Awak Mas steadily growing

NUSANTARA Resources has announced a 12% increase to the gold resource at its Awak Mas project in Indonesia.

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The first 25 holes of a 67-hole program increased the Awak Mas resource 39 million tonnes at 1.37 grams per tonne gold for 1.72 million ounces of gold, using a 0.5gpt cut-off and constrained by a US$1400 an ounce pit shell.

Using a $1200/oz pit optimisation shell, the resource is still 1.56Moz.

When including the Sala Bulo and Tarra deposits, the total project resources is now 1.93Moz at 1.4gpt gold.

Nusantara flagged further upgrades across the Salu Bulo, Awak Mas Lower and Awak Mas Extension target areas.

Around 85% of the Awak Mas deposit is in the indicated category, while 80% of the global resource is indicated and available for inclusion in an upcoming reserve estim...