Straits says C. Kalimantan gold mine to produce 100,000 ounces in 2006
Monday, October 17 2005 - 04:49 AM WIB
Australian miner Straits Resources Limited announced on Monday that it Mount Muro gold mine in Central Kalimantan had achieved its first full quarter of production, with 6,203 gold equivalent ounces produced.
The mine is still in ramp up phase, and is expected to reach full production capacity once access to the rich Botol gold deposit occurs in the December 2005 quarter, said the company.
The mine recommenced production after being stopped for several years last June.
Forecast gold production is 100,000 ounces in 2006.
The company said exploration continued at Mt Muro to boost the current resource of 800,000 ounces gold equivalent.
Recent drilling at the Soan Prospect and Icah vein produced very encouraging results, including 4.75m @ 52 g/t Au and 6.45m @ 9.45 g/t Au, said the company.
Straits has 100 percent stake at Mt. Muro mine. (alex)