Merdeka Gold Digs Deeper to Unlock Indonesia’s Next Massive Gold Reserve

Caption—Boyke P. Abidin, President Director of PT Merdeka Gold Resources Tbk, delivers opening remarks during the company's initial public offering listing under the ticker EMAS at the Indonesia Stock Exchange in Jakarta on Monday, September 23, 2025. Photo: Investortrust/Dicki Antariksa

JAKARTA, Investortrust.id — PT Merdeka Gold Resources Tbk (EMAS) has launched a 3,600-meter (approx. 11,811 feet) deep diamond drilling program at its Pani Gold Project. The exploration campaign aims to test the potential extension of high-grade mineralization at deeper, previously uncharted levels.

The deep-drilling initiative could significantly expand the mineral resource baseline at Pani, which currently boasts an estimated reserve of roughly 7 million ounces of gold.

As global central banks pile into gold and economic uncertainty keeps bullion prices near record highs, securing massive, untapped deposits has become a critical race for mining firms across Southeast Asia. Merdeka Gold’s aggressive push into deeper subterranean strata reflects a broader industry reality: the easily accessible, near-surface gold is dwindling, forcing operators to deploy expensive deep-drilling technologies to prove long-term asset scalability to global investors.

The Pani Gold Project holds an estimated mineral resource of 291.5 million metric tons (approx. 321.3 million short tons) grading 0.75 grams per metric ton (g/t) of gold. This substantial volume, which yields the 7 million ounces of gold, forms the cornerstone of the company’s long-term production pipeline.

Notably, this current resource estimate is derived from an exploration footprint of just 135 hectares (approx. 334 acres)—a tiny fraction of the company’s expansive 14,670-hectare (approx. 36,250 acres) total concession area.

Venturing Beyond Historic Boundaries

Merdeka Gold stated that previous exploration data indicated strong signs of mineralization continuing well outside the boundaries of its historic drilling programs. Consequently, the newly designed diamond drilling campaign will evaluate whether the known ore body expands significantly at depth.

The initial phase of the program consists of six deep drill holes. The company has already deployed and activated one drilling rig on-site, with a second rig scheduled to begin operations in June 2026.

If early core samples return positive results, the company—a subsidiary of the prominent mining conglomerate PT Merdeka Copper Gold Tbk (MDKA)—plans to scale up the drilling operation significantly.

"As commercial production commences at Pani, the company is now in a highly strategic position to test deeper mineralization extensions through these six meticulously planned drill sites," Boyke Abidin, President Director of Merdeka Gold Resources, said on Friday, May 29, 2026.

Pipeline Expansion and Geophysical Mapping

According to Abidin, the campaign is designed with built-in flexibility, allowing for rapid expansion if initial core assays show strong commercial promise. Beyond the main Pani site, the company has concluded a preliminary drilling program at its Kolokoa prospect, sinking 54 drill holes totaling 11,701.6 meters (approx. 38,391 feet).

Over a six-month period and at a cost of roughly $2.4 million, Merdeka Gold established an exploration target for Kolokoa ranging between 20 million and 40 million metric tons, with grades averaging between 0.3 g/t and 0.5 g/t of gold. "These results clearly demonstrate the potential for satellite resource growth," Abidin noted.

Management is preparing a maiden mineral resource estimate for the Kolokoa site, which it aims to publish by the second quarter of 2026. The company's broader exploration program will expand further in the second half of 2026 when drilling begins at the Lone Pine prospect.

To complement the drill programs, Merdeka Gold will launch advanced regional geophysical surveys in June or July 2026. These will feature helicopter-borne mobile magnetotelluric and airborne magnetic surveys to map deeper crustal structures.

"Further data and technical updates will be disclosed once material assay results become available and undergo rigorous verification under standard reporting frameworks, including the international JORC Code 2012 and Indonesia's KCMI 2017," Abidin concluded.