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Page 1
PT Merdeka Copper Gold Tbk
PT Merdeka Copper Gold Tbk
Treasury Tower Lantai 67 – 68, District 8 SCBD Lot 28
Treasury Tower Lantai 67 – 68, District 8 SCBD Lot 28
Jl. Jend Sudirman Kav 52-53, Senayan, Kebayoran Baru
Jl. Jend Sudirman Kav 52-53, Senayan, Kebayoran Baru
Jakarta Selatan 12190, DKI Jakarta, Indonesia
Jakarta Selatan 12190, DKI Jakarta, Indonesia
Phone: +62 21 3952 5580
Phone: +62 21 3952 5580
Fax: +62 21 3952 5589
Fax: +62 21 3952 5589
www.merdekacoppergold.com
www.merdekacoppergold.com
8th July 2024
Exploration Report for period ending 30 June 2024
Activities Summary
PT Merdeka Copper Gold Tbk (IDX: MDKA) (“Merdeka” or the “Company”) continued its
exploration activities during the quarter ending 30 June 2024 (“Q2”) 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 gold resources.
The total spending on exploration by Merdeka in Q2 is approximately IDR129.9 billion (equivalent
to approximately US$8 million).
Figure 1: Merdeka Exploration Project Locations
PT Merdeka Copper Gold Tbk (IDX: MDKA) Page 1 of 10
Page 2
PT Merdeka Copper Gold Tbk
PT Merdeka Copper Gold Tbk
Treasury Tower Lantai 67 – 68, District 8 SCBD Lot 28
Treasury Tower Lantai 67 – 68, District 8 SCBD Lot 28
Jl. Jend Sudirman Kav 52-53, Senayan, Kebayoran Baru
Jl. Jend Sudirman Kav 52-53, Senayan, Kebayoran Baru
Jakarta Selatan 12190, DKI Jakarta, Indonesia
Jakarta Selatan 12190, DKI Jakarta, Indonesia
Phone: +62 21 3952 5580
Phone: +62 21 3952 5580
Fax: +62 21 3952 5589
Fax: +62 21 3952 5589
www.merdekacoppergold.com
www.merdekacoppergold.com
Copper, Gold and Silver: Tujuh Bukit Project
A. Expenditure:
The total exploration expenditure in Q2 is IDR86.9 billion (equivalent to approximately US$5.4
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:
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:
Geological interpretation and anomalous geochemical results have been used to determine
drilling targets for resource definition at Tujuh Bukit and Katak, and regional exploration at
Candrian and Lompongan.
F. Results of Exploration:
One Reverse Circulation (RC) rig and six Diamond Drill (DD) rigs conducted drilling with a
total of 24,975.9 metres drilled.
G. Action Plan:
Surface drilling at Tujuh Bukit will continue using six Diamond Drill rigs and one RC rig for
resource definition drilling at Tujuh Bukit and Katak, and regional exploration drilling at
Lompongan/Gua Macan.
Table 1: Tujuh Bukit surface drilling project statistics for Q2
From To Interval
Hole_ID
(m) (m) (m)
CND-24-024 589.7 589.7 0
CND-24-028 12.9 258.4 245.5
CND-24-029 0 600 600
CND-24-030 0 600.5 600.5
CND-24-031 0 335 335
CND-24-032 0 203.7 203.7
CND-24-033 0 306.8 306.8
PT Merdeka Copper Gold Tbk (IDX: MDKA) Page 2 of 10
Page 3
PT Merdeka Copper Gold Tbk
PT Merdeka Copper Gold Tbk
Treasury Tower Lantai 67 – 68, District 8 SCBD Lot 28
Treasury Tower Lantai 67 – 68, District 8 SCBD Lot 28
Jl. Jend Sudirman Kav 52-53, Senayan, Kebayoran Baru
Jl. Jend Sudirman Kav 52-53, Senayan, Kebayoran Baru
Jakarta Selatan 12190, DKI Jakarta, Indonesia
