2,602 m at a total cost of Rp882 million.
Other exploration activities to indicate possible nickel resources were conducted at Central Sulawesi, Southeast Sulawesi and Seram Island.
Total cost for nickel exploration reached Rp5.6 billion.
GOLD EXPLORATION
Antam conducted gold exploration at Pongkor, West Java; Seblat, Bengkulu and Patah Tiga Mountain, Jambi.
Exploration activities at Pongkor included exploration drilling and geological-technical drilling evaluation.
Exploration drilling at Kubang Cicau vein below L.500 resulted 3 drilling spots (KCB-3A, KCB-5A and KCB-8) totalled 653.8 m. Drilling no.1 (KCB-3A) went through vein at 405 m above sea level elevation and 10.29 m wide. Antam is still processing the grade result. Drilling no.2 (KCB-5A) went through vein at 300 m above sea level elevation and 1.7 m wide with average grade of 4.89 gpt Au/ 29.73 gpt Ag. Drilling no.3 (KCB-8) went through vein at 470 m above sea level elevation and 3.94 m wide with average grade of 6.15 gpt Au/ 79.10 gpt Ag. Total cost reached Rp202.8 million.
Exploration activities at Seblat, Bengkulu conducted particularly at Lebong Kandis and Gunung Husein vein. Drilling activities at Lebong Kandis vein reached 251.1 m and will be continued to 300 m. Mineralization indicated at 35 m ? 42 m and 57 m ? 59.5 m depth. Other activities included Detailed Geological Mapping of 89.4 ha, opening of 926 m3 followed by collecting 302 rock samples. Total cost reached Rp115.4 million.
Antam conducted exploration at Muara Manderas, Jambi and completed Regional Geological Mapping of 14,000 ha, followed by collecting 125 samples and 35 rock samples. Total cost reached Rp63.8 million.
Total cost for gold exploration reached Rp382 million.
BAUXITE EXPLORATION
Bauxite exploration activities still focused at Tayan and Munggu Pasir. Both areas are at West Kalimantan.
Test pitting volume using 25 m spacing at Tayan reached 211 pits (1,265 m) followed by collecting 357 channel samples. Total cost reached Rp30.6 million.
At Munggu Pasir prospect, Antam continued to prepare exploration activities including 50 m spacing test-pitting grid reached 112 pits (378.4 m). Total cost reached Rp82 million.
Total cost for bauxite exploration reached Rp112.6 million. (end of release)