Friday, December 04, 2009

High grade gold drilling in Ojolali project

Finders Resources Limited announced that a man-portable diamond drill has arrived on site at Ojolali project in Jambi and that first testing of high grade vein targets indicated by surface channel sampling will commence immediately.
The initial program will comprise approximately 1500m of diamond drilling, commencing with 6 holes for a total of 650m to test the Way Neki prospect. The balance of the drilling will be allocated to prioritized holes at the Jambi, C1, and Belida prospects.
Finders' exploration target at Ojolali is to increase oxide gold resources to +300,000 Oz of gold, to provide the basis for an initial low cost 30-50,000 ounce gold per year open pit mine, whilst also continuing to identify, prioritize, and test other gold and silver targets within the Ojolali epithermal district.
Finders controls 72% participating interest in the Ojolali gold-silver project. Finders is also the operator of Wetar copper project in eastern part of the country. The company is targeting commercial production of up to 25,000 tons per year of copper cathode next year, subject to final feasibility, permitting, and project funding. 

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