Wilton in talks with potential partner for Ciemas gold project
Saturday, May 13 2017 - 01:53 PM WIB
SGX-listed Wilton Resources Corporation Ltd said it is currently in discussions with a potential partner for future expansion of a production plant currently being develop to process ores at its Ciemas gold project in Indonesia?s West Java Province.
Wilton is currently in the process of developing an initial pilot production plant with an eventual production capacity of 300 tons per day of ore. The company said in a statement that the program is being implemented in stages and work on the construction of the leaching processing plant is already underway.
?The group is in advanced discussions with a potential partner to collaborate on future expansion of the leaching processing plant. Construction of the associated infrastructure such as the hauling road, utility facility, laboratory and base camp is also underway together with preparation of the open cut mine site,? Wilton said in the statement issued on Thursday.
The initial stage of production is aimed to process ore from the group?s Cibak and Cipancar prospects. The company has previously said that production was expected to commence in the fourth quarter of this year.
As has been previously reported, Wilton is also in the process of completing a feasibility study for a planned processing plant with capacity of 1,500 tons per day (termed by the company as production program), expected to be completed in the fourth quarter of this year.
?The intention of the production program is to evaluate the group?s main mining operation and processing plant for its Pasir Manggu, Cikadu, Sekolah and Cibatu prospect areas (collectively, the ?4 Prospects?), with a production capacity of 1500 tpd, as recommended by the group?s independent consultants,? Wilton said.
The company said an estimation of Ore Reserves for the 4 Prospects is underway and is expected to be completed during 4QFY17. A qualified person?s report presenting the results of the Ore Reserves estimation will be announced as soon as practicable thereafter.
In parallel with the development of the 4 Prospects and the Cibak and Cipancar Prospects, Wilton said it may expand its exploration efforts to other mineralised areas identified by historical exploration within its mining permits in the Ciemas District.
?Additional surface rights to areas within the group?s concession blocks are being negotiated to facilitate future exploration,? the company said.
Editing by Reiner Simanjuntak