Austindo adds Indonesia gold exploration tenement
Friday, February 17 2006 - 01:41 AM WIB
Australian mining firm Austindo Resources Limited announced on Friday it had been granted a new gold exploration license in Trenggalek regency, East Java.
The new tenement which is called Trenggalek, has been granted under the mining license under PT. Sumber Mineral Nusantara. Austindo has 95 percent joint venture interest in the tenement.
The tenement, which covers the area of more than 17,000 hectares is prospective for low sulphidation epithermal gold/silver deposit similar to the company?s now-under-development Cibaliung gold project in Banten.
The company said it had undertaken surface exploration works within the area.
Austindo also has exploration interest in Pekalongan, Central Java and in Papua.(alex)