Table 1: Awak Mas Mineral Resource Estimate (May 2017) at 0.5 g/t Au cut-off and constrained by
US$1,400/oz pit shell.
1. All Mineral Resources are reported in accordance with the JORC Code (2012).
2. The May 2017 Mineral Resource is reported at a cut-off grade of 0.5 g/t Au and constrained within US$1,400 per ounce optimised pit shells.
3. All figures are rounded to reflect appropriate levels of confidence. Apparent differences may occur due to rounding.
The mineralisation at Awak Mas covers an area of 1.7km by 1.0km, with satellite resources at Salu Bulo and Tarra. The field is largely open, hosting numerous extensions and possible satellite deposits that are intended to be targeted along a 10km regional trend where previous trenching and scout drilling has identified ore grade mineralisation. An initial 8,000 metre drill program is planned for 2017 to increase drill density in extensions from the known Resource and a further 2,000m testing regional targets, with an Exploration Target of 0.3 – 0.5Moz identified.
The historic mining, metallurgical and infrastructure work along with advanced permitting, provides an enhanced launching point to rapidly take the project forward, with a Definitive Feasibility Study planned for 2018 leading to a decision point for development in 2019.
Permitting is well advanced, the COW has received its AMDAL (environmental) permit and the Indonesian feasibility permit and is ready to advance into a three-year construction phase then 30-year production period.