JAKARTA - PT Merdeka Gold Resources Tbk (EMAS), a subsidiary of PT Merdeka Copper Gold Tbk (MDKA), officially started a diamond deep drilling program to a depth of 3,600 meters at the Pani Gold Mine.
This program aims to evaluate the potential for increasing mineral resources in Pani, which is currently recorded at 7 million ounces of gold.
The Pani Gold Mine, located in Marisa District, Pohuwato Regency, Gorontalo Province, Sulawesi, currently has an estimated mineral resource of 291.5 million tons with an average gold content of 0.75 g/t, equivalent to around 7.0 million ounces of gold.
The estimate is the basis for the development of a long-term gold mine. Mineral resources come from an exploration area of 135 hectares which is part of the total concession area of the Company of 14,670 hectares.
Based on previous exploration results, there are indications of mineralization beyond the limits of the previous drilling area, therefore, this 3,600-meter deep diamond drilling program is designed to test the potential for expanding the existing mineral resource base.
President Director of Merdeka Gold Resources Boyke Abidin conveyed through this latest drilling program, the Company will test the sustainability of gold mineralization in deeper areas.
He said the initial phase of the program includes six drilling points, with one rig unit already operating and an additional unit scheduled to start operating next month, and if initial results show positive prospects, the Company plans to expand the drilling program on a larger scale.
"As production begins at Pani, the Company is now in a more strategic position to continue testing the potential for mineralization in deeper areas through six well-designed drill points. This program also has the flexibility to be further developed if the drilling results show positive potential," he said in a statement, Friday, May 29.
In Kolokoa, the Company has completed the previously announced initial drilling program, which includes 54 drill holes with a total depth of 11,701.6 meters.
Within six months and at a cost of around 2.4 million US dollars, the Company managed to set the Kolokoa exploration target in the range of 20 million to 40 million tons with gold content of 0.3 g/t to 0.5 g/t, which indicates the potential for additional mineral resources, and currently, the Company is preparing the initial estimate of mineral resources which is targeted to be announced in the second quarter of 2026.
In addition, the continued exploration program will also include the start of drilling activities at Lone Pine in the second semester of 2026, as well as the implementation of geophysical surveys through Mobile Magnetotelluric and helicopter-based aerial magnetic surveys planned to take place in June or July 2026.
Further information and data will be provided after the results of the material drilling are available and have been reviewed in accordance with applicable reporting standards, including the JORC Code 2012 and KCMI 2017.
The English, Chinese, Japanese, Arabic, and French versions are automatically generated by the AI. So there may still be inaccuracies in translating, please always see Indonesian as our main language. (system supported by DigitalSiber.id)
