Golddeveloper Nusantara Resources has added 200 000 oz of gold to its indicated mineral resource estimate at the Awak Mas gold project, in Indonesia.
Following the inclusion of the final 31 resource definition and metallurgical diamond holes, the Awak Mas project, which consists of the Awak Mas, Salu Bulo and Terra deposits, is now estimated to host some 45.3-million tonnes of resource, grading 1.4 g/t gold for two-million ounces of gold.
Nusantara said on Tuesday that 95% of the contained ounces in the Awak Mas deposit, and 90% of the Salu Bulo deposit were now reported to the indicated category. This represented a 200 000 oz increase to the contained gold in the indicated resource category.
“Achieving 89% in the indicated resource category for the Awak Mas gold project is a direct reflection of strong confidence in the geological model,” said Nusantara MD and CEO Mike Spreadborough.
The company is currently considering a 2.5-million-tonne-a-year operation at Awak Mas, with a definitive feasibility study due for delivery in July this year. The project is currently expected to cost between $150-million and $170-million to develop, with project commissioning expected to take some 27 months.
