Operator Mispec Resources (MPE-M) has calculated a resource for three closely spaced zones on its Jampang gold property in West Java, Indonesia.
The combined resource for the Lipi, Pasir Keusik and Puteran-Simpang zones is pegged at 8 million tonnes grading 2.4 grams gold per tonne. The calculation is based on a cutoff grade of 0.5 gram gold and 249 drill holes totalling 32,000 metres.
In addition to gold, the zones contain copper, lead and zinc. Mispec is resampling the drill core to asses each zone for base metal potential.
The three zones are in the northern part of 205-sq.-km Jampang property, in an area known as Cigaru. The area covers 1 sq. km and contains seven other targets characterized by geophysical signatures similar to those underlying the three zones.
Under a revised deal, Mispec can earn a 90% interest in the property from owner Hunamas Putra Interbuana, a private Indonesian company. The deal also includes the separate Ponkgor gold property, about 50 km to the north, in which Mispec can earn 85%.
To earn its interest, Mispec must issue 20 million shares to Hunamas. The deal, which has yet to be approved by regulators and shareholders, also allows the company to form separate joint ventures.
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