Construction licence for Pani project

PT J Resources Asia Pasifik subsidiary, PT Gorontalo Sejatera Mining, has received a construction licence for the Pani Gold Project in Gorontalo, Sulawesi, Indonesia. The licence was granted in December and enables the company to begin construction during the current quarter.

Pani is a multiple dome-related, epithermal low-sulphidation gold system. There are existing resources of 380,000 ounces at the Ilota-Nanasi deposit but five more targets have been identified from previous exploration, which included some drilling.

J Resources has an exploration target of 4-4.5 million ounces from the combined mineralised systems at Pani. It says that each target is comparable in size to Ilota-Nanasi based on compelling and integrated geology, geochemistry, and geophysics and drilling.

The first pilot production from the gravity feed operation is expected later in 2017.

J Resources is an Indonesia-based holding company listed on the Indonesian Stock Exchange that operates, mines, explores and invests in the gold mining sector via its operating subsidiaries.

Its primary gold producing assets are Bakan in North Sulawesi and Seruyung in North Kalimantan while the older, historical producers are North Lanut in North Sulawesi and Penjom in Malaysia. The company’s development projects are Pani and Doup while Bolangitang and Bulagidun are in the exploration phase.

Doup is in North Sulawesi and is considered a carbonate hosted strata-bound epithermal replacement deposit with challenging geology. Existing resources of 1.8 million ounces make the deposit a very attractive inventory but it will not be a simple mine to bring into development.