Merdeka Gold approves US$11.4 million for Pani exploration in 2027
The programme will fund 50,000 metres of drilling at Pani and nearby targets, but the latest findings do not constitute new mineral resource or ore reserve estimates.
PT Merdeka Gold Resources Tbk (EMAS) has approved a 2027 exploration budget of US$11.4 million, or about Rp206.39 billion, following what it described as positive drilling results at the Pani gold mine in Pohuwato regency, Gorontalo, Indonesia.
The company said findings from Pani Deep, Pani Gap Area and Kolokoa indicated gold mineralisation and opportunities to expand Pani’s mineral resources. In a written statement cited on 29 October 2026, president director Boyke P. Abidin said mineralisation had been identified beyond some boundaries of the existing resource model.
The budget will support 50,000 metres of drilling at Pani and surrounding exploration targets. The programme will focus on developing mineral resources, testing extensions to known mineralisation and investigating other exploration opportunities. Boyke said follow-up drilling would systematically test the potential identified.
Merdeka Gold cautioned that the latest drilling findings remain exploration results, rather than new mineral resource or ore reserve estimates. Further drilling and technical assessment are needed before potential mineralisation outside the current model can be included in a future mineral resource estimate.
