Finders Resources has engaged corporate brokers Octa Phillip to evaluate strategic options for its Ojolali gold-silver project on southern Sumatra’s Lampung province. The company believes the considerable value of Ojolali isn’t currently reflected in the Finders share price and wants to map out methods to accelerate the project’s development.
Ojolali is an advanced gold-silver prospect covering a 13sqkm system hosting numerous mineralization shoots within the highly productive Sumatran gold belt which takes in the multi-million ounce Martabe, Lebong Donok, Pongkor and Way Linggo deposits.
The project has a defined oxide gold resource of 175,000 ounces at the Jambi prospect, while high-grade drill intercepts have been confirmed at Tambang. Finders says strong surface showings of gold and silver along its length suggest potential of at least 1 million ounces of gold.
Only a few holes have been drilled at the site to a depth greater than 100 metres and the company says epithermal systems commonly persist to depths of 500 metres which leaves significant potential for further discoveries at depth.
Finders’ managing director Chris Farmer says the Board is hopeful of making an announcement sometime in the next quarter when an appropriate course of action has been approved. Finders also operates the Wetar copper project in Indonesia.
Octa Phillip is one of Australia’s largest independent corporate advisory and broking companies to provide corporate finance, research and funds management from its offices across Australia.
INDONESIA