Merdeka Gold Resources (EMAS) Allocates USD 11.4 Million for Pani Gold Exploration in 2027
Fri 30 Oct 2026, 16:03 PM
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PT Merdeka Gold Resources Tbk (EMAS) approved an exploration budget of USD 11.4 million for 2027, following positive drilling results at the Pani Gold Mine in Pohuwato Regency, Gorontalo. The drilling activities identified indications of gold mineralization across three areas: Pani Deep, Pani Gap Area, and Kolokoa.
The drilling results provide a basis for the company to further investigate potential gold mineralization extension and assess opportunities to expand mineral resources surrounding the main Pani deposit.
President Director of Merdeka Gold Resources, Boyke P. Abidin, stated that the findings present opportunities for further exploration.
"Mineralization continues to be identified beyond certain boundaries of the current resource model, while results from other areas indicate additional exploration opportunities surrounding the main Pani deposit," Boyke said in an official statement on Thursday (October 29, 2026).
He added that follow-up drilling would be conducted systematically to strengthen the company's mineral resource base and support its long-term growth.
At Pani Deep, drilling intersected gold mineralization both within and below the established mineral resource area. One drill intersection returned 193 meters grading an average of 0.94 grams of gold per tonne, including a higher-grade interval of 124.9 meters averaging 1.31 grams of gold per tonne.
Additional drilling identified gold mineralization approximately 65 meters below the current mineral resource boundary, suggesting that the Pani gold mineralization system may extend further at depth.
Meanwhile, drilling at the Pani Gap Area, located south of the main Pani deposit, identified a broad zone of gold mineralization relatively close to the surface. The mineralized system remains open to the southwest, warranting further exploration and testing.
At Kolokoa, the second phase of drilling once again intersected gold mineralization both within and beyond the boundaries of the initial mineral resource announced in June 2026. The company plans to continue drilling to determine the extent and continuity of mineralization, providing a basis for future updates to the area's mineral resource estimate.
With the USD 11.4 million exploration budget allocated for 2027, EMAS plans to undertake approximately 50,000 meters of drilling across Pani and several surrounding exploration targets. The program will focus on mineral resource development, testing potential extensions of known mineralization, and evaluating additional exploration targets.
The company emphasized that the latest drilling results remain exploration findings and do not yet constitute new mineral resource or ore reserve estimates. Further drilling and technical assessments will be required before mineralization identified beyond the current resource model can be incorporated into future mineral resource estimates
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