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Additional Information
Market: AIM, ASX
Sector: General Mining
Epic: FND
News: Latest news
Web Site: Finders Resources
Other Articles: 10-03-201029-01-201023-12-2009

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Tuesday March 16, 11:29Mercator Gold to sell exclusive Copper Flat option to Canada's THEMAC Resources

The deal will allow the group to retain a substantial interest in the promising Mexican copper-gold-molybdenum-silver project without the associated costs.

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Wednesday March 17, 03:46Access Pharmaceuticals’ Cobalamin oral platform could offer new way to administer insulin

This morning, Access Pharma reported that two independent animal studies confirmed earlier findings that Cobalamin offers significant bioavailability of orally delivered insulin

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Monday March 15, 08:01China's growth boosting commodity prices

The latest economic figures from China have put pressure on the dollar and boosted a number of high-yielding currencies, including the Australian dollar and the South African rand.

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Finders Resources

Finders Resources

Finders Resources' operations include development of the wetar copper project, exploration for copper and gold in Indonesia and investment in resource-based companies. The Company has 93.97% interest in wetar copper project, Indonesia. The Company’s interests in the wetar project and the ojolali project are held through its subsidiaries, Banda Minerals Pty Ltd and Way Kanan Resources Pty Ltd. The Company operates in two geographical locations, being Australia and Indonesia. Its minerals business is based in Indonesia where it is developing a copper project on the island of Wetar and conducting mineral exploration on Wetar Island and Sumatra.

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Friday, December 04, 2009

Finders Resources to commence diamond drill testing on high grade gold vein targets at Ojolali

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Finders Resources (ASX: FND) will commence the first pass drill testing of high grade vein targets indicated by surface channel sampling at Ojolali Gold-Silver Project, following the arrival of a man-portable diamond drill. 

The initial program will comprise approximately 1500m of diamond drilling, commencing with 6 holes for a total of 650m to test the Way Neki prospect.

The balance of the drilling will be allocated to prioritized holes at the Jambi, C1 and Belida prospects.

The overall diamond drilling program is expected to take about three months to complete, with initial results available around the end of January.

An additional program of around 5,000m of reverse circulation drilling, focused on extensions to the Jambi oxide deposit and Tambang vein supergene zone is also planned pending sourcing of a suitable drilling rig.

Finders’ exploration target at Ojolali is to increase oxide gold resources to +300,000 Oz Au, to provide the basis for an initial low cost 30-50,000 Oz gold per year open pit mine, whilst also continuing to identify, prioritise and test other gold and silver targets within the Ojolali epithermal district.

Previous regional exploration by Finders, using both soil geochemistry and ground geophysics has identified numerous targets with excellent potential for the discovery of additional resources.

Finders intends to increase  the oxide gold resource at Ojolali to +300,000 ounces of gold. The objective is to provide the basis for a low cost 30-50,000 ounce per year open pit mine based on the Jambi oxide resource. 

Meanwhile, at Way Neki, mapping and trenching following up local miner workings has identified a significant zone of relatively well defined quartz veins, with relatively narrow alteration selvages, hosted by more massive basement basaltic host rocks than the strongly altered andesitic host for Jambi mineralization.

The veins occur in an area at least 900m north-south by 800m east-west, which may extend northwards to link up with the previously drilled Batu Kuning prospect. The target at Way Neki is high grade quartz vein hosted gold-silver mineralization similar to that being developed by Kingsrose Mining at the Way Linggo prospect about 30 km south of Ojolali.

Channel sampling results received to date are highly encouraging, with highlights including 2m @ 50 g/t Au, 2m @ 38 g/t Au, 2m at 8 g/t Au, 1m at 11.9 g/t Au, 2m @ 11.7 g/t Au, 1m @ 23 g/t Au, 1m @ 6.25 g/t Au, 1.1m @ 11.1 g/t Au, 1m at 12.4 g/t Au and 1m @ 6.25 g/t Au, 303 g/t Ag.

 

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