Indonesian gold shines for Nusantara as measured resource draws near

Special Report: Nusantara Resources has revealed stunning assays from diamond drilling at its Awak Mas gold project in Indonesia ahead of a maiden measured resource early next year.

The closed space drilling program by Nusantara Resources (ASX:NUS) identified further broad intervals and individual high grades at Awak Mas, including several new feeder structures in the Tanjung domain.

The list of standout intersections includes:

14m at 4.95 grams per tonne gold from 50m, including 9m at 7.56g/t in TGD042;
14m at 2.97g/t from 27m, including 1m at 21g/t from 27m, 3m at 4.65g/t from 37m, and 3m at 6.01g/t from 45m in TGD026;
And 26m at 3.15g/t gold from 31m, including 1m at 10.04g/t from 33m, 5m at 5.14g/t from 37m and 5m at 5.06g/t from 50m in TGD054.

Induced polarisation data collection has now wrapped up for three of the four planned survey areas, with interpretation planned for February next year to enhance targeting over poorly explored areas of interest within 20km of prospective strike.

Nusantara managing director Neil Whitaker said the company was pleased with the results.

“The drilling results from Tanjung are tremendous, with broad intersections as well as individually high grades,” he said.

“Drilling has intersected more of the narrow, higher grade feeder structures that we see throughout the deposit. And, we expect to see new targets emerge in the near-mine area when we complete processing and interpretation of the IP early in 2021.”

Nusantara Tanjung — A plan view of the key prospects near-mine at Awak Mas. Pic: Company supplied.

Today’s results are part of a 54-hole program which has been carried out at Tanjung for 3677m – part of a program designed to de-risk the project by allowing Nusantara to define a measured resource.

The company said several high grade intercepts reported during the program have been interpreted to occur within sub-vertical feeder structures similar to those reported during close-spaced drilling at the Rante depositin September.

Front end engineering and design (FEED) works are being carried out in parallel with the drilling, working towards an initial mining area expected to span starter pits at Tanjung and Mapacing – geological domains within the greater Awak Mas deposit – as well as the Salu Bulo satellite deposit.

Close-spaced drilling at Tanjung and Rante is now complete, with further drilling underway at Mapacing and Salu Bulo and seven drill rigs in operation.

This article was developed in collaboration with Nusantara Resources, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.