Reliance offers drilling update on Tanoyan Gold Project in Sulawesi

By Peni Pedriawan

TSX-listed Reliance Resources Ltd. announced the completion of 10 holes and 1,530.8 meters of diamond drilling on its 75 percent-owned Tanoyan gold project in Indonesia. This drilling is part of an ongoing, 10,000-meter Phase 2 program designed to further assess the resource potential of the large 6 km epithermal vein system at Tanoyan.

The recent results obtained on the Tanoyan property: TND 097: 12.6 meters at 2.7 g/t Au from 179.1 meter.

This intersection confirms that the gold mineralising system continues strongly to depth in the northern part of the Sondana Vein.

Reliance Resources CEO Gary Lewis said: "Tanoyan is our most advanced project and the continued progress on the Phase 2 drilling is important in our quest to turn the project into a producing asset. These recent results have advanced our understanding of the geology of the Tanoyan gold system as well as provided us with the deepest gold intersection on the property to date."

"Drilling will continue at Tanoyan and we look forward to updating investors as results come to hand and are interpreted by our geologists."

The Tanoyan Gold Project consists of an extensive system of auriferous quartz veins comprising four principal vein systems: Sondana, Ramai, Modupola/Talong and Lingkobungon.

These veins are predominantly orientated northeast and dip steeply or moderately to the northwest or southeast.

The company has a portfolio of five mineral tenements covering 68,000 acres on the islands of Sulawesi and Halmahera in East Indonesia.

Editing by Adianto P. Simamora