Jakarta Selatan 12190, DKI Jakarta, Indonesia
Phone: +62 21 3952 5580
Phone: +62 21 3952 5580
Fax: +62 21 3952 5589
Fax: +62 21 3952 5589
www.merdekacoppergold.com
www.merdekacoppergold.com
From To Interval
Hole_ID
(m) (m) (m)
CND-24-034 0 145.2 145.2
CND-24-036 0 132.3 132.3
CND-24-037 0 173.8 173.8
GTD-24-804 182.1 400 217.9
GTD-24-805 0 350.4 350.4
GTD-24-806 0 200.3 200.3
GTD-24-807 0 156.2 156.2
GTD-24-808 0 355.9 355.9
GTD-24-809 0 250 250
GTD-24-810 0 269.7 269.7
GTD-24-811 0 150 150
GTD-24-812 0 150 150
GTD-24-813 0 241.6 241.6
GTD-24-814 0 288 288
GTD-24-815 0 150 150
GTD-24-816 0 147.2 147.2
GTD-24-817 0 150 150
GTD-24-818 0 176.7 176.7
GTD-24-819 0 195.6 195.6
GTD-24-820 0 100 100
GTD-24-821 0 252.9 252.9
GTD-24-822 0 175.1 175.1
GTD-24-823 0 180 180
GTD-24-824 0 170.8 170.8
GTD-24-825 0 130 130
GTD-24-826 0 150.1 150.1
GTD-24-827 0 210 210
GTD-24-828 0 128.2 128.2
GTD-24-829 0 150 150
GTD-24-830 0 150 150
GTD-24-831 0 200.2 200.2
GTD-24-832 0 2.1 2.1
GTD-24-832A 0 150 150
GTD-24-834 0 178.4 178.4
GTD-24-835 0 210.1 210.1
GTR-24-739 0 350 350
GTR-24-740 0 324 324
GTR-24-741 168 350 182
GTR-24-742 0 200 200
GTR-24-743 0 330 330
GTR-24-744 0 342 342
GTR-24-745 0 228 228
GTR-24-746 0 200 200
GTR-24-747 0 256 256
GTR-24-748 0 234 234
GTR-24-749 0 250 250
GTR-24-750 0 210 210
PT Merdeka Copper Gold Tbk (IDX: MDKA) Page 3 of 10
Page 4
PT Merdeka Copper Gold Tbk
PT Merdeka Copper Gold Tbk
Treasury Tower Lantai 67 – 68, District 8 SCBD Lot 28
Treasury Tower Lantai 67 – 68, District 8 SCBD Lot 28
Jl. Jend Sudirman Kav 52-53, Senayan, Kebayoran Baru
Jl. Jend Sudirman Kav 52-53, Senayan, Kebayoran Baru
Jakarta Selatan 12190, DKI Jakarta, Indonesia
Jakarta Selatan 12190, DKI Jakarta, Indonesia
Phone: +62 21 3952 5580
Phone: +62 21 3952 5580
Fax: +62 21 3952 5589
Fax: +62 21 3952 5589
www.merdekacoppergold.com
www.merdekacoppergold.com
From To Interval
Hole_ID
(m) (m) (m)
GTR-24-751 0 280 280
GTR-24-752 0 220 220
GTR-24-753 0 203 203
GTR-24-754 0 258 258
GTR-24-755 0 252 252
GTR-24-756 0 150 150
GTR-24-757 0 350 350
GTR-24-758 0 192 192
GTR-24-759 0 150 150
GTR-24-760 0 186 186
GTR-24-761 0 192 192
GTR-24-762 0 280 280
GTR-24-763 0 240 240
GTR-24-764 0 150 150
GTR-24-765 0 234 234
GTR-24-766 0 220 220
GTR-24-767 0 200 200
GTR-24-768 0 180 180
GTR-24-769 0 210 210
GTR-24-770 0 252 252
GTR-24-771 0 148 148
GTR-24-772 0 150 150
GTR-24-773 0 140 140
GTR-24-774 0 132 132
GTR-24-775 0 120 120
GTR-24-776 0 210 210
GTR-24-777 0 120 120
GTR-24-778 0 150 150
GTR-24-779 0 198 198
GTR-24-780 0 186 186
GTR-24-781 0 126 126
GTR-24-782 0 120 120
GTR-24-783 0 198 198
GTR-24-784 0 189 189
GTR-24-785 0 166 166
GTR-24-786 0 186 186
GTR-24-787 0 230 230
GTR-24-788 0 230 230
GTR-24-789 0 230 230
GTR-24-790 0 126 126
GTR-24-791 0 80 80
GTR-24-792 0 168 168
GTR-24-793 0 150 150
GTR-24-794 0 138 138
GTR-24-795 0 150 150
GTR-24-796 0 170 170
GTR-24-797 0 150 150
PT Merdeka Copper Gold Tbk (IDX: MDKA) Page 4 of 10
Page 5
PT Merdeka Copper Gold Tbk
PT Merdeka Copper Gold Tbk
Treasury Tower Lantai 67 – 68, District 8 SCBD Lot 28
