J Resources Asia Pasifik (PSAB) has uncovered a promising gold prospect within the operational area of its subsidiary, PT J Resources Bolaang Mongondow (JRBM), in North Sulawesi.
Established in 2002, PT J Resources Asia Pasifik manages and invests in the gold mining business in the Australasian region, through its subsidiaries.
The discovery stems from a review of regional data and initial field exploration conducted within JRBM’s Contract of Work area during 2023.
The company said that this discovery holds significant promise and presents a substantial opportunity to advance into detailed exploration phases leading up to the development of a new mining area or pit.
With the current resources at the Bakan mine, which began operations in 2013, having only a remaining mine life of 4 years, this new gold prospect is expected to extend the Bakan mine’s lifespan or even be developed into a new mining venture.
“The company hopes that this new discovery will add value to the company, shareholders, and stakeholders,” J Resources said in a press statement on Friday, April 19, 2024.
J Resources explained that the initial exploration activities included geological mapping, surface sampling, preliminary geophysical surveys, ASD (analytical spectral device) studies, metallurgical sampling, initial drone surveys, and preliminary modeling, all conducted in 2023.
These initial exploration activities have been completed within areas granted with Borrow-Use Permits for exploration activities by the Ministry of Environment and Forestry (KLHK) in 2023.
From the geological mapping and surface sampling results in 2023, a significant area of gold mineralization has been identified. Additionally, field mapping and surface sample analysis indicate a mineralized area of over 1.4 km in length.
Several surface samples revealed gold mineralization, with one channel sample showing a 27-meter length with an average grade of 1.3 grams per ton (g/t) of gold.
Similarly, locations 3 and 5 exhibited intense gold mineralization, with lengths of 10 meters averaging 1.78 g/t and 5 meters averaging 2.64 g/t gold, respectively.
The review of initial drilling results also indicated favorable lateral and vertical distribution of gold mineralization. A total of 5 drill holes with a combined length of 527.5 meters were completed during the initial exploration drilling phase.
These drill results demonstrated a significant lateral distribution of gold mineralization and relatively high average gold grades. Drill hole number 2 revealed a 14-meter mineralization length with an average gold grade of 2.25 g/t.
Drill hole number 4 yielded remarkably high grades, with a mineralization length of 11.1 meters averaging 12.42 g/t gold. Drill hole number 5 also showed promising results, with a 6.05-meter length averaging 2.07 g/t gold.
Resource modeling and initial metallurgical tests have also been conducted, showing highly positive results, including a sizable exploration target, leaching extraction rates of over 88 percent, and oxide-type gold with QLT (quick leach test) values exceeding 80 percent.
These initial data indicate a highly promising prospect for development into a mining operation.
