New Findings: Pani Gold Resources Increase to 7.4 Million Ounces

PT Merdeka Gold Resources Tbk (EMAS) has revealed its maiden Mineral Resource Estimate for the Kolokoa Prospect in Gorontalo, Sulawesi. This discovery has increased the total gold mineral resources at the Pani Gold Mine from 7 million ounces to 7.4 million ounces of gold.

President Director of EMAS, Boyke Poerbaya Abidin, explained that the resource determination at Kolokoa is the result of the company’s exploration conversion activities. “The maiden mineral resource estimate for Kolokoa demonstrates our capability to convert exploration success into mineral resources within a relatively short timeframe. Within six months, we have successfully established a maiden mineral resource containing 445,000 ounces of gold,” he stated in a written report on Monday.

Based on estimates as of 1 June 2026, the Kolokoa Prospect is recorded to have mineral resources of 42 million tonnes of ore with a gold grade of 0.33 grams per tonne. The new reserve location is situated approximately 500 metres from the main area of the Pani Gold Mine, making it strategically positioned to optimise existing operational infrastructure.

“These results support the Company’s long-term production growth strategy, including plans to increase peak production to 500,000 ounces per year,” he explained.

Furthermore, the company completed a drilling programme at Kolokoa over a six-month period, spanning from November 2025 to April 2026. The programme included the excavation of 54 diamond drill holes totalling 11,701.6 metres to ensure the shape and continuity of gold mineralisation in the area.

The subsidiary of PT Merdeka Copper Gold Tbk (MDKA) has also conducted initial metallurgical testing, which yielded high gold recovery rates. For oxide material, recovery rates were recorded between 87% and 94%, while transition material ranged from 81% to 92%, confirming the suitability of the Kolokoa reserves with the current processing system.

Moving forward, EMAS will utilise the geological and mineral resource models of Kolokoa to guide further drilling, metallurgical studies, and future mine planning assessments.