Treasury Tower Lantai 67 – 68, District 8 SCBD Lot 28
Jl. Jend Sudirman Kav 52-53, Senayan, Kebayoran Baru
Jl. Jend Sudirman Kav 52-53, Senayan, Kebayoran Baru
Jakarta Selatan 12190, DKI Jakarta, Indonesia
Jakarta Selatan 12190, DKI Jakarta, Indonesia
Phone: +62 21 3952 5580
Phone: +62 21 3952 5580
Fax: +62 21 3952 5589
Fax: +62 21 3952 5589
www.merdekacoppergold.com
www.merdekacoppergold.com
From To Interval
Hole_ID
(m) (m) (m)
GTR-24-798 0 108 108
GTR-24-799 0 148 148
GTR-24-800 0 150 150
GTR-24-801 0 168 168
GTR-24-802 0 120 120
GTR-24-803 0 200 200
GTR-24-804 0 250 250
GTR-24-805 0 180 180
GTR-24-806 0 76 76
GTR-24-807 0 120 120
GMD-24-004 64.9 500.8 435.9
GMD-24-005 0 551.2 551.2
GMD-24-006 0 500.3 500.3
GTH-24-401 0 182.4 182.4
CND-24-038 0 180.1 180.1
CND-24-035 0 251.1 251.1
KTD-24-015 0 89.61 89.61
GMD-24-007 0 200.4 200.4
GMD-24-008 0 108.6 108.6
GTH-24-401A 0 360.1 360.1
PT Merdeka Copper Gold Tbk (IDX: MDKA) Page 5 of 10
Page 6
PT Merdeka Copper Gold Tbk
PT Merdeka Copper Gold Tbk
Treasury Tower Lantai 67 – 68, District 8 SCBD Lot 28
Treasury Tower Lantai 67 – 68, District 8 SCBD Lot 28
Jl. Jend Sudirman Kav 52-53, Senayan, Kebayoran Baru
Jl. Jend Sudirman Kav 52-53, Senayan, Kebayoran Baru
Jakarta Selatan 12190, DKI Jakarta, Indonesia
Jakarta Selatan 12190, DKI Jakarta, Indonesia
Phone: +62 21 3952 5580
Phone: +62 21 3952 5580
Fax: +62 21 3952 5589
Fax: +62 21 3952 5589
www.merdekacoppergold.com
www.merdekacoppergold.com
Figure 2: Tujuh Bukit surface drillholes location map for Q2
Copper: Wetar Copper Mine
A. Expenditure:
Total estimated exploration expenditure in Q2 is IDR15.3 billion (equivalent to approximately
US$0.9 million).
B. Area:
Wetar Copper Mine, Wetar Island, West Maluku.
C. Exploration Party:
All work was completed through a contracting agreement between Merdeka and PT Merdeka
Mining Servis.
PT Merdeka Copper Gold Tbk (IDX: MDKA) Page 6 of 10
Page 7
PT Merdeka Copper Gold Tbk
PT Merdeka Copper Gold Tbk
Treasury Tower Lantai 67 – 68, District 8 SCBD Lot 28
Treasury Tower Lantai 67 – 68, District 8 SCBD Lot 28
Jl. Jend Sudirman Kav 52-53, Senayan, Kebayoran Baru
Jl. Jend Sudirman Kav 52-53, Senayan, Kebayoran Baru
Jakarta Selatan 12190, DKI Jakarta, Indonesia
Jakarta Selatan 12190, DKI Jakarta, Indonesia
Phone: +62 21 3952 5580
Phone: +62 21 3952 5580
Fax: +62 21 3952 5589
Fax: +62 21 3952 5589
www.merdekacoppergold.com
www.merdekacoppergold.com
D. Assessment Method:
Geological interpretation, geochemical surveys, geophysical surveys, and drilling.
E. Election of Assessment Area:
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:
Drilling program has just started in mid of June. Total four diamond drill holes were completed
at 902.6 metres drilled, three drill holes for 667 metres in Kali Kuning South, and one hole in
Kali Kuning West for 235.6 metres.
G. Action Plan:
Exploration drill phase 1 of 2024 has been commenced at Kali Kuning West and Kali Kuning
South. Exploration activities will continue drill pad and access preparation, and regional
exploration in Kali Kuning South, Kali Kuning West and Karkopang.
