Nusantara hits more gold, closes in on Awak Mas Resource Update
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Drilling has returned shallow, ore-grade gold intersections at the Mapacing domain, setting the stage for Nusantara to update its mineral resource, and ore reserve estimates for its Awak Mas deposit.
The closed spaced diamond drilling at Mapacing, a geological domain that comprises the western portion of the Awak Mas, confirmed the presence of shallow, thick zones of ore.
Significant intersections are 33m grading 1.85 grams per tonne (g/t) gold from just 2m including 2m at 4.53g/t gold from 5m and 5m at 4.74g/t gold from 15m as well as 19m at 3.76g/t gold from surface including 1m at 52g/t gold from 1m.
Nusantara Resources (ASX:NUS) managing director Neil Whitaker said the latest intersections are located in an area that it intends to mine very early in the mining schedule.
“The intersection of ore-grade intervals where we expected to find sub-economic material is an extremely pleasing and positive development, and we expect that the new close spaced data will benefit areas which have previously been conservatively modelled,” he explained.
“The Awak Mas mineral resource estimate can now be updated, which paves the way for a new ore reserve estimate.”
An update of the current Awak Mas deposit mineral resource of 2.35 million oz of gold is expected to be completed in the March 2021 quarter.
This is underpinned by the recently completed drilling at Mapacing and Tanjung deposits.
Recent drilling at Tanjung has identified several new, high-grade ‘feeder’ structures that have not been previously modelled.
Once the mineral resource estimate is released, Nusantara will update the market with the ore reserve estimate.
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.