Proactiveinvestors recommends

Additional Information

Market:	ASX
Sector:	General Mining
EPIC:	FND
Latest Price:	0.44 (3.53% )
52-week High:	0.51
52-week Low:	0.34
Market Cap:	122.99M

1 year chart

1 day chart

Finders Resources Limited Full Finders Resources Limited profile here

Finders Resources (ASX:FND) operations include development of the Wetar Copper Project and the Ojolali Gold/Silver project. The Company has 95% interest in the Wetar Copper Project, Indonesia which has completed its demonstration phase and is moving into the construction phase of its 250,000 tpa SX-EW operation.

Ojolali is a highly promising gold/silver prospect in South Sumatra.

Finders Resources could be on crest of large epithermal gold system in Sumatra project

Thursday, September 09, 2010

Finders Resources (ASX/ASX: FND) has identified a high grade gold-rich shoot from its 72% owned Ojolali gold-silver project in Sumatra, after recently completing the 18 hole 1717m program of infill RC drilling at Tambang.

Based on the results to date, the interpretation is that Finders could be at the top of a larger epithermal system - which could suggest large potential for additional discoveries at depth.

The drilling program was designed to test for near surface mineralization, with potential to provide additional feed for a start up mining operation based on the Jambi oxide gold resource.

Highlights include the new high grade gold-rich shoot that is completely open at depth with an intersection of 7m grading 5.62 g/t Au and 70 g/t Ag from 55m depth within a broader intercept of 24m grading 1.84 g/t Au and 38 g/t Ag and 0.56% Zn from 49m depth in TBGR 29.

Further high grade shallow silver intersections, including:
- 13m grading 184 g/t Ag and 0.41 g/t Au from 23m in TBGR 21;
- 20m grading 128 g/t Ag and 0.39 g/t Au from 52m depth in TBGR19; and
- 1m grading 658 g/t Ag and 0.52 g/t Au from 30m depth in TBGR 20.

Russell Fountain, chairman, said the results have demonstrated the ability to expand the inventory of near-surface oxide mineralization at Ojolali, and continue to emphasise the discovery potential of the project.

“This program tested approximately 600m of the known +2km strike length of the Tambang vein system."

"The results have highlighted the continuity of wide zones of near surface gold-silver mineralization, and importantly demonstrated previously unrecognized potential for gold rich shoots within the system, as evidenced by the intersections in TBGR25 and 29, which are completely open at depth."

“Based on these Tambang results and the previously announced Jambi drilling, we are now instituting a program of metallurgical test-work, including bottle roll testing, as a basis for a scoping study for development of a leaching operation based on both prospects.”

The Tambang mineralization comprises a west dipping fault controlled swarm of quartz and manganese veins, hosted mainly in a siltstone unit separating basement basalts from a locally tuffaceous andesitic rock sequence.

No investment advice

The Company is a publisher and is not registered with or authorised by the Financial Services Authority (FSA). You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.