Jakarta, CNN Indonesia –
PT Sumbawa Timur Mining (STM) presented findings of copper resources gold Onto extends to more than 500 meters from the last drilling hole.
“With the complete assay results, STM reported the cut point of 1,594.7 meters with copper content of 1 percent and gold 0.40 g / t,” said Bede Evans, President Director of STM, in an official statement, Thursday (22 / 10).
The findings include a 100-meter cut point with 5.99 percent copper grade and 1.11 g / t gold.
“The results of this latest drilling show significant progress regarding the estimation of mineral resources in Hu’u, Sumbawa. This latest finding also strengthens the potential of Onto reserves as world class mineral potential,” added Evans.
STM, he continued, is the owner of the seventh generation Hu’u project Contract of Work (KK) in West Nusa Tenggara.
The company is a joint venture between Eastern Star Resources Pty Ltd (80 percent), a subsidiary of Vale SA, and PT Antam Tbk (ANTM) by 20 percent.
Evans said he was enthusiastic about this latest finding, because operations in Hu’u had slowed down due to temporary restrictions on the impact of the corona virus (covid-19) pandemic.
“We are very enthusiastic about the results of the VHD096 drill hole. This is a quite difficult drill hole and achieved through hard work in the field,” he said.
Along with the drill hole, STM also received test results for the VHD091 drill hole with a depth of 1,420.2 meters to the western part of the Onto mineral resource.
A positive result found a copper grade of 1.11 percent with gold 0.84 g / t, including the 318 meter cutoff point with a copper grade of 1.81 percent and gold at 1.32 g / t.
“The latest drilling results reflect the positive prospects of the Hu’u project for shareholders. The drill hole results provide many opportunities for STM. We are sure that these results will provide a solid basis for the continued development of the project,” said STM Deputy President Director Bronto Sutopo.
(one / agt)
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