Release: Antam monthly exploration report - May 2005
Saturday, June 11 2005 - 12:58 AM WIB
Jakarta, June 10,2005 ? PT Antam Tbk is pleased to lodge the monthly exploration report for May 2005 in accordance with the Jakarta Stock Exchange listing rules. Exploration activities remained focused on Antam?s main commodities of nickel laterite, gold and bauxite. The total cost for exploration in May 2005 reached Rp5.3 billion.
NICKEL
Antam conducted nickel exploration in Buli, Halmahera; South Sulawesi and Obi Island. Exploration in Buli included 11,043 metres of infill drilling at Pakal and Sangaji and infill drilling at Tanjung Buli reached 1,652 metres with a total cost of Rp2.70 billion. To support exploration planning Halmahera, Antam conducted analyses of the continuation of nickel laterite deposits as well as georadar research on several mining blocks.
Antam continued exploration drilling in South Sulawesi at Tapunopaka, Mandiodo and Bahubulu. At these locations, Antam conducted a total of 3,331 metres of drilling at a total cost of Rp 1.53 billion.
Meanwhile, Antam conducted 1,647 metres of drilling at Obi with a total cost of Rp450.46 million. Antam also continued community development initiatives within Obi.
The total cost of nickel exploration reached Rp4.68 billion.
GOLD
Antam focused exploration activities in Mranggu, East java, on geological data analysis in cooperation with the Bandung Institute of Technology. Sample analysis is intended to detect other potential mineralizations.
Gold exploration activities at Kalamiseng, South Sulawesi, included the evaluation exploration activities conducted in April 2005. Following the completion of a report based on these activities, Antam plans to apply for a mining license.
In Cisono-Cisemet, Banten, Antam continued regional geological mapping activities and covered an area of 862.5 hectares. The total exploration cost amounted to Rp1.37 million.
In Arsejulu, North Sumatra, regional geological mapping activities covered on area of 16,500 hectares. Antam analysed 15 rock samples and conducted X-Ray defection analysis on 3 samples. The total exploration cost amounted to Rp18.5 million.
Antam conducted 761 metres of drilling as its Pongkor gold mine with a total cost of Rp276.4 million. Antam also conducted 33 metres of technical geological drilling at Pongkor with a total cost of Rp79.4 million.
Meanwhile, gold exploration at Flores, east Nusa Tenggara and Cikotok banten, also continued in cooperation with JOGMEC Japan.
The total cost of gold exploration incuding drilling and geological mapping activities at Pongkor reached Rp375.67 million.
BAUXITE
Antam continued bauxite exploration at Wacopek, Kijang which included 12.75 kilometres of grid measurements, 473 metres of test pitting, mineral sampling of 257 samples and the preparation of 264 samples. The total cost was Rp95.75 million.
Antam test pitting activities at Tayan used a 25m x 25m grid. Activities at Tayan included grid measurements of 12.63 kilometres, test pitting of 1,306 metres, sampling analysis of 314 samples and preparation analysis of 433 samples. The total cost for bauxite exploration activities amounted to Rp147.62 million.
The total cost of bauxite exploration reached Rp243.37 million. (end of release)