v Comprising three mining leases of area 10.1 ha
v Registered holder: MNI Pty Ltd with sole
Director Ian Freeland
v Mining Lease 1092 granted to 08/12/2022
v Mining lease 960 granted to 08/12/2022
v Gold Lease 3694 granted to 13/08/2019
v Leases were test drilled by 9 deep holes in
1983 and 1996
v Resource estimated at over 6 million grams of
gold, which is 6 tonnes of gold or 192 802 oz. This is based on mining to only
118m depths. The gold reefs extend below this level.
v Ore resource in main reef is 300 000 tonnes at
a Grade of 10 grams per tonne
v Ore resource in eastern and western reefs is
600 000 tonnes at a Grade of 5 grams per tonne
v At the current gold price this has value of
approximately $300 000 000 ($300 million)
ADDITIONAL BACKGROUND
INFORMATION:
v Mining Lease area= 453m x 223.5 m = 10.12455 ha
v Nine RC holes were drilled in 1996 and two deep
Diamond Drill holes were drilled in 1983
v Gold Resource: Based on test drilling results and
other information, there exists several parallel Gold Reefs running through the
Lease area, approximately parallel to the long axis of the Lease.
The Main Reef
has a contained gold content of 3 tonnes, based on an average grade of 10 grams
per tonne over a mining width of 2m. So 453 long by 2m wide x 10GPT (ore
density of 2.8) =25 368 grams per vertical metre. This equates to 1 tonne of
gold (1 million grams) each 39.42 metres of depth.
The
deepest mine drilling has exceeded 100m and high gold grades were intersected
at 75 m depth in this hole.
Nearby
gold mines have been worked to at least 120m depths. It is therefore estimated
that the main reef has a contained gold content of 3 tonnes, if worked to a
depth of 118.26m.
There
appears to be a reef to the east, as well as one to the west of the Main Reef.
Assuming the grade is half that of the Main Reef, then it is estimated that
another 3 tonnes of gold is contained within these two additional
reefs to the 118m depth. This indicates a total resource of 6 tonnes of gold to
the 118m level. The gold bearing reefs extend way below the 118m depth.
Current
gold value of six tonnes of gold is approximately $300 million.
Hary Setiawan
Action Mining Services Indonesia
( Oregon - Sydney - Surabaya )
QQ PT. Imperium Centrebiz (PTICB)
Pantai Mentari W3, Kenjeran 60000
Surabaya
Telp / Fax : 031.3896159
HP : 0878.52319.717 / 0857.3111.0739
Pin BB : 2A3C85AA
Email : pticbiz@gmail.com
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