Sihayo Gold Limited (ASX:SIH) Sihayo owns a 75% interest in the highly prospective Sihayo-Pungkut 7th generation Contract of Works (CoW) located in North Sumatra in the Republic of Indonesia.
Indonesia holds some of the significant mineral deposits including coal, copper, gold, tin, bauxite and nickel. The country houses premium gold assets like Grasberg, Tujuh Bukit, Batu Hijau and Martabe. The government of Indonesia has introduced several amendments to its mining laws to promote the industry, making Indonesia one of the world-class mining jurisdictions.
The CoW area is highly prospective for gold and base metals, and the Company has identified several prospects on the tenure and is advancing with extensive exploration and drilling plans.
The Company has devised a three-tier exploration strategy to progress on the exploration front. Two high-grade projects have been identified on the tenure – Sihayo Starter Project and Hutabargot Julu Project. As part of this strategy, the Company is also focusing on regional exploration activities to increase the resources on the CoW.
Sihayo holds a highly prospective and long-life tenure with greenfield and brownfield potential. The tenure is allocated till the year 2049 with a possibility of two additional 10-year extensions. The Company enjoys strong in-country partnerships and significant cash reserves to execute its long-term development strategy.
The company is led by an experienced management team, steering Sihayo on a growth path.