Sihayo Gold Limited (ASX:SIH) owns a 75% interest in PT Sorikmas Mining which in turn holds the Sihayo-Pungkut 7th Generation Contract of Work (“CoW”). PT Aneka Tambang Tbk is the Company’s joint venture partner in the CoW with a 25% interest. The CoW is located in North Sumatra in the Republic of Indonesia and is approximately three and a half hours drive south from the Martabe Gold Mine.
The Sihayo Gold Project is the most advanced project within the CoW and approaching definitive feasibility stage following a successful infill drilling campaign in late 2019 with Combined Mineral Resources of 24,006,000 tonnes at 2.0 g/t for 1,506,000 ounces of contained gold. The CoW area is deemed to be highly prospective for gold and base metals mineralisation and is advancing multiple prospects targeting carbonate-hosted gold, epithermal-vein gold, gold-copper skarn, copper-gold porphyry and lead-zinc skarn style mineralisation across the CoW area.