Monday, December 21, 2009

Sihayo gold to commence production 2011-2012

Sihayo Gold Limited has received all results for the exploration drilling at the Sihayo 1 prospect in North Sumatra where the company found higher grade gold mineralization. The company plans to complete a definitive feasibility study (DFS) by the end of next year with the aim of moving into production late 2011 or early 2012.
The company told ASX this morning that further drilling will now be required to assess the higher grade portions of Sihayo and to test the potential extensions with the ultimate aim of adding to overall resource inventory.
Sihayo is the new name for Oropa Mining which controls the Pungkut contract of work in North Sumatra. Sihayo owns 75% interest in the project through PT Sorikmas Mining. There are currently three drilling rigs operating at Sihayo with the fourth and fifth rig due on site this month. 

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