3D Resources commences due diligence

Australia-based company 3D Resources Limited has commenced the due diligence on a coal mining project in Kalimantan as mandated under a Memorandum of Understanding to acquire PT Aries It Indo.

Aries owns a promising coal mining project in South Kalimantan with its exploration and operation production permits covering 575.9 hectares and 153 hectares, respectively.

Existing drill data suggests the potential for developing 2 seams with 3:1 and up to 7:1 stripping ratios over much of the license area. The data suggests the coals are of reasonably high quality (+6000kcal/kg).

The Company has just completed the negotiation of a drilling contract to carry out shallow drilling on the project to verify previous drilling and data as part of its due diligence. (romel)