Sumatra Copper announces JORC compliant Ore Reserve of Tembang
Tuesday, April 10 2012 - 05:11 AM WIB
Australia-listed firm Sumatra Copper & Gold plc has announced a JORC compliant Ore Reserve of 513,000 ounces gold equivalent for its wholly owned Tembang gold and silver project in southern Sumatra.
According to its press release issued on Tuesday, the Ore Reserve is based on the Tembang Mineral Resource published in August 2011. The Ore Reserve includes the Asmar, Oerenai, Buluh, Aidit, Bujang and Belinau deposits.
Sumatra Managing Director Julian Ford said an Ore Reserve of this magnitude was a significant milestone for the Company.
?Although we have taken a conservative approach, it is pleasing that we have further upside from the PSV mineralization and from exploration upside.? said Ford.
?The conversion to reserve of 73% of the vein Mineral Resource demonstrates the robustness of the Tembang project and the relative high grade of the reserve at a 2.9 g/t gold equivalent is very encouraging, confirming our expectation for relatively low cash production costs from this brownfield development," he said.
Tembang project April 2012 Ore Reserve statement summary
Deposit
|
Reserve
Category |
Tonnes
(kt) |
Grade
Au (g/t) |
Contained
Gold (oz) |
Grade
Ag (g/t) |
Contained
Silver (oz) |
| Asmar | Proved | 650 | 1.7 | 35,000 | 24.0 | 498,000 |
| Probable | 1,230 | 1.3? | 49,000 | 20.5 | 808,000 | |
| Berenai | Proved | 910 | 2.0 | 60,000? | 40.8 | 1,195,000 |
| Probable | 980 | 2.1 | 67,000? | 23.6 | 740,000 | |
| Buluh | Proved | 560 | ?2.5 | 45,000? | 40.9 | 735,000 |
| Probable | 400 | 2.0 | 26,000 | 29.0 | 374,000 | |
| Aidit | Proved? | ‐ | ‐ | ‐ | ‐ | ‐ |
| Probable | 20 | 3.1? | 2,000 | 44.6 | 30,000 | |
| Bujang | Proved | 140? | 4.2 | 19,000? | 52.1 | 238,000 |
| Probable? | 50 | 2.3? | 4,000 | 26.0 | 40,000 | |
| Belinau open pit | Proved | 90 | 5.5 | 16,000 | 68.4? | 196,000 |
| Probable | 60? | 3.4 | 6,000? | 53.2 | 97,000 | |
| Belinau?? underground | Proved? | ?50 | 8.7 | 15,000 | 74.1 | 130,000 |
| Probable | 360 | 5.0 | 59,000 | 39.3 | 458,000 | |
| Total | Proved | 2,400 | 2.5 | 190,000 | 38.7 | 2,991,000 |
| Probable | 3,090? | 2.1 | 213,000 | 25.6 | 2,547,000 | |
| Total | 5,490 | 2.3 | 403,000 | 31.4 | 5,539,000 |
Editing by Benget Besalicto Tnb.