Wilton updates mineral resources estimates for Ciemas gold project
Thursday, October 13 2016 - 03:37 AM WIB
SGX-listed Wilton Resources Corporation Limited said that an independent annual qualified person?s report (AQPR 2016) has been prepared by the company?s independent consultant, SRK Consulting China Limited, in connection with Rule 1204(23)(a) of the Singapore Exchange Securities Trading Limited (SGX-ST) Listing Manual.
The company said in an announcement on Wednesday the AQPR 2016 includes updated estimates of mineral resources for the mining concession area of PT Wilton Wahana Indonesia (PT WWI), a subsidiary of company, as at June 30, 2016.
Wilton holds the mining and production licenses for two concession blocks, known as the Ciemas gold project, covering an area of approximately 3,078.5 hectares in West Java, out of which only an area of 200 hectares has been explored. The most recent Independent Qualified Person?s Report (IQPR) of Wilton?s assets dated June 2015 contains an estimate of total mineral resources for the Ciemas gold project of 4.6 million tons containing approximately 39,000 kg of gold. Total production costs (C3) for the Ciemas gold project have been estimated as part of a scoping study of between US$600-US$700 per ounce of gold.
Table: Mineral Resources Estimates for PT WWI as at June 30, 2016
| Property | Category | As of June 2016 | As of June 2015 | Changes1 | ||||
| Resource (kt) | Au (g/t) | Au (kg) | Resource (kt) | Au (g/t) | Au (kg) | |||
| Pasir minggu | Measured | 120 | 7.3 | 870 | 120 | 7.3 | 870 | 0% |
| Indicated | 450 | 7.5 | 3,930 | 450 | 7.5 | 3,390 | 0% | |
| Inferred | 270 | 3.8 | 1,030 | 270 | 3.8 | 1,030 | 0% | |
| Cikadu | Indicated | 1,100 | 9.1 | 9,970 | 1,100 | 9.1 | 9,970 | 0% |
| Inferred | 360 | 8.8 | 3,040 | 360 | 8.4 | 3,040 | 0% | |
| Sekolah | Indicated | 710 | 9.2 | 6,520 | 710 | 9.2 | 6,520 | 0% |
| inferred | 300 | 8.6 | 2,580 | 300 | 8.6 | 2,580 | 0% | |
| Cibatu | Indicated | 660 | 9.1 | 5,990 | 660 | 9.1 | 5,990 | 0% |
| Inferred | 670 | 8.3 | 5,580 | 670 | 8.3 | 5,580 | 0% | |
| Total | Measured | 120 | 7.3 | 870 | 120 | 7.3 | 870 | 0% |
| Indicated | 2,920 | 8.9 | 25,870 | 2,920 | 8.9 | 25,870 | 0% | |
| Measured dan Indicated | 3,040 | 8.8 | 26,740 | 3,040 | 8.8 | 26,740 | 0% | |
| Inferred | 1,600 | 7.6 | 12,230 | 1,600 | 7.6 | 12,230 | 0% | |
Note: 1 Change from previous update as of 30 June 2014, changes are relative to contained metal as estimated; positive number denotes increase and negative number denotes decrease.
*Cut-off grade applied for Mineral Resource statement is 1.0 g/t Au.
*Mineral Resources are not Ore Reserves and do not have demonstrated economic viability.
Editing by Reiner Simanjuntak