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Wednesday, 27 July 2011

Hong Kong Company Finds Gold in Sumatra


Source : http://en.vivanews.com/news/read/236140-hong-kong-company-finds-gold-in-sumatra

Hong Kong Company Finds Gold in Sumatra

The potential of silver found by G-Resources reached 2.11 million ounces.

Rabu, 27 Juli 2011, 11:07 WIB
Nur Farida Ahniar, Iwan Kurniawan
VIVAnews – Hong Kong-based mining company G-Resources Group Limited found new gold and silver resources in Martabe project, North Sumatra. The area has potential of containing 233,000 ounces or equivalent to 6,605 kg of gold.

In the mean time, the potential of silver found by G-Resources reached 2.11 million ounces or equivalent to 59,817.49 kg of gold. These resources were found in Purnama Timur zone, in Martabe Project, North Sumatra.

Purnama Timur is a newly defined zone, located in the east of Pit 1/Purnama, and has potentials for segregated open system or expanding Pit 1/Purnama.

“The total of mineral resources as of July 25, 2011 was estimated to be 6.73 million ounces of gold and 68.31 million ounces of silver,” said G-Resources CEO Peter Albert.

According to him, it was estimated that the mineral resources in Purnama Timur are among the many other resources in which production increases are expected in 2011. The finding was followed up by a core drilling program which was aimed at limiting the deposit in Purnama Timur, Horas and Tor Uluala.

G-Resources, said Albert, seriously explores the area around Martabe and the whole area included in the company's concession at an area of 1,639 square km.

“The focus of the next mining is the new targets near Martabe,” he said.

These new resources emphasize the Martabe project as one of the world’s best undeveloped gold minings.

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