Jakarta –
Indonesia has again discovered a priceless hidden treasure. Collection treasure Indonesia recently grew after the discovery of the potential of Onto’s copper and gold resources in Hu’u District, Dompu Regency, West Nusa Tenggara.
This discovery is estimated to have a total Indicated mineral resource potential of 1.1 billion tonnes of copper and gold. Meanwhile, the total potential of Inferred mineral resources is also 1 billion tons of copper and gold.
Thus, if the total projected mineral resources have a potential of more than 2 billion tons. This number is much higher than the findings in December 2019.
Previously in December 2019, PT Sumbawa Timur Mining (STM) had announced that the total potential of Onto’s copper-gold resources reached 1.72 billion tons. Thus, the estimated mineral resource potential of Onto as of December 2021 increases by 0.4 billion tons or about 20% compared to December 2019.
“This latest estimate of mineral resource potential strengthens our belief that Onto’s mineral resources have the potential to be developed into a world-class copper mining operation,” said PT Sumbawa Timur Mining (STM) President Director Bede Evans in a press release, written Wednesday (3/03). 5/2022).
“This latest estimate has also provided optimism for STM shareholders and the entire STM team, but with caution in line with the development of the Hu’u Project to enter the stage of further project development,” he explained again.
It should be noted that the mineral resource potential of Onto is part of the Hu’u Project owned by STM which is the holder of the 7th generation Contract of Work (KK) signed by the Government of Indonesia on February 19, 1998, located in Hu’u District, Dompu and Bima Regencies, West Nusa Tenggara.
STM itself has been conducting exploration activities within the Hu’u Project CoW area since 2010. The estimated mineral resource potential announced today is the result of an analysis of 74 drilled holes, with a total depth of 74,130 meters drilled into the Onto mineral resource potential.
Drilling will continue in 2022 and beyond, to support further studies to determine the size, extent and potential characteristics of the Onto mineral resource and provide more complete data for use in various engineering studies of the Hu’u Project.
To date, in total, STM has completed 108 drill holes (115,591 meters total depth) within the CoW area (at Onto and other prospects) since exploration began in 2010.
(fdl / fdl)
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