Exploration drilling at the Sangihe gold-silver project further defines the orebody.

With the environmental permit application (AMDAL) approval in October and the subsequent payment of the outstanding financial obligations in the fourth the quarter of 2020, Baru Gold has ramped up operational activities by procuring the supplies necessary for the 100,000 metric ton (mt) heapleach pad outlined in the company’s business plan. The construction of the heap leach operation has begun and it is not contingent on receipt of the operational permit. The company’s engineering team recently completed a detailed survey of the areas required for mining operations. “We will soon be completing the land acquisition with the government and the local land users for the additional land needed for the project,” Filbert said. “These additional hectares at Sangihe will provide Baru Gold with space for an operational base, warehouses, accommodations and production facilities required for proper operations.”

The Sangihe gold-silver project is located on the island of Sangihe off the northern coast of Sulawesi and has an existing National Instrument 43-101 inferred mineral resource of 114,700 indicated and 105,000 inferred ounces (oz) of gold. Only 10% of the gold bearing area has been explored. The company’s 70% interest in the Sangihe mineral tenement contract of work (CoW) is held through PT. Tambang Mas Sangihe (TMS). The remaining 30% interest in TMS is held by three Indonesian corporations. The term of the Sangihe CoW agreement is for 30 years upon commencement of the production phase of the project.