20240416_ARCI_Laporan Bulanan Aktivitas Eksplorasi_31626225_lamp1.pdf

                                                                              No: 0031/ARCHI/4/2024/G
PT Archi Indonesia Tbk. (the ”Company” or “ARCI”) owns 100% of the Toka Tindung Gold
Mine, a pure-play gold mine located approximately 35 kilometers northeast of the regional
capital, Manado, in North Sulawesi, Indonesia, through the Company’s wholly-owned
subsidiaries, PT Meares Soputan Mining (“MSM”) and PT Tambang Tondano Nusajaya
(“TTN”).
The Toka Tindung Gold Mine consists of two long-term Contract of Works (“CoWs”) covering
39,817 hectares, which cover into two administration areas in North Sulawesi, North Minahasa
and Bitung City districts (Figure 1). The CoWs are valid until 2041 and are held by MSM and
TTN. Pursuant to the Mining Law Amendment, MSM and TTN have been guaranteed two
more extensions of the CoWs in the form of Special Mining Business License/Izin Usaha
Pertambangan Khusus (“IUPK”), each for maximum period of 10 years.




                 Figure 1. Map Location of MSM and TTN’s Contract of Works



Exploration activities carried out by the Company, through its subsidiaries, which are MSM
and TTN, for the period January 2024 to March 2024 were focused on mapping semi detail
to detail mapping in the Brownfield area of the Western Corridor (Wesco) Project.
Exploration drilling, Resource Definition drilling and Sterilization drilling activities in Western
Corridor Project and also Exploration drilling and CSAMT geophysics activities in Eastern
Corridor Project as presented in the map below (Figure 2).

                                                                           No: 0031/ARCHI/4/2024/G
Below are the details of Exploration activities costs for the period January 2024 to March 2024:

      Total Exploration activities costs for the period January 2024 were US$796,944 or
       equivalent to Rp12.6 billion.
      Total Exploration activities costs for the period February 2024 were US$759,044 or
       equivalent to Rp11.9 billion.
      Total Exploration activities costs for the period March 2024 were US$802,869 or
       equivalent to Rp12.7 billion.


Therefore, the total Exploration activities cost for the period January 2024 to March 2024
US$2,358,857 or equivalent to around Rp37.2 billion.
Meanwhile, the details of drilling activities for the period January 2024 to March 2024 were as
follow:

      On January 2024, ARCI had conducted drilling at 28 holes with a total depth of 6,066.8
       meters.
      On February 2024, ARCI had conducted drilling at 31 holes with a total depth of
       5,521.4 meters.
      On March 2024, ARCI had conducted drilling at 46 holes with a total depth of 6,444.3
       meters.
Therefore, the total drilling activities conducted for the period January 2024 to March 2024
were around 105 holes and 18,032.5 meters.
Drilling activities for gold Resource Definition and Exploration, involved Diamond Drilling
(“DD”) and Reverse Circulation (“RC”) drilling methods, were performed by PT Maxidrill
Indonesia through a contract/agreement. Details of number of drill programs by project and by
month, quarter- and half-yearly reporting period by drilling method are shown in Table 1.

                                                                              No: 0031/ARCHI/4/2024/G



Table 1. 2024 Monthly, Quarterly and Half-yearly drilling statistics by prospect and drill type.

                                        Diamond Drilling (DD)        Reverse Circulation (RC)
                       Prospect
      Period                           Number of      Drilling       Number of      Drilling
                         Area
                                       Drill Holes    Meters         Drill Holes    Meters
                     Marawuwung              9        2,248.9              -            -
                     Sinter                  1         770.8               -            -
  January 2024       Toka                    -            -               11        1,833.0
                     Wesco                   7        1,214.1              -            -
                     Sub Total              17        4,233.8             11        1,833.0
                     Marawuwung              8        1,961.0             10         723.0
                     Sinter                  4         858.7               -            -
  February 2024      Toka                    -            -                6         941.0
                     Wesco                   3        1,037.7              -            -
                     Sub Total              15        3,857.4             16        1,664.0
                     Marawuwung              9        2,714.8             27        1,697.0
   March 2024        Sinter                  6        1,013.2              -            -
                     Wesco                   4        1,019.3              -            -
                     Sub Total              19        4,747.3             27        1,697.0
    Q1 TOTAL                                51       12,838.5             54        5,194.0

                                                                 No: 0031/ARCHI/4/2024/G




Figure 2. Map of drilling progress for the period January 2024 to March 2024