Nusantara Resources Commences Near Mine Exploration Drilling

THE DRILL SERGEANT: Nusantara Resources (ASX: NUS) started drilling at the Puncak Selatan near-mine prospect at the company’s 100 per cent-owned Awak Mas gold project, located in South Sulawesi, Indonesia.

Nusantara Resources’ recent field exploration has focussed on numerous near-mine prospects within a two-kilometre radius of the planned processing plant with the aim of enhancing and extending the proposed eleven-year mining operation.

To date, the company has completed over 1,500 metres of near-mine trenching yielding encouraging results.

Recent trenching results at the Puncak Selatan prospect have included:

5 metres at 2.32 grams per tonne gold, 5m at 2.8g/t gold, 2m at 2.13g/t gold;

2m at 1.28g/t gold, 2m at 3g/t gold, 1m at 2.46g/t gold;

35m at 1.2g/t gold, including 7m at 2.5g/t gold, 3m at 2g/t gold and 1m at 4.7g/t gold; and

12m at 1.7g/t gold, including 8m at 2.3g/t gold.

The drilling program will test the possibility that the Awak Mas eastern mineralisation (Lengket domain) could extend up-dip as the Puncak Selatan prospect surface expression and provide information to assist in confirming the geological model in the near-mine area.

An initial six-hole drill program at the Puncak Selatan prospect has commenced.

“The commencement of near mine exploration is the first step in identifying additional resources that have the potential to be processed at the proposed processing plant and add further value to the long life, low cost Awak Mas gold project,” Nusantara Resources managing director and CEO Mike Spreadborough said in the company’s announcement to the Australian Securities Exchange.

“The identification of significant mineralisation at the Puncak Selatan prospect and the near-mine area potential to extend the Awak Mas open pit, has made this a high priority drill target.

“Our work continues to define the geological setting of the Contract of Work area and together with a planned geophysics program will increase the possibility of further discoveries that will enhance the project.”