Announcement Date: 2022-08-02
Announcement Type: Drilling Results
Announcement Code: JORC
Company name: PT Merdeka Copper Gold Tbk
Project name: Pani
Location: Indonesia
Commodities: Gold
Highlight: Drilling results incl. 292m @ 1.46g/t Au from 0m
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: New drilling at Pani Gold Project returns positive drilling results PT Merdeka Copper Gold Tbk (IDX: MDKA, “Merdeka”, “Company”) is pleased to provide this update on the Pani Gold Project (“Pani”, “the Project”) recent drilling results. Merdeka owns a 70% effective economic interest in the Pani project. A 50,000 metre drilling campaign at Pani is underway to follow up on previous drilling, with results from the first seven holes demonstrating the continuity of mineralisation. Selected intercepts1 from these holes are given below A 50,000 meter drill program has been designed to define mineralisation within the area between the Pani IUP and the Pani CoW (“Baganite zone”) and to test the depth of mineralisation. The Baganite zone is a sparsely tested zone, with two historical drillholes (by Utah International in 1982) drilled on the western edge of the Pani IUP returning assays of 406m @ 0.5g/t (GPD-04) and 154m @ 0.57g/t (GPD-05). Due to the challenging topography, drilling is conducted from a limited number of surface locations and is therefore not on regularly spaced sections. For ease of reference, the drill holes reported have been grouped into four “drilling sections” (sections A to D) as shown in Figure 2.
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