A lawsuit against Canadian-based mineral explorer East Asia Minerals has been revoked by PT Atlas Mineral Exploration (PTAME) and officially withdrawn. The suit was filed in the Central Jakarta District Court in December last year, limiting activities at its 85%-owned Miwah project on Indonesia’s Aceh province.
PTAME filed the action after East Asia and three other companies couldn’t agree on the terms of its acquisition. East Asia chairman Edward Rochette says the company vigorously defended the claim.
The Miwah project is a high level, high sulphidation epithermal gold prospect within three contiguous IUP mining licences which the company is party to through cooperation agreements with its partners. It has an inferred resource of 103.9 million tonnes averaging 0.94 grams/tonne gold and 2.68 grams/tonne silver for 3.14 million ounces of gold and 8.95 million ounces of silver in near and at surface mineralization.
Miwah is within a designated Indonesian government forestry area and therefore East Asia needs to obtain a two year forestry permit to conduct activities that will disturb the natural ecosystem. Until the permit is issued, East Asia and its partners can conduct only grab or channel sampling and must not disturb the underlying forest.
The government has also imposed a forest moratorium designating primary forests in the Aceh province are to be protected, however the company is working to have the Miwah project area reclassified so it is not included in the protected category.
East Asia Minerals has also requested to have the project area removed from the ‘Protection Forest’ zone which would not permit an open-cut operation to commence.
The company is continuing to work towards the completion of its Indonesian standard feasibility study requirement under its IUP by November. East Asia owns a 70-85% interest in three advanced gold and copper-gold properties in Aceh, Sumatra and Sangihe Island, North Sulawesi.
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