Diligently Perform Exploration, J Resources Has 3 Million Ons Gold Reserves

Illustration (Photo: Doc. ANTARA)

JAKARTA - PT J Resources Asia Pacific Tbk (PSAB) managed to increase its reserves and gold resources very significantly.

Closing the end of 2023, PSAB managed to record gold reserves of almost 3 million ounces, an increase of six times compared to 2011 which was only 0.5 million ounces.

PSAB President Director Edi Permadi said this significant increase in reserves was supported by massive exploration activities carried out by the company for the last 10 years.

"Meanwhile, the growth of gold resources has doubled, from 3 million ounces of gold to 6 million ounces during the same period. This has made history for PSAB to become one of the few gold mining companies in the country that continues to actively explore," he said in a written statement quoted on Tuesday, February 5.

Edi added, the annual Reserve Replacement Ratio or additional reserves compared to the reserves produced also grow consistently every year.

Since 2011, the total gold reserves that have been mined are 2.4 million ounces, while gold production in the same period was 1.9 million ounces or 58 tons of gold.

We continue to maintain the position of the resource and reserve ratio with production levels. With existing resources and reserves, it is estimated that we can operate for the next 15 years. Currently, our gold production comes from Mining Bakan, Mining Penjom and in the future it will be added from Mining Doup," he explained.

Edi said that currently exploration activities are focused on two mines, namely the Bakan Mine managed by PT J Resources Bolaang Mongondow (PT JRBM) and the Doup Mine managed by PT Arafura Surya Alam (ASA).

In the first quarter of 2024, exploration activities in Mining Bakan will focus on mapping surface geology in several areas, including West Tapaale.

Meanwhile, drilling programs will be carried out at West Tapaale and Main Ridge to get additional resources.

Pit Tapagle di Tambang Bakan memiliki kandungan emas yang lemah dengan kadar yang terbilang tinggi, hampir mencapai 1 gram emas per ton bijih.

"This year, pit Tapagle is ready to make a positive contribution to the company's operational performance," continued Edi.

While in Mining Doup, exploration activities in the first quarter of this year will begin with continued geometalurgy, relogging and reinterpretation studies for the renewal of geological maps, alteracy and mineralization maps as well as resource model blocks.

"This activity aims to improve the accuracy of the data to ensure the achievement of gold mining and production targets at Mining Doup as planned," concluded Edi.