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Awak Mas gets maiden reserve

18th April 2018

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

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PERTH (miningweekly.com) – Junior gold developer Nusantara Resources has reported a maiden ore reserve of one-million ounces at its Awak Mas gold project, in Indonesia.

“Our maiden ore reserve represents a significant milestone for the company and now places Nusantara among an elite group of ASX-listed gold development companies,” said MD and CEO Mike Spreadborough.

“This ore reserve combined with the exploration potential of the project demonstrates the value of a proposed long-life, low-cost and standalone gold project at Awak Mas.”

The company is currently considering a 2.5-million-tonne-a-year operation at Awak Mas, with a definitive feasibility study due for delivery in July this year. The project is currently expected to cost between $150-million and $170-million to develop, with project commissioning expected to take some 27 months.

Edited by Creamer Media Reporter

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