FND Finders Res.

 
TIDMFND 
 
FINDERS RESOURCES LIMITED 
 
              Ojolali Reverse Circulation Drill Program Completion 
 
 
 
 
 
Finders Resources Limited (ASX/AIM: FND) is pleased to report that it expects to 
complete  its  current  reverse  circulation  drilling  program  at  the Ojolali 
gold-silver  project in Sumatra  by Friday 25(th) June.   The primary aim of the 
program  is to increase the resource of open-pittable oxide resources to a level 
sufficient to support a viable start-up mining operation at Ojolali. 
 
To  date  36 holes  totaling  3,550m have  been  completed,  with  a  final hole 
currently in progress. 
 
This work has focused on: 
 
      1.  Testing a previously unrecognized  north-easterly trending vein system 
within the known oxide gold/mineralisation at the Jambi prospect; and 
      2.  Testing for high grade supergene enriched silver mineralisation within 
the  top 100m of a 600m strike length  of the extensive Tambang gold-silver vein 
system. 
 
Visually,  the  drilling  has  supported  the  target geological concept in both 
cases, including a vein zone of approximately 20m true width at Tambang (Fig 1). 
 
The  significance  of  the  drilling  will  depend on establishing continuity of 
potential ore grades between holes, as such it is not planned to release results 
for  either system until  all assay results  are received, approximately 2 weeks 
for the Jambi drilling, and approximately 4 weeks for Tambang. 
 
For further information please contact 
 
 Finders Resources Ltd: 
 
 Russell Fountain   Non-Executive Chairman       +61 2 9211 8299 
 
 Chris Farmer       Managing Director            info@findersresources.com 
 
 Financial PR: 
 
 Nick Elwes         College Hill (in the UK)     +44 20 7457 2020 
 
 RFC Corporate Finance Ltd - Nomad: 
 
 Rob Adamson        Managing Director            +61 2 9250 0000 
 
 Stuart Laing       Executive Director           +61 8 9480 2500 
 
 FinnCap -  Finders' Broker for the AIM market: 
 
 Mathew Robinson    Corporate Finance Director   +44 20 7600 1658 
 
 Joe Lunn           Analyst                      +44 20 7600 1658 
 
 
 
For further information please visit our website www.findersresources.com. 
 
 
 
Background Information on Finders 
 
Finders,  listed on  AIM and  ASX, is  the operator  of the Wetar Copper Project 
(94%  and earning), and the Ojolali Gold-Silver Project (72% with option), both 
located in Indonesia. 
 
At the Wetar Project, as part of a definitive feasibility study, a demonstration 
SX-EW plant with 5t per day copper cathode capacity was commissioned in February 
2009 and  is permitted to process 100,000t of ore from the Kali Kuning deposit. 
The  demonstration  plant  is  producing  LME  Grade A copper cathode at planned 
rates.   The Company is targeting  commercial production of 20-25,000 tonnes per 
year cathode, subject to permitting and project funding. 
 
At  the Ojolali Project,  Finders controls what  it considers to  be a major new 
epithermal  gold  district,  and  has  been undertaking an extensive exploration 
program  comprising detailed drilling  to establish an  initial mining resource, 
supported  by extensive  surface geophysical  and geochemical  surveys.  Finders 
believe  that the  Ojolali project  has strong  potential to  generate cash flow 
through  open pit CIL/CIP  development of the  gold resource at  the Jambi Oxide 
gold deposit. 
 
Disclaimer 
 
This  announcement may or may  not contain certain "forward?looking statements". 
All  statements,  other  than  statements  of  historical  fact,  which  address 
activities, events or developments that Finders believes, expects or anticipates 
will or may occur in the future, are forward?looking statements. Forward?looking 
statements  are often, but  not always, identified  by the use  of words such as 
"seek",  "anticipate", "believe", "plan", "estimate", "targeting", "expect", and 
"intend"  and statements that an event or result "may", "will", "can", "should", 
"could",  or "might" occur  or be achieved  and other similar expressions. These 
forward?looking   statements   reflect   the   current   internal   projections, 
expectations  or beliefs of Finders based  on information currently available to 
Finders. 
 
Statements  in this document that are forward-looking and involve numerous risks 
and  uncertainties that  could cause  actual results  to differ  materially from 
expected  results are  based on  the Company's  current beliefs  and assumptions 
regarding  a large number of factors  affecting its business. Actual results may 
differ  materially from expected results. There can be no assurance that (i) the 
Company  has correctly measured  or identified all  of the factors affecting its 
business  or  the  extent  of  their  likely impact, (ii) the publicly available 
information  with respect  to these  factors on  which the Company's analysis is 
based  is complete or accurate, (iii) the  Company's analysis is correct or (iv) 
the  Company's  strategy,  which  is  based  in  part  on this analysis, will be 
successful.  Finders expressly disclaim  any obligation to  update or revise any 
such forward?looking statements. 
 
Competent Person Statement 
 
Geological information in this announcement and comments relating to exploration 
potential  and the  project in  general is  based on  information compiled by Dr 
Russell  Fountain, who  also accepts  responsibility for  the data  on which the 
resource  is based.  Dr  Fountain is a  Director of Finders  and a Fellow of the 
Australasian  Institute of Geoscientists. Dr  Fountain has sufficient experience 
that  is relevant to  the styles of  mineralisation and types  of deposits under 
consideration and to the activity that he is undertaking to qualify as Competent 
Person  as  defined  in  the  JORC  Code.  He  consents to the inclusion in this 
announcement  of the matters based on his information in the form and context in 
which they appear. 
 
 
 
 
 
 
[HUG#1427218] 
 
 
 
 
 
    Fig 1. Tambang Section 9480530N: http://hugin.info/138746/R/1427218/374888.doc 
 
 
 
This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. 
The owner of this announcement warrants that: 
(i) the releases contained herein are protected by copyright and other applicable laws; and 
(ii) they are solely responsible for the content, accuracy and originality of the information contained therein. 
All reproduction for further distribution is prohibited. 
 
Source: Finders Resources Limited via Thomson Reuters ONE 
 

Finders Resources (LSE:FND)
Historical Stock Chart
From Nov 2024 to Dec 2024

Finders Resources (LSE:FND)
Historical Stock Chart
From Dec 2023 to Dec 2024