Archi Discovers High-Grade Gold Reserves in Toka Tindung West Corridor

Summary

PT Archi Indonesia Tbk explored in the West Corridor of the Toka Tindung Gold Mine to increase its reserves. ARCI stock-coded miner stated that the entire exploration program at Bima-Arjuna gold reserve in the West Corridor had discovered high-grade gold reserves. "Our current priority is to convert the high-grade yield into resources and reserves for our future mining plans," Archi President Director and Chief Executive Officer (CEO) Ken Crichton said on Monday.

For this reason, Archi accelerated the production phase in the Bima-Arjuna gold reserve. Other exploration programs have also identified several sizeable high-grade gold targets apart from the Bima-Arjuna gold reserve site, in which ARCI will drill this year. "Our geological team has discovered potentials in the West Corridor, as sizeable as the Toka Tindung mine East Corridor. More than 6 million ounces of gold have been discovered there [East Corridor], and 2 million ounces have been mined since started production in 2011," Ken said.

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