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20230705_MDKA_Laporan Bulanan Aktivitas Eksplorasi_31337323_lamp2.pdf
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Page 1
PT Merdeka Copper Gold Tbk
Treasury Tower Lantai 67 – 68, District 8 SCBD Lot 28
Jl. Jend Sudirman Kav 52-53, Senayan, Kebayoran Baru
Jakarta Selatan 12190, DKI Jakarta, Indonesia
Phone: +62 21 3952 5580
Fax: +62 21 3952 5589
www.merdekacoppergold.com
Exploration Report – Quarter 2 2023
Summary: PT Merdeka Copper Gold Tbk (Merdeka) continues exploration activities at 3 locations in
Indonesia (Tujuh Bukit in East Java, Wetar Island in Southwest Maluku and Pani in Gorontalo), as shown
in Figure 1 below. In Tujuh Bukit the focus is on a copper-gold resource and gold-silver resources, in Wetar
the focus is on copper resources and in Pani the company is exploring a gold resource.
The total spending on exploration in Indonesia by Merdeka in Quarter 2 2023 is approximately Rp341.4
billion.
Figure 1: Merdeka Exploration Project Locations
Copper and Gold: Tujuh Bukit Project
A. Expenditure:
The total expenditure for exploration-related activities for the Tujuh Bukit Copper Project in Quarter
2 2023 is Rp162.7 billion consisting of decline maintenance, underground resource definition drilling,
and associated test work.
B. Area:
Tujuh Bukit copper and gold resource, Banyuwangi, East Java.
C. Exploration Party:
Page 2
PT Merdeka Copper Gold Tbk
Treasury Tower Lantai 67 – 68, District 8 SCBD Lot 28
Jl. Jend Sudirman Kav 52-53, Senayan, Kebayoran Baru
Jakarta Selatan 12190, DKI Jakarta, Indonesia
Phone: +62 21 3952 5580
Fax: +62 21 3952 5589
www.merdekacoppergold.com
All work was completed through a contracting agreement between Merdeka and PT Merdeka Mining
Services.
D. Assessment Method:
Drilling from underground and surface with associated test work.
E. Election of Assessment Area:
The selected area for the current drilling program is an area of the Tujuh Bukit porphyry deposit that
contains the largest zone of high-grade drilling results for copper and gold to date, and is well
positioned for drilling from the current decline location.
F. Results of Exploration:
6 underground rigs conducted Resource Definition drilling totalling 6,291.1 metres as shown in
Table 1.
G. Action Plan:
Diamond drilling will continue, with another underground diamond drill rig being added from the
1st July.
Table 1: Tujuh Bukit copper project drilling statistics Quarter 2 2023
Hole ID From To Interval Comments
UHGZ-23-135A 613.7 938 324.3 UG
UHGZ-23-145 0 455 455 UG
UHGZ-23-137 409.9 917 507.1 UG
UHGZ-23-143 0 589.9 589.9 UG
UHGZ-23-143W 382.9 411.8 28.9 UG
UHGZ-23-134 806.3 810.1 3.8 UG
UHGZ-23-140 0 752.5 752.5 UG
UHGZ-23-144 0 592.5 592.5 UG
UHGZ-23-138 444.5 592.3 147.8 UG
UHGZ-23-138W 268.3 785.8 517.5 UG
UHGZ-23-136 659.5 860.5 201 UG
UHGZ-23-141 0 942.6 942.6 UG
UHGZ-23-139 564.7 1217.5 652.8 UG
UHGZ-23-142 0 575.4 575.4 UG
Page 3
PT Merdeka Copper Gold Tbk
Treasury Tower Lantai 67 – 68, District 8 SCBD Lot 28
Jl. Jend Sudirman Kav 52-53, Senayan, Kebayoran Baru
Jakarta Selatan 12190, DKI Jakarta, Indonesia
Phone: +62 21 3952 5580
Fax: +62 21 3952 5589
www.merdekacoppergold.com
Figure 2: Tujuh Bukit – underground drill holes – Quarter 2 2023
Gold and Silver: Tujuh Bukit Project
A. Expenditure:
The total expenditure for exploration related activities for the Tujuh Bukit gold and silver project in
Quarter 2 2023 is Rp45 billion consisting of life of mine resource definition drilling and regional
exploration work.
B. Area:
Tujuh Bukit gold and silver project, Banyuwangi, East Java.
C. Exploration Party:
All work was completed through a contracting agreement between Merdeka and PT Merdeka Mining
Servis.
D. Assessment Method:
Drilling from surface, regional mapping, sampling and geophysical surveys.
