Merdeka Gold Resources Determines the Initial Mineral Resources of Kolokoa

Photo: Special

JAKARTA - PT Merdeka Gold Resources Tbk (IDX: EMAS), a subsidiary of PT Merdeka Copper Gold Tbk (IDX: MDKA), announced the maiden Mineral Resource Estimate (MRE) for the Kolokoa Prospect, which is located approximately 500 meters from the Pani Gold Mine area, Marisa District, Pohuwato Regency, Gorontalo Province, Sulawesi.

Based on estimates as of June 1, 2026, Kolokoa has mineral resources of 42 million tons (Mt) with a grade of 0.33 g/t gold, equivalent to 445 thousand ounces of gold (koz). This determination adds to the overall inventory of mineral resources of the Pani Gold Mine from 7.0 million ounces to approximately 7.4 million ounces of gold (Moz), or an increase of approximately 6 percent, which at the same time strengthens the scale and growth potential of EMAS in the future.

"The initial mineral resource estimate of Kolokoa shows our ability to convert exploration success into mineral resources in a relatively short time. Within six months, we managed to establish an initial mineral resource containing 445 thousand ounces of gold. This result supports the Company's long-term production growth strategy, including plans to increase peak production to 500 thousand ounces per year," said Boyke Poerbaya Abidin, President Director of PT Merdeka Gold Resources Tbk, in his statement, Monday, June 8.

With its location close to the Pani Gold Mine operation, Kolokoa has the potential to utilize existing infrastructure and provide operational synergies. This deposit also provides additional flexibility in mine planning and ore grade optimization, so it can support a more efficient development path and potentially improve project economics.

The main program for determining the resources of Kolokoa was completed in a period of about six months, between November 2025 to April 2026. The program includes 54 diamond drilling holes totaling 11,701.6 meters, which are designed to understand the shape, continuity, and distribution of gold mineralization levels at Kolokoa, as well as provide an adequate level of geological confidence to support the initial mineral resource estimate.

Initial metallurgical testing through the bottle-roll method showed high gold recovery rates for oxide material, namely 87 percent to 94 percent. Meanwhile, the transition material recorded a recovery rate of 81 percent to 92 percent, which supports the suitability of Kolokoa with the current Pani Gold Mine operation.

The Kolokoa mineral resources are considered still open for further development, with gold mineralization still open in various directions, including north, south, and to deeper layers. EMAS will use the Kolokoa geological and mineral resource models to guide further drilling, metallurgical studies, and future mine planning studies.

The Company considers this result to be an important basis for evaluating the potential for the development of Kolokoa as part of the Pani Gold Mine system. EMAS stated that exploration activities would continue to be carried out in a disciplined and targeted manner to strengthen the mineral resource base of the Pani Gold Mine. The Company will provide further updates if there are exploration results and technical studies of materials in accordance with applicable reporting standards.