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20241009_MDKA_Laporan Bulanan Aktivitas Eksplorasi_31734375_lamp1.pdf
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9th October 2024
Exploration Report for period ending 30 September 2024
Activities Summary
PT Merdeka Copper Gold Tbk (IDX: MDKA) (“Merdeka” or the “Company”) continued its
exploration activities during the quarter ending 30 September 2024 (“Q3”) across three locations
in Indonesia (Tujuh Bukit in East Java, Wetar Island in Southwest Maluku and Pani in Gorontalo),
as shown in Figure 1 below.
At Tujuh Bukit, our primary focus lies on copper-gold and gold-silver resources, while at Wetar,
our focus is on copper resources, and at Pani, our focus is on gold resources.
The total spending on exploration by Merdeka in Q3 is approximately IDR144.80 billion
(equivalent to approximately US$9.25 million).
Figure 1: Merdeka Exploration Project Locations
PT Merdeka Copper Gold Tbk (IDX: MDKA) Page 1 of 7
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Copper, Gold and Silver: Tujuh Bukit Project
A. Expenditure:
The total exploration expenditure in Q3 is IDR100.51 billion (equivalent to approximately
US$6.42 million) 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:
The majority of the work was completed by PT Bumi Suksesindo, with additional support
provided 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:
Geological interpretation and anomalous geochemical results have been used to determine
drilling targets for resource definition at Tujuh Bukit oxide Au, and regional exploration at Gua
Macan, Candrian, and Katak.
F. Results of Exploration:
Two reverse circulation (RC) rigs and eight diamond drill (DD) rigs conducted drilling with a
total of 43,674.7 metres drilled.
G. Action Plan:
Surface drilling at Tujuh Bukit will continue using eight diamond drill rigs and two RC rigs for
resource definition drilling at Tujuh Bukit near mine, and regional exploration drilling at Gua
Macan, Candrian, and Katak.
PT Merdeka Copper Gold Tbk (IDX: MDKA) Page 2 of 7
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Table 1: Tujuh Bukit surface drilling project statistics for Q3
Drill Holes Metres
Area Prospect Details
Type Completed Drilled (m)
RC LOM/Au Oxide Extension 93 13,344.0 Extension of the current
DD LOM/Au Oxide Extension 64 17,124.2 oxide Au resources
DD Gua Macan 11 4,463.8
DD Candrian 15 5,385.3 Regional exploration
DD Katak 8 3,357.4
Total 191 43,674.7
Figure 2: Tujuh Bukit drill hole collar locations for Q3 2024
PT Merdeka Copper Gold Tbk (IDX: MDKA) Page 3 of 7
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Copper: Wetar Copper Mine
A. Expenditure:
Total estimated exploration expenditure in Q3 is IDR33.93 billion (equivalent to approximately
US$2.17 million).
B. Area:
Wetar Copper Mine, Wetar Island, Southwest 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 drilling.
E. Election of Assessment Area:
The exploration areas were selected based on historical data and current mapping results,
incorporating geochemical and geophysical anomalies.
F. Results of Exploration:
68 diamond drill holes were completed, for a total of 7,202.4 metres in Lerokis, Kali Kuning
South, Kali Kuning West and Karkopang.
G. Action Plan:
The resource drilling program will continue in the Lerokis area, with geological mapping and
rock chip sampling programs undertaken on regional targets.
Table 2: Wetar project drilling statistics for Q3
Drilling Drill Area Holes Metres
Details
Program Type Prospect Completed Drilled (m)
Kali Kuning
DD 3 526.9
South Regional exploration drill
Regional Kali Kuning program to test airborne and
Exploration DD 7 1,139.2 ground EM and geochemical
West
anomalies
DD Karkopang 8 1,603.9
PT Merdeka Copper Gold Tbk (IDX: MDKA) Page 4 of 7
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Infill and extension of the
Resource DD Lerokis 50 3,932.4
current resource
Totals 68 7,202.4
Figure 3: Wetar drill hole collar locations in Q3 2024
PT Merdeka Copper Gold Tbk (IDX: MDKA) Page 5 of 7
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Gold: Pani Gold Project
A. Expenditure:
Total estimated exploration expenditure in Q3 is IDR10.36 billion (equivalent to approximately
US$0.65 million).
B. Area:
Pani Gold Project, Gorontalo Province, Sulawesi.
C. Exploration Party:
The majority of the work was completed by PT Gorontalo Sejahtera Mining (GSM) and PT
Puncak Emas Tani Sejahtera (PETS), with additional support provided through a contracting
agreement between Merdeka and PT Merdeka Mining Servis.
D. Assessment Method:
Relogging of historical drill core, geological mapping, alteration mineral analysis based on
ICP results, updating the survey topography and geological models.
E. Election of Assessment Area:
Regional geological mapping needs to be updated with detailed geological information to
confirm suitable sterilised areas for infrastructure.
F. Results of Exploration:
Relogging of 35 historical geotechnical - sterilisation drill cores covering a total of 7,845.8
metres. Geological mapping over 70 hectares at potential infrastructure areas. Topography
survey updates for the Baganite, Pani Ridge, Mutiara, Ilota and Nanasi prospects, covering
a total of 48.3 hectares. Updating geological models for lithology, alteration, oxidation, and
structure.
G. Action Plan:
Completion of the topography survey and updating the geological model.
PT Merdeka Copper Gold Tbk (IDX: MDKA) Page 6 of 7
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Figure 4: Pani completed drill holes with the updated Q3 2024 topography survey boundaries PT Merdeka Copper Gold Tbk (IDX: MDKA) Page 7 of 7
Names mentioned 5 people and organisations named in the text · linked when the evidence is strong
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PT Bumi Suksesindo
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PT Merdeka Mining Servis. D. Assessment Method
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PT Gorontalo Sejahtera Mining
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PT Puncak Emas Tani Sejahtera
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