E. Election of Assessment Area:
The areas were selected for the life of mine drilling programs and for the regional work as they are
near the current pits and with anomalous geochemical results.
F. Results of Exploration:
Page 4
PT Merdeka Copper Gold Tbk
Treasury Tower Lantai 67 – 68, District 8 SCBD Lot 28
Jl. Jend Sudirman Kav 52-53, Senayan, Kebayoran Baru
Jakarta Selatan 12190, DKI Jakarta, Indonesia
Phone: +62 21 3952 5580
Fax: +62 21 3952 5589
www.merdekacoppergold.com
1 reverse circulation (RC) rig and 3 diamond drill (DD) rigs conducted drilling with a total of 12,618.2
metres.
G. Action Plan:
Life of Mine drilling will continue using 3 DD rigs and 1 RC rig.
Table 2: Tujuh Bukit surface drilling project statistics Quarter 2 2023
Hole_ID From To Interval Comments
GTD-23-747 124.5 354 229.5 Surface
GTD-23-748 0 396.4 396.4 Surface
GTD-23-749 0 250.7 250.7 Surface
GTD-23-750 0 305.6 305.6 Surface
GTD-23-751 0 381.2 381.2 Surface
GTD-23-752 0 464.6 464.6 Surface
GTD-23-753 0 164.7 164.7 Surface
GTD-23-754 0 109.5 109.5 Surface
GTR-23-597 0 350 350 Surface
GTR-23-599 0 290 290 Surface
GTR-23-600 0 280 280 Surface
GTR-23-601 0 200 200 Surface
GTR-23-602 0 250 250 Surface
GTR-23-604 30 200 170 Surface
GTR-23-606 0 250 250 Surface
GTR-23-608 0 270 270 Surface
GTR-23-609 0 350 350 Surface
GTR-23-610 0 400 400 Surface
GTR-23-611 0 270 270 Surface
GTR-23-612 0 350 350 Surface
GTR-23-613 0 350 350 Surface
GTR-23-614 0 350 350 Surface
GTR-23-615 0 350 350 Surface
GTR-23-616 0 380 380 Surface
GTR-23-617 0 350 350 Surface
GTR-23-618 0 325 325 Surface
GTR-23-619 0 12 12 Surface
GTR-23-619A 0 220 220 Surface
GTR-23-620 0 30 30 Surface
GTR-23-620A 0 380 380 Surface
Page 5
PT Merdeka Copper Gold Tbk
Treasury Tower Lantai 67 – 68, District 8 SCBD Lot 28
Jl. Jend Sudirman Kav 52-53, Senayan, Kebayoran Baru
Jakarta Selatan 12190, DKI Jakarta, Indonesia
Phone: +62 21 3952 5580
Fax: +62 21 3952 5589
www.merdekacoppergold.com
Hole_ID From To Interval Comments
GTR-23-621 0 325 325 Surface
GTR-23-622 0 220 220 Surface
GTR-23-623 0 260 260 Surface
GTR-23-624 0 300 300 Surface
GTR-23-625 0 180 180 Surface
GTR-23-626 0 115 115 Surface
GTR-23-627 0 120 120 Surface
GTR-23-628 0 115 115 Surface
GTR-23-629 0 200 200 Surface
GTR-23-630 0 100 100 Surface
GTR-23-631 0 220 220 Surface
GTR-23-632 0 210 210 Surface
GTR-23-633 0 180 180 Surface
GTR-23-635 0 200 200 Surface
GTR-23-636 0 204 204 Surface
GTR-23-637 0 200 200 Surface
GTR-23-638 0 200 200 Surface
GTR-23-639 0 120 120 Surface
GTR-23-640 0 200 200 Surface
GTR-23-641 0 200 200 Surface
GTR-23-642 0 120 120 Surface
GTR-23-643 0 150 150 Surface
Page 6
PT Merdeka Copper Gold Tbk
Treasury Tower Lantai 67 – 68, District 8 SCBD Lot 28
Jl. Jend Sudirman Kav 52-53, Senayan, Kebayoran Baru
Jakarta Selatan 12190, DKI Jakarta, Indonesia
Phone: +62 21 3952 5580
Fax: +62 21 3952 5589
www.merdekacoppergold.com
Figure 3: Tujuh Bukit surface drilling map – Quarter 2 2023
Copper: Wetar Project
A. Expenditure:
Total estimated exploration cost for the Wetar Project in Quarter 2 2023 is Rp39.6 billion.
B. Area:
Wetar Project, Wetar Island, West Maluku.
C. Exploration Party:
All work was completed through a contracting agreement between Merdeka and PT Merdeka Mining
Servis.
