- Sihayo Gold (SIH) has received a new batch of results from drilling at the Sihayo-2 prospect in Indonesia
- The company has drilled 20 out of 30 planned holes to test for more gold resources and provide geotechnical data for mine planning
- Executive Chairman Colin Moorhead says the latest results support the presence of near-surface mineralisation close to the existing project resource
- Drilling is ongoing and more results are expected in the next few weeks
- Company shares ended the day 10 per cent in the green to close at 1.1 cents
Sihayo Gold (SIH) has announced that the latest results from its Sihayo-2 prospect are in line with its expectations.
The company began a 30-hole drilling program at the Indonesian prospect in March to test for additional gold resources and provide geotechnical data for mine planning.
So far, 20 holes have been drilled and assays have now been reported for 12 of these.
Latest results include 19 metres at 0.45 grams of gold per tonne (g/t) from 54 metres, nine metres at 0.45g/t gold from four metres, 14 metres at 0.56g/t gold from 16 metres, three metres at 0.79g/t gold from four metres and five metres at 1.17g/t gold from 25 metres.
These build on previously reported results which include 8.4 metres at 2.56 g/t gold from 47 metres and 9.8 metres at 1.77 g/t gold from 77 metres.
Executive Chairman Colin Moorhead commented on the drill results.
“The results are in-line with our aims for the Sihayo-2 exploration program and support the presence of near-surface mineralisation located close to the existing Sihayo Starter Project Resource.”
Importantly, the assays continue to support the potential for additional low strip ratio gold mineralisation with favourable metallurgical recoveries near the proposed plant site.
At this stage, mineralisation at Sihayo-2 exists for around 250 metres of strike and has up to a 10-metre to 15-metre thickness on the western side of the prospect.
The company expects to receive more results in the next few weeks while drilling continues. In addition, geotechnical and hydrogeological drilling is in progress to support the optimisation and design work for the Sihayo Starter Project.
Company shares ended the day 10 per cent in the green to close at 1.1 cents.