Sihayo, Police sign MoU on security affairs
Wednesday, August 22 2012 - 09:20 AM WIB
Australian-listed firm Sihayo Gold Limited has signed a Memorandum of Understanding with Indonesian Police to help ensure safety of its operation on its Sihayo Pungkut Gold Project in North Sumatra.
?The company and the police will work together to ensure all stakeholder are fully briefed as to the legal rights and obligations of the company and the position of other groups that endeavor to operate within the Contract of Work (?CoW?) are under conflicting right,? the company said.
The CoW specifically addresses the need for such a joint security operation to occur when there exists conflicting rights within the CoW area and encourages all parties to openly and transparently discuss and resolve outstanding issues according to the laws and regulations of Indonesia.
?The shorter term objective besides continuing the information dissemination to all stakeholders is to ensure that no local illegal mining takes place within at least a 500 meter boundary of the company?s operational activities. The longer term objective is clearly focused on ensuring there are no conflicting operations within the company?s CoW area and specifically within the area designated for the construction and operations of the Sihayo Pungkut Gold Project.?
Sihayo also announced the final stage of infill drilling for the Sambung JORC Compliant Resource having resumed on 13th August.
The current Sambung JORC Compliant Resource stand at @ 2.2 g/t Au containing 125,400 ounces, comprising 1.0 Mt @ 2.3 g/t Au for 72,500 ounces in the indicated category and 0.8 Mt @ 2.1 g/t Au for 52,900 ounces in the inferred category.
The final stage of infill diamond drilling is aimed at converting the remaining inferred material into the higher indicated category.
There are six holes to complete on this stage, therefore, resource extension drilling will focus on a number of possible extension areas commencing with areas to the immediate southeast of the current resource boundary.
Editing by Adianto P. Simamora