Toka Tindung gold reserves

Toka Tindung gold reserves

SINGAPORE (Reuter): Aurora Gold Ltd said yesterday that gold reserves at its Toka Tindung project in north Sulawesi, Indonesia were more than one million ounces.

Sandy Moyle, general manager for exploration, said in a report with three other Aurora officials at a gold conference in Singapore that the company was finalizing a feasibility study on the four deposits making up the Toka Tindung project.

"Combined, these deposits have estimated mineral resources in excess of one million oz gold at an average grade of 2.8 gm/ ton," the report said.

"Local prospectors had previously thought the veins were barren because of the fine nature of the gold. No previous record of gold mineralization is known in the district," it added.

Last month, Aurora raised the estimate of gold reserves at Toka Tindung by 50 percent to 612,000 ounces.