Reliance Resources has begun the drill program at the Tanoyan Gold property in Indonesia. Recently, an updated independent NI 43-101 report was reported by the company for the property.
The company has commenced a diamond drill program of 10,000 m that is specifically designed to additionally increase the mineral resources.
Lingkobungon, Ramai, Sondana and Modupola/Talong are four main vein systems that are included the Tanoyan Gold project. These vein systems are mainly orientated from the northeast to the southwest and sharply dip towards the southeast or northwest direction forming a wide auriferous quartz vein system. The veins are present in andesitic volcanics and have been outlined around 6 km of combined strike length. Initially, the drill program has focused on the Modupola and Sondana veins. The resource model at the property is exposed along strike and at depth. The phase II drilling will examine the Lingkobungon, Ramai and Talong Vein systems.
Scott Emerson, Reliance’s President stated that the company is conducting the phase II drill program at Tanoyan property. He felt that the work will continue from the phase I program and will result in additional discoveries and also raise the mineral resources. The company is continuing to conduct a pre-drilling exploration work at the company’s other projects, which include the high-level epithermal silver and gold prospects on the Halmahera Island.
A set of five mineral tenements are available for the company that encloses 68,000 ac on the Halmahera and Sulawesi islands in East Indonesia. Previous resource base and exploration capacity are provided by the projects. All five projects are located along strike from the operating gold mines or the discovered gold resources along with structural characteristics and same geology.
The company has targeted four Indonesian gold projects out of five and is now conducting drill program at the Tanoyan project and also performing surface exploration campaigns at the Palopo Gold project, the Roko Gold project and the Kapa Kapa Gold project.
Source: http://www.relianceresources.com/