During 2012, Archipelago drilled 81 holes for 10,691m at Jipang prospect, which is located approximately 3km south of the main Toka Tindung pit.
Among the results are 10m at 16.61 g/t gold, 17m at 3.81 g/t gold, and 4m at 13.21 g/t gold. “It is anticipated that these results will contribute to an updated Resource and Reserve Statement, which is expected to be released in Q1 2013,” Archipelago said Friday (Jan 18).
The company’s resource currently stood at 2.58M oz Au @ 1.53 g/t or 2.69M oz Au Equivalent. In 2012, Archipelago expects to produce between 135,000 and 145,000 gold equivalent ounces at a cash cost of between US$580 and US$640 per ounce. (bintang@theindonesiatoday.com)