Nusantara Resources: High Grade Drill Results from Salu Bulo Deposit in Indonesia
Melbourne, VIC/ January 16, 2018 / JMN Wire / Nusantara Resources Limited (ASX: NUS) (‘Nusantara’) is pleased to announce the receipt of assay results from the first 7 holes of the 12‐hole resource definition drilling program recently completed at the satellite Salu Bulo gold deposit within its 100%‐owned Awak Mas Gold Project located in South Sulawesi, Indonesia.
“Assay results received from the first seven drill holes at Salu Bulo have convincingly validated the Mineral Resource model, including better definition and expansion of areas of known mineralisation both within and adjacent to the Mineral Resource shell” commented Nusantara’s Managing Director and CEO, Mike Spreadborough. “The results to date have also confirmed grade and geological continuity enabling confidence for the conversion of the Inferred mineralisation to the Indicated category and the inclusion of previously unclassified mineralisation into the Mineral Resource model. The results from this phase of Salu Bulo drilling are also significant in providing potential additional high‐grade feed to the planned Awak Mas project processing plant.”
- 12‐hole resource definition diamond drilling program completed at the satellite Salu Bulo deposit, forming part of the Awak Mas Gold Project.
- Assay results received from the first seven drill holes confirm the continuity and strike potential of Salu Bulo. Significant intersections include:
- 30.1 m at 2.8 g/t Au from 53.4 m, including 8 m at 7.4 g/t Au from 69.5 m (SBD139M)
- 23.2 m at 2.8 g/t Au from 0 m, including 9.5 m at 4.1 g/t Au from 2 m (SBD138)
- 13.0 m at 1.9 g/t Au from 0 m, including 2 m at 5.5 g/t Au from 9 m (SBD136)
- 21.0 m at 1.5 g/t Au from 0 m, including 3 m at 6.0 g/t Au from 18 m (SBD134)
- Results expected to increase size and confidence of current Inferred and Indicated Resource of 1.4 Mt at 2.58 g/t Au1.
- Updated Salu Bulo Mineral Resource estimate to be reported in early February 2018.