Indonesia-focused gold explorer, Sihayo Gold has produced some eye-catching drilling results including a standout strike that returned 2.1 metres going 74 grams per tonne gold and 119 g/t silver from 112.8m downhole in North Sumatra.
Alongside some significant gold grades, Sihayo also reported widespread silver mineralisation with the company snaring a 9.3m hit running 1.77 g/t gold and 25 g/t silver from 99m, a 3.3m snippet going 2.92 g/t gold and 41 g/t silver from 151.5m and 7m length grading 1.34 g/t gold and 26 g/t silver from 137m.
The company’s drilling results continue to extend the Sihorbo South target in the Hutabargot Julu prospect of its overarching PT Sorikmas Mining Contract of Work, or “CoW”. The expansive CoW also contains the company’s namesake Starter project, however, Sihayo is finding the rest of the area to be highly prospective and underexplored.
Interestingly, the Sihayo Starter project is centred around two other deposits in the north of the CoW combining for a total resource of 27.7 million tonnes of ore grading 1.8 g/t, containing a total of 1.56 million ounces of gold.
Sihayo says the Sihorbo South target of the Hutabargot Julu prospect is shaping up to be its first discovery outside the already established sediment-hosted Sihayo Mineral Resource.
According to the company, the results demonstrate that Sihorbo South is an intermediate-sulphidation epithermal vein and disseminated stockwork deposit containing significant grades of gold and silver.
Sihorbo South is Sihayo’s first epithermal vein deposit in the Hutabargot Julu prospect and importantly the grades appear to be significantly higher than the grades in the north.
The company is targeting a maiden mineral resource estimate for release early in the coming quarter. The resource will then be assessed at a concept study level for incorporation into the Sihayo Starter project.
Notably, the Sihorbo South target is just six kilometres southeast of the proposed Sihayo Starter project site.
Importantly, the higher grades and potential additional feed for the Sihayo Starter project could boost the proposed venture’s bottom line.
The explorer says drilling is ongoing and expects further results in the coming weeks.
A total of 1372m over seven holes have been completed since the start of 2022 with the next phase of drilling to include additional infill and deeper holes.
These latest high-grade gold results with lashings of silver could prove to be a significant moment in the life of Sihayo’s exploration efforts in Indonesia. The company is now looking to double down on its latest success by combining its Starter project and the new discovery.
Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au