D. Assessment Method:
Geological interpretation, geochemical surveys, geophysical surveys and previous drilling.
E. Election of Assessment Area:
Page 7
PT Merdeka Copper Gold Tbk
Treasury Tower Lantai 67 – 68, District 8 SCBD Lot 28
Jl. Jend Sudirman Kav 52-53, Senayan, Kebayoran Baru
Jakarta Selatan 12190, DKI Jakarta, Indonesia
Phone: +62 21 3952 5580
Fax: +62 21 3952 5589
www.merdekacoppergold.com
The exploration areas were selected from the previous significant drill intersections, ground and
airborne electromagnetic (EM) geophysical surveys and historical mining activity which identified
features with potential for VMS deposits.
F. Results of Exploration:
2 drill rigs operated during the quarter with 79 drill holes completed (including 7 metallurgical holes)
for a total drilled depth of 11,724.45 metres in Partolang.
G. Action Plan:
Infill and extension resource drilling will continue in the Partolang area, included metallurgical drilling
utilising 1 DD and 1RC rig.
Table 3: Wetar project drilling statistics Quarter 2 2023
Holes Metres
Drill Type HoleID Details
Completed Drilled (m)
Extension drilling to
PTDM0129, PTDM0131-
define resources. 7holes
PTDM0136, PTDR0130,
DD Partolang 12 2,115.45 drilled for metallurgical
PTDR0137-PTDR0139,
and 2holes drilled as
BMDR0052
twin holes
Infill drilling and extension
RC Partolang 67 9,609 PTRR0336-PTRR0402
drilling in Partolang
Totals 79 11,724.45
Page 8
PT Merdeka Copper Gold Tbk
Treasury Tower Lantai 67 – 68, District 8 SCBD Lot 28
Jl. Jend Sudirman Kav 52-53, Senayan, Kebayoran Baru
Jakarta Selatan 12190, DKI Jakarta, Indonesia
Phone: +62 21 3952 5580
Fax: +62 21 3952 5589
www.merdekacoppergold.com
Figure 4: Drilling status for DD & RC holes in Partolang - Quarter 2 2023
Gold: Pani Project
A. Expenditure:
Total estimated exploration costs for the Pani Project in Quarter 2 2023 is Rp94.1 billion.
B. Area:
Pani Project, Gorontalo Province, Sulawesi.
C. Exploration Party:
All work was completed through a contracting agreement between Merdeka and PT Merdeka
Mining Servis.
D. Assessment Method:
Diamond drilling with 12 drill rigs, relogging historical drill core, geological mapping and alteration
mineral analysis by LIBS and XRF.
E. Election of Assessment Area:
The area selected for drilling was chosen as there is a gap between historical drilling within the IUP
and that of the adjoining CoW.
F. Results of Exploration:
Page 9
PT Merdeka Copper Gold Tbk
Treasury Tower Lantai 67 – 68, District 8 SCBD Lot 28
Jl. Jend Sudirman Kav 52-53, Senayan, Kebayoran Baru
Jakarta Selatan 12190, DKI Jakarta, Indonesia
Phone: +62 21 3952 5580
Fax: +62 21 3952 5589
www.merdekacoppergold.com
151 drill holes were completed for total of 20,434.80 metres during Quarter 2 2023, for resource
definition, metallurgy and sterilisation drilling programs. The progress of the current drilling program
is shown in Figure 5.
G. Action Plan:
The diamond drilling program will continue using 12 diamond drill rigs for resource definition and
sterilisation drilling programs.
Table 4: Pani project drilling statistics Quarter 2 2023
Campaign Holes Metres
Hole_ID Details
Completed Drilled
GSM Resource
13 2,297.90 GSDR0011-GSDR0023 Infill Drilling
Definition
GSM
18 2,583.10 GSDS0018-GSDS0035 Sterilisation Drilling
Sterilisation
PETS Resource PEDR0060-PEDR0177,
120 15,553.80 Infill Drilling
Definition PEDR0179, PEDR0186
Totals 151 20,434.80
Page 10
PT Merdeka Copper Gold Tbk
Treasury Tower Lantai 67 – 68, District 8 SCBD Lot 28
Jl. Jend Sudirman Kav 52-53, Senayan, Kebayoran Baru
Jakarta Selatan 12190, DKI Jakarta, Indonesia
Phone: +62 21 3952 5580
Fax: +62 21 3952 5589
www.merdekacoppergold.com
Figure 5: Pani Proposed and Completed Drill Holes Overlain on Topography – Quarter 2 2023
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