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Company Information for Sumatra Copper and Gold Plc

Company stock charts - 6 Month chart

Exchange ASX; SUM


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Company Statement

Sumatra Copper & Gold plc (SUM), a company incorporated in England and Wales in 2006, was established with the specific objective of compiling an exploration rights package on the Indonesian island of Sumatra, an area where historically there has been significant mining activity, particularly for gold and silver. The Company listed on the ASX in October 2009 (ASX:SUM). SUM has a 92.5% interest in one exploration licence (IUP) under the new Indonesian Minerals Act and seven IUP applications at various stages of processing that collectively cover 4,000 km˛. The Company believes that potential exists for the further discovery and future development of economic mineral deposits in this area considering:

  • historically, there has been mining activity in the area of the projects, including production of 3.0 million ounces of gold and 25.0 million ounces of silver; and
  • the projects have a global mineral resource inventory totalling approximately 2.0 million ounces of gold and 22.3 million ounces of silver


Current Operations

(a) Tembang

  • A previous open pit mine that operated from 1997 to 2000, its closure mainly attributable to low gold prices.
  • JORC reported Mineral Resource of approximately 53.7 million tonnes at 1.0 g/t and 11.5 g/t silver for a total of 1.64 million ounces of gold and 19.8 million ounces of silver, including a higher grade zone of vein material of 12.0 million tonnes at 1.9 g/t gold and 28.6 g/t silver, as of March 2009.
  • Up to 6,500 metres of diamond and RC drilling is planned at Tembang to test down-dip and along-strike extensions of higher grade epithermal gold-silver mineralisation.

(b) Sontang
  • A virgin “manto” style discovery by SUM has been subject to minimal exploration to date.
  • Rock chip sampling results up to 24.5 g/t gold 1,000g/t silver, 12.2% lead and 30.8% zinc.
  • Weighted average from 54.8 metres of sawn rock channel samples are 2.87 g/t gold, 118 g/t silver, 0.57% lead and 5.66% zinc.
  • Exploration licence already granted under New Mining Law.
  • Phase 1 work program proposes geophysical and further geochemical surveys together with a minimum of 1,000 metres of diamond drilling which will start in late 2009.
  • Phase 2 program consists on a further 3,500 metres of drilling subject to the results of Phase 1.

(c) Lebong
  • The Lebong Project includes two under-explored mining districts; Donok and Tambang Sawah.
  • The Donok underground mine previously operated by the Dutch up to 1939 with recorded production of 1.34 million ounces of gold and 7.4 million ounces of silver at a grade of 12.8 g/t gold and 70.5 g/t silver where previous drilling has recorded intercepts up to 69.3 metres at 2.7 g/t gold.
  • Tambang Sawah underground mine is less well understood than Donok, but drilling by the Company has recorded intercepts of up to 28.8 meters at 4.6 g/t gold.
  • No exploration work is planned whilst a dispute in respect of overlapping claims remains unresolved.

(d) Tandai
  • Large intermediate sulphidation epithermal system with molybdenum anomalies to the west.
  • Historical Dutch production totalled 1.4 million ounces of gold and 15 million ounces of silver at a grade of 15.4 g/t gold and 167 g/t silver. Also mined by the Japanese for copper during WWII.
  • Survey results have confirmed that gold mineralisation remains in the foot wall and hanging wall as indicated by the Company’s drill intercepts including 72.9 metres (22.0 metres true width) at 2.0 g/t gold adjacent to old Dutch stopes.
  • Multi million ounce target potential exists at the Tandai project.
  • Initial work program will involve additional historical data acquisition from archives in The Hague and Indonesia and conducting further geochemical surveys to define future drilling targets.


Geographical Spread

Sumatra, Indonesia

South Tenements (top graphic)

North Tenements (bottom graphic)


Board of Directors and Key Management

Warwick George Morris (Chairman)
Jocelyn Severyn de Warrenne Waller (Managing Director)
Richard Edwards Chief Financial Officer & Joint Company Secretary
Alan Robert Flint (Director of Exploration)
Lord Daresbury (Non-Executive Director)
Dr Michael Allan Price (Non-Executive Director)
Alison Barr Joint Company Secretary

Company Address

Registered Office
20-22 Bedford Row
London, United Kingdom WC1R 4JS

Telephone:+61 2 9300 3377
Email:info[at]sumatra-copper-gold.com
Website:http://www.sumatra-copper-gold.com

Additional Address/Key Contact

Australian Office:
Level 2, 66 Hunter Street
Sydney NSW 2000
Australia

Capital

Shares on issue – 127.5m

Year End

31 December

Nominated Brokers

Argonaut Securities Pty Ltd
Level 30 Allendale Square
77 St George’s Terrace
Perth WA 6000
Australia

Major Shareholders

Macquarie Bank 10%
Gold 2000 7.8%
Alan Robert Flint 5.4%

Related News

28/01/10 - Sumatra Copper & Gold Expects To Announce An Increased Resource On Its Tembang Project During The Next Quarter
09/09/09 - After A $12 Million Raise In Australia Sumatra Copper & Gold Plans Rapid Progress On The 1.6 Million Ounce Tembang Project In Indonesia

Most Recent Statement

13/01/10 - Grant of 3 IUPs and Commencement of Drilling
20/11/09 - Tembang Project Update Shows US$200 Million Free Cash Flow
03/11/09 - Appointment of CFO and Joint Company Secretary
30/10/09 - Quarterly Cashflow Report
30/10/09 - Quarterly Activities Report
28/10/09 - Initial Director`s Interest Notice

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