Volume 9 Edition 2 2012 - The ASIA Miner

Indonesia
Reliance prepares for phase two drilling at Tanoyan
The Tanoyan Gold Project of Reliance Resources is in North Sulawesi.
THE phase one drilling program at Reliance Resources’ Tanoyan
Gold Project in North Sulawesi has been completed with 88% of drill
holes intersecting reportable gold. There were 44 holes completed in
the program for 5041.8 metres with an updated NI 43-101 resource
estimate to be undertaken. The company is also preparing for a
10,000 metre, phase two drill program.
The Tanoyan project consists of five principal vein systems - Sondana,
Ramai, Talong, Modupola and Lingkobungon - which are predominantly
orientated northeast to southwest and dip steeply to the
northwest or southeast. Drilling to date has primarily focused on the
Sondana and Modupola veins.
Phase one drilling was designed to increase the size and improve the
classification of the existing resource of 2.22 million tonnes @ 1.3
grams/tonne for 91,100 ounces of contained gold. The company is confident
that the drilling has resulted in a material increase in the size of
the resource. It confirmed that gold mineralization along the Sondana
Vein occurs over a strike length of about 2km, extending from surface
to a minimum of 100 metres vertical depth over much of its length. The
vein is still open to the north and open down-dip over much of its length.
From surface indications, the Sondana Vein system extends an additional
1.1km north giving an overall strike potential of at least 3.1km.
This extension will be a priority target during the phase two program,
which is designed to further explore the potential of the Tanoyan epithermal
gold vein system and to form the basis of ongoing studies to
ascertain the commercial viability of a large gold mine.
Experience from drilling the Sondana North zone during phase one
has shown that deeper drilling intersected mineralization of higher
grade and greater widths than encountered in historical drill holes.
Also updated detailed mapping and surface sampling of the vein system
from phase one has advanced the company’s understanding of
structural controls of mineralization.
In addition to following up extensions at Sondana and additional
drilling at the Talong-Modupola and Lingkobungon vein systems,
phase two drilling will also target Ramai Vein, 700 metres west of Sondana.
This 1.7km-long vein has only been tested by six historical drill
holes, several of which intersected significant gold mineralization including
7 metres @ 5.3 grams/tonne, 2 metres @ 5.2 grams/tonne
and 16 metres @ 0.6 grams/tonne. The continuous nature of Ramai
Vein as seen on surface suggests it has similarities with Sondana Vein.
Reliance, which changed its name early this year from Golden Peaks
Resources, has a portfolio of five tenements on the islands of Sulawesi
and Halmahera in East Indonesia. It is conducting surface exploration
programs on the Palopo, Kapa Kapa and Roko gold projects.
Asia Resources begins trial iron sand production
THE iron sands project of Asia Resources
Holdings Limited in East Java has started trial
production. An initial 5000 tonnes of raw iron
sand has been mined and sent to the worksite
of Dampar for processing. As well as the
trial production, Asia Resources has also
started marketing activities targeting both
local and overseas customers for the sales of
its iron sand.
At the initial production stage, Asia Resources
will sell low concentrations of processed
iron sand but it is the ultimate aim of the
group to provide high-quality iron concentrates
at a low cost which will be exported to
medium-size steel–makers in China and
other regions in Asia.
Asia Resources also plans in the long run
to establish refinery plants near the mine for
filtering the iron sand in order to improve the
concentration and quality of the iron sand.
In mid-2010 Asia Resources Holdings acquired
a 55% equity interest in PT Dampar
Golden International, a company incorporated
in Indonesia and which has exclusive
rights to manage the site of an iron sands
project in East Java.
Asia Resources intends seeking opportunities
to further improve its production techniques
and transport logistics, and commence
the planning and installation of more equipment
at the mine in order to increase its production
capacity. The company emphasises
that the actual production of the mine may
deviate from the results of the trial production.
The actual production amount of the mine
may or may not be satisfactory.
Asia Resources Holdings is an investment
holding company that is listed on the Hong
Kong Stiock exchange. It operates in two
segments - manufacturing and sale of pharmaceutical
products operations, and iron ore
exploration and exploitation operations.
14 | ASIA Miner | March/April 2012