Heaptalk, Jakarta — Archi, Indonesia’s behemoth pure-play gold mining company, announced that the exploration programs which the Company constantly has intensified bears fruits. To date, referred to the Company’s press release (11/10), the exploration activity has generated great addition of high-grade ore reserves. From several exploration areas, Western Corridor contributed the most striking result in the latest gold mining resource findings.
Kicking off this year, the Firm established in 2010 has set the focus to increase ore reserve and to achieve the goal, it has amplified the exploration program. In running the program, the Firm has set two objectives, comprise of enhancing the entire gold resources – the current was 3.9 million ounces of Ore Reserved based on JORC’ 2020 Report– and upgrading the high-grade mineral resources from inferred to the indicated category in order to increase the ore reserves.
Eventually, the program was well-executed, and the objectives were achieved. The major attainment was delivered from the exploration program carried out in the West Corridor area, namely in Bima – Arjuna gold reserve location.
During the exploration process, which was conducted from December 2020 to August 2021, a total of five diamond drill rigs and one reserve circulation drill rig were employed. From the activities, the Firm has created the incremental 84 drilling holes with a total of 25,000 meters’ depth approximately. The hole, further, produced a high-grade gold intersection.
Appreciating the achievement, President Director and CEO of Archi Ken Crichton explained, “We have seen some promising progress from our recent drilling results at the Bima-Arjuna gold deposits in the Western Corridor area, some of which are really high gold grades. These recent results further build our confidence that the Toka Tindung gold mine is one of the best gold mine assets in Indonesia, with significant exploration upside. Our priority now is to convert these high-grade results into resources and reserves for our future mine plans.”
In the preparation of Bima-Arjuna to enter the production stage, the Firm bolsters the feasibility study, which was performed by building offices near the site and putting 250 workers consisting of experts and local people assigned to drill as well as to conduct the research.
Additionally, the Firm’s exploration program also discovers another potential location that is very close to Bima-Arjuna. The new resource area is poised to be drilled during the second semester this year. Based on Archi’s geologist team, the western corridor potentially has the same size as Toka Tindung Mine – the existing mining location contained 6 million ounces of gold and has donated over 2 million ounces mined since 2011.
Archi plans to keep accelerating its exploration activities, targeting Near-mine, Western Corridor, and Greenfield projects, which are expected to provide between 5.3 – 13.0 million ounces of additional new gold Ore Reserves based on the study conducted by an industry expert, Energy, and Mineral Technology International
