Release: Antam?s monthly exploration report - March 2005
Wednesday, April 13 2005 - 02:10 AM WIB
FOR THE MONTH OF MARCH 2005
Jakarta, April 12, 2005 ? PT Antam Tbk is pleased to lodge the monthly exploration report for March 2005 in accordance with the Jakarta Stock Exchange listing rules. Antam?s exploration unit, Unit Geomin, continued exploration activities on laterite nickel, gold, and bauxite. Bauxite exploration activities continued after a Field Work Order proposal by Antam?s exploration unit, Geomin was approved by the Head Office. The total cost for exploration in March 2005 reached Rp5.9 billion.
NICKEL
Nickel exploration was conducted in Buli, Halmahera; Southeast Sulawesi and Obi Island. Exploration in Buli included 4,046 metres of infill drilling at Pakal and Sangaji at a total cost of Rp3.25 billion. Infill drilling at Sangaji is intended to support Antam?s fourth ferronickel expansion project.
Antam continued exploration drilling in Southeast Sulawesi at Tapunopaka, Mandiodo and Bahubulu. On these locations, a total of 6,066 metres of drilling was conducted with a total cost of Rp4.1 billion. Drilling activities at Southeast Sulawesi were intended to support ore feed for Antam?s existing ferronickel smelters.
Meanwhile, activities at Obi have only reached a preliminary stage in the form of the mobilization of drilling equipment, installation of base camps and initial community development initiatives. The total cost for activities at Obi reached Rp218.2 million.
GOLD
Exploration activities in Mranggu, East Java, were focused on geological data analysis in cooperation with the Bandung Institute of Technology. Sample analysis is intended to detect other potential mineralizations.
In Cisono and Cicemet, Banten, regional geological mapping activities covered an area of 862.5 hectares. Antam analysed 18 rock samples, utilized fluid inclusion analysis on 3 samples and X-Ray defection analysis on 13 samples. The total exploration cost amounted to Rp20.1 million.
BAUXITE
Bauxite exploration continued after the exploration proposal made by Geomin Unit was approved by the Head Office. Bauxite exploration continued at Wacopek, Kijang while activities based on the 2005 work plan for Tayan, West Kalimantan were still at the preparation stage.
Activities at Wacopek included 13.4 kilometres of grid measurement, test pitting of 44.39 metres and sampling and preparation analysis of 185 samples and 164 samples, respectively. The total cost for bauxite exploration activities reached Rp61.1 million. (end of release)