PETALING JAYA: Niche Capital Emas
Holdings Bhd’s wholly-owned subsidiary, Niche Capital Mining (Sejana) Sdn Bhd (NCMSSB), had inked a joint-venture (JV) agreement with Enrich Mining Sdn Bhd (EMSB) to undertake mining rights.
Under the agreement, NCMSSB was granted exclusive rights to develop, operate and carry out mining activities over an area measuring 97.12ha for an initial period of five years.
According to Niche Capital, the KK Hills site was independently assessed by RSC Consulting Ltd and was reported to have a mineral resource estimate of 7.64 million tonnes of ore at an average grade of 0.69g per tonne of gold.
This equates to an estimated 169,300 troy ounces of gold under the Joint Ore Reserves Committee Code (2012).
Niche Capital said the estimate took into account dilution, pit slope angles and a reference gold price of US$2,284 per ounce.
KK Hill is located within the 3,255ha Sejana Project in Jeli, Kelantan.
Strategically located adjacent to its existing mining operations at the Sokor gold mine in Kelantan, Niche Capital said the KK Hill site offers a significant boost in volume and quality compared to its current Sokor North resources.
Its Sokor gold mine holds an estimated 17,100 troy ounces of gold at an average grade of 0.40g per tonne.
The 1,830-ha site is managed by its other wholly-owned subsidiary, Niche Capital Mining Sdn Bhd.
Niche Capital said the proximity of KK Hill to its current operations allows the Sejana project to leverage existing infrastructure and technical capabilities, potentially accelerating project implementation.
Meanwhile, Niche Capital is also in the process of commissioning a heap leaching facility at Sokor, with plans to incorporate an agitation leaching system to enhance processing flexibility and broaden the range of ore types that could be efficiently treated.
Both KK Hill and Sokor are situated within Malaysia’s central gold belt, a region identified as a key geological zone for gold mineralisation.
The belt stretches across several east coast states including Kelantan, Terengganu and Pahang.
Niche Capital said the joint venture expanded its footprint in Kelantan’s gold belt and formed part of its broader strategy to grow its mining portfolio.
“Altogether, the JV represents a timely and calculated move to reinforce the sustainability and scalability of our gold mining operations,” it added.
It has been in the red for the past five financial years. The group posted a cumulative net loss of RM7.39mil for the nine- month period ended June 30.