Table 2: Wetar project drilling statistics for Q2
Holes Metres
Prospect Hole_ID Details
Completed Drilled (m)
Kali Kuning KSDE0001- Regional exploration drill
3 667
South KSDE0003 program to test the ground
Kali Kuning EM and geochemical
1 235.6 KWDE0001 anomalies
West
Total 4 902.6
PT Merdeka Copper Gold Tbk (IDX: MDKA) Page 7 of 10
Page 8
PT Merdeka Copper Gold Tbk
PT Merdeka Copper Gold Tbk
Treasury Tower Lantai 67 – 68, District 8 SCBD Lot 28
Treasury Tower Lantai 67 – 68, District 8 SCBD Lot 28
Jl. Jend Sudirman Kav 52-53, Senayan, Kebayoran Baru
Jl. Jend Sudirman Kav 52-53, Senayan, Kebayoran Baru
Jakarta Selatan 12190, DKI Jakarta, Indonesia
Jakarta Selatan 12190, DKI Jakarta, Indonesia
Phone: +62 21 3952 5580
Phone: +62 21 3952 5580
Fax: +62 21 3952 5589
Fax: +62 21 3952 5589
www.merdekacoppergold.com
www.merdekacoppergold.com
Figure 3: Wetar drillholes location map for Q2
Gold: Pani Gold Project
A. Expenditure:
Total estimated exploration expenditure in Q2 is IDR27.7 billion (equivalent to approximately
US$1.7 million).
B. Area:
Pani Gold Project, Gorontalo Province, Sulawesi.
C. Exploration Party:
All work was completed through a contracting agreement between Merdeka and PT Merdeka
Mining Servis.
PT Merdeka Copper Gold Tbk (IDX: MDKA) Page 8 of 10
Page 9
PT Merdeka Copper Gold Tbk
PT Merdeka Copper Gold Tbk
Treasury Tower Lantai 67 – 68, District 8 SCBD Lot 28
Treasury Tower Lantai 67 – 68, District 8 SCBD Lot 28
Jl. Jend Sudirman Kav 52-53, Senayan, Kebayoran Baru
Jl. Jend Sudirman Kav 52-53, Senayan, Kebayoran Baru
Jakarta Selatan 12190, DKI Jakarta, Indonesia
Jakarta Selatan 12190, DKI Jakarta, Indonesia
Phone: +62 21 3952 5580
Phone: +62 21 3952 5580
Fax: +62 21 3952 5589
Fax: +62 21 3952 5589
www.merdekacoppergold.com
www.merdekacoppergold.com
D. Assessment Method:
Diamond Drilling, relogging historical drill core, geological mapping and alteration mineral
analysis by LIBS and XRF.
E. Election of Assessment Area:
The areas selected for drilling were chosen to upgrade and infill the mineral resource and to
sterilise areas for infrastructure.
F. Results of Exploration:
57 drill holes were completed for total of 3,474.1 metres during Q2, for resource definition
and geotechnical drilling programs.
G. Action Plan:
The Diamond Drilling program has been completed on 30 April 2024.
Table 3: Pani project drilling statistics for Q2
Program Holes Metres Drilled
Hole_ID Details
Completed (m)
GSM
3 260 GSDG0017 - GSDG0019 Geotech Drilling
Geotech
PBT
1 1.4 PBDG0018 Geotech Drilling
Geotech
PETS
Resource
Resource 53 3,212.7 PEDR0512 - PEDR0566
Definition Drilling
Definition
Total 57 3,474.1
PT Merdeka Copper Gold Tbk (IDX: MDKA) Page 9 of 10
Page 10
PT Merdeka Copper Gold Tbk
PT Merdeka Copper Gold Tbk
Treasury Tower Lantai 67 – 68, District 8 SCBD Lot 28
Treasury Tower Lantai 67 – 68, District 8 SCBD Lot 28
Jl. Jend Sudirman Kav 52-53, Senayan, Kebayoran Baru
Jl. Jend Sudirman Kav 52-53, Senayan, Kebayoran Baru
Jakarta Selatan 12190, DKI Jakarta, Indonesia
Jakarta Selatan 12190, DKI Jakarta, Indonesia
Phone: +62 21 3952 5580
Phone: +62 21 3952 5580
Fax: +62 21 3952 5589
Fax: +62 21 3952 5589
www.merdekacoppergold.com
www.merdekacoppergold.com
Figure 4: Pani Gold Project drill holes location map for Q2
PT Merdeka Copper Gold Tbk (IDX: MDKA) Page 10 of 10
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Jakarta Selatan 12190, DKI Jakarta
p.1 ×20
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PT Merdeka Mining Servis. D. Assessment Method
p.2
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PT Merdeka Mining Servis.
p.6 ×2
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