Tembang reserve revision puts SCG on course
11th Apr 2012
SYDNEY, Apr 11 – Sumatra Copper & Gold continues to work towards a 2013 start to production at its 100%-owned Tembang gold and silver project in southern Sumatra, Indonesia after announcing an ore reserve of over 500,000oz gold equivalent.
The JORC compliant reserve of 5.5Mt at 2.3g/t gold and 31.4g/t silver for 513,000oz Au equivalent comprises 5.1Mt @ 2g/t gold and 30.4g/t silver open-pittable and 0.4Mt @ 5.5g/t gold and 43.5g/t silver accessible by underground mining.
An additional 73,000oz gold and 890,000oz silver of Peripheral Sheeted Vein Indicated Resources outside the ore reserve provides further upside for the project.
MD Julian Ford says the robustness of the project and the 2.9g/t gold equivalent grade suggests relatively low cash production costs from the brownfield development. Exploration drilling will resume once the project is in production.
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