One Asia unveils new resource estimate for Awak Mas gold project
Thursday, May 11 2017 - 05:51 AM WIB
Australian firm One Asia Resources Limited announced Wednesday a new geological model and Mineral Resource Estimate (MRE) reported in accordance with the JORC Code (2012) guidelines for the Awak Mas Gold Project in South Sulawesi.
The company said in a statement that the total Indicated and Inferred Resource is reported at 38.4 Mt at 1.41 g/t Au for 1.74 Moz. One Asia owns 100 percent of the Awak Mas Gold Project through a 7th generation Contract of Work.
One Asia said the new geological model and MRE was completed by Cube Consulting Pty Ltd and followed re-logging, re-assaying and interpretation work completed by company geologists on the extensive core library of over 1,000 diamond drill holes stored site. CSA Global Pty Ltd (CSA) independently reviewed the geological and resource models.
Adrian Rollke, Managing Director of One Asia stated; ?The geological review and MRE form a solid foundation to advance the Awak Mas Gold Project to the next stage of development involving the preparation of a Definitive Feasibility Study. The Awak Mas gold field remains open along a 10-km strike with numerous exploration prospects identified with potential for resource expansion?.
MINERAL RESOURCE ESTIMATE
| Classification | Tonnes (Mt) | Au Grade (g/t) | Contained Gold (Moz) | |
| Awak Mas | Measured | - | - | - |
| Indicated | 25.8 | 1.45 | 1.20 | |
| Inferred | 8.9 | 1.14 | 0.33 | |
| Sub-total | 34.7 | 1.37 | 1.53 | |
| Salu Bulo | Measured | - | - | - |
| Indicated | 0.7 | 2.65 | 0.06 | |
| Inferred | 0.6 | 2.39 | 0.05 | |
| Sub-total | 1.4 | 2.53 | 0.11 | |
| Tarra | Measured | - | - | - |
| Indicated | - | - | - | |
| Inferred | 2.3 | 1.34 | 0.10 | |
| Sub-total | 2.3 | 1.34 | 0.10 | |
| Total | Indicated | 26.5 | 1.48 | 1.26 |
| Inferred | 11.9 | 1.25 | 0.48 | |
| Total | 38.4 | 1.41 | 1.74 |
Note:
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
Editing by Reiner Simanjuntak