Nusantara Resources Limited (“Nusantara” or “the Company”, ASX: NUS) owns a 100% interest in the Awak Mas Gold Project in Sulawesi, Indonesia. The Project currently hosts an open pit Indicated and Inferred Resource of 38.4 Mt at 1.41 g/t Au for 1.74 Moz (May 2017).
Nusantara’s highly experienced Board and Management Team is working to increase shareholder value through advancing the Awak Mas Gold Project towards development in the near-term. The Company plans to undertake further drilling, which has the potential to significantly increase the resource inventory, and complete a Definitive Feasibility Study by mid-2018 in advance of a final investment decision expected for late 2018.
Nusantara also believes there is significant exploration potential at the Awak Mas Gold Project with planned drilling targeting an additional 0.3 to 0.5 Moz with an aspirational exploration goal of +3 Moz*.
*Any discussion in relation to the potential quantity and grade of Exploration Targets is only conceptual in nature. While Nusantara is confident that it will report additional resources for the Awak Mas Gold Project, there has been insufficient exploration to define resources in addition to the current Mineral Resource Estimate reported in accordance with the guidelines of the JORC Code (2012 Edition) and it is uncertain if further exploration will result in the determination of additional Mineral Resources.