EMAS Adds Kolokoa Maiden Resource, Pani Gold Inventory Rises to 7.4 Million Ounces
PT Merdeka Gold Resources Tbk (EMAS) has announced its maiden Mineral Resource Estimate (MRE) for the Kolokoa Prospect, strengthening the company’s long-term gold production outlook.
The Kolokoa Prospect is located approximately 500 meters from the Pani Gold Mine area in Pohuwato Regency, Gorontalo. The new discovery adds significant gold resources to EMAS’ growing mineral inventory.
Based on the estimate as of June 1, 2026, Kolokoa contains mineral resources of 42 million tons with an average grade of 0.33 grams of gold per ton, equivalent to around 445,000 ounces of gold.
The latest estimate increases the total mineral resource inventory of the Pani Gold Mine to approximately 7.4 million ounces of gold, up from the previous 7 million ounces. The addition represents an increase of roughly 6%.
President Director of Merdeka Gold Resources, Boyke Poerbaya Abidin, said the company completed the maiden mineral resource estimate for Kolokoa within a relatively short timeframe.
“Within six months, we successfully established a maiden mineral resource containing 445,000 ounces of gold,” Boyke said in an official statement on Monday (June 8, 2026).
According to Boyke, the result supports the company’s long-term production growth strategy, including plans to increase peak production capacity.
“This achievement supports EMAS’ long-term production growth strategy, including plans to increase peak production to 500,000 ounces per year,” he stated.
The Kolokoa resource estimation program was carried out from November 2025 to April 2026. The program included 54 drill holes totaling 11,701.6 meters.
Initial metallurgical testing using the bottle-roll method showed high gold recovery rates for oxide material, ranging from 87% to 94%.
Meanwhile, transition material recorded recovery rates between 81% and 92%. Boyke noted that these results support Kolokoa’s compatibility with the current Pani Gold Mine operations.
EMAS management believes the Kolokoa mineral resource still has strong expansion potential. Gold mineralization remains open toward the north, south, and deeper layers.
In addition, the company plans to use the Kolokoa geological and resource model to support further drilling activities, metallurgical studies, and future mine planning.