Gosowong was discovered from greenfield exploration in Halmahera island, with initial resource of 770 Koz Au in 1996. The resource is increasing to 7 Moz Au in 2020 and have been producing around 6 Moz Au with total average grade of 25 g/t Au.

The future of Gosowong Gold Mine is believed to increase by 5 years longer. The longer life of mine is based on the addition of reserves from the discovered new resources in PT Nusa Halmahera Minerals (NHM)’s Contract of Work area.

In 2021, NHM submitted its revised Feasibility Study document to the Directorate General of Minerba of KESDM. KESDM technically and economically approved the revised feasibility study document for NHM to follow up. The revised feasibility study is NHM’s professional confidence along with PT Antam of the addition of new reserves.

NHM has been aggressively exploring drilling targets at the Kencana and Toguraci mines. Drilling activities of other mineralization structures will be carried out at the end of the fourth quarter of 2021.

In addition to epithermal deposit targets, NHM also explores the potential of porphyry deposits as indicated to be in Toguraci area and other areas as part of the Company’s long-term plan. The two active mines in Gosowong; Kencana and Toguraci are still showing very good prospects towards the future.

The total estimated reserve according to the revised 2021 Feasibility Study document amounted to 860 thousand ounces or equivalent to 26.9 tons of gold. By referring to the target of NHM mining plan which is 180 thousand ounces per year, the addition of new resources extends Gosowong mine productive age more than 5 years. The resource and reserve figures are expected to change according to the results of the ongoing exploration activities.

Read the press release and news media reports on the additional Gosowong new reserves at:

Press Release: A Substantial Increase in Reserves in Gosowong Gold Mine