Finders Resources has described results received from pre-development activities at the Lerokis deposit of the Wetar Copper Project in Indonesia as outstanding. The high-grade results are from the final reverse circulation (RC) holes of an exploration program drilled into areas of complexity along the margins of Zone 5 at Lerokis.
A 60-hole program of RC and diamond drilling for a total of 2991 metres was completed into the more complex zones of the Zone 5 and Zone 1S areas at Lerokis to better define pre-development mineralised envelopes for mine design purposes.
It was also used to obtain additional samples for metallurgical column leach testing, to ‘sterilise’ areas for infrastructure locations and to provide additional support to final open pit wall design assumptions.
Finders has recently received the results from the final 33 holes of the exploration part of the program. The RC holes purposely targeted the resolution of areas of geometric complexity on the flanks of, and adjacent to, bounding or defining structures of the Lerokis massive sulphide deposit and previously untested areas for the location of mine infrastructure.
Significant Zone 5 results include: 11 metres from 8 metres @ 5.33% copper, 0.81 g/t gold, 53.1 g/t silver, 0.32% zinc and 0.08% lead; 37 metres from 4 metres @ 8.93% copper, 0.97 g/t gold, 45 g/t silver, 0.07% zinc and 0.11% lead; 30 metres from 0 metres @ 1.40% copper, 1.23 g/t gold, 53 g/t silver, 0.17% zinc and 0.47% lead; 20 metres from 13 metres @ 7.85% copper, 0.62 g/t gold, 29.5g/t silver, 0.15% zinc and 0.05% lead; and 65.7 metres from 2.9 metres @ 1.84% copper, 0.50 g/t gold, 15.3g/t silver, 0.52% zinc and 0.11% lead.
A significant result from Zone 1S was 32.4 metres from 11.4 metres @ 5.25% copper, 1.16 g/t gold, 91.8 g/t silver, 4.11% zinc and 0.99% lead.
All assay data has now been received from the drill program and there is improved confidence that the results will incrementally increase the volume of mineralised material and correspondingly increase the contained copper metal in the previously outlined higher grade zones. This will be confirmed and quantified in the coming month as the pre-mining mineral resource estimate for Lerokis is finalised.
Finders’ managing director Barry Cahill said, “These outstanding final results from the Lerokis pre-development drilling program have provided a much higher level of confidence in the interpretation of the massive sulphide mineralisation in advance of an update to the pre-mining mineral resource and ore reserve estimate for the company’s second open pit mine at Wetar.
“The updated estimate is the first re-work of the deposit since 2009 and we have improved our confidence in an increase in the contained copper metal above that previously reported.”