Announcement Date: 2023-03-09
Announcement Type: Drilling Results
Announcement Code: JORC
Company name: Sihayo Gold Ltd.
Project name: Sihayo
Location: Indonesia
Commodities: Gold
Highlight: Drilling results incl. 8m at 5.48g/t Au from 295m
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Sihayo Gold Limited (ASX:SIH – “Sihayo” or the “Company”) is pleased to announce the early results of follow-up drilling in progress on the Company’s Sihayo Starter Project (the “Project”) in North Sumatra, Republic of Indonesia. The current program is the second stage of a drilling program targeting extensions to known deeper high-grade gold mineralisation located below the planned Sihayo pit. Sihayo’s Executive Chairman, Colin Moorhead, commented on the latest results: “The latest results from the Sihayo underground drilling program continue to confirm the potential to expand the Mineral Resource below the current Sihayo pit. This is consistent with Sihayo’s exploration model for the deposit, which we believe is analogous to some of the breccia-hosted Carlin-type deposits in Nevada. Initial assessment of underground mining opportunities indicate that the deposit should be amenable to underground mining based on a drift and fill mining method. Combined with the work we are undertaking on incorporating caustic leaching into the project design, we believe significant value can be added to the Sihayo Starter Project.”
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