Australia?s Herald acquires new copper and gold prospect in Aceh

Australian mineral explorer Herald Resources Limited said on Friday it had applied for new mining area of 105 km2 in Gayo Lues Regency, in the central part of Aceh, where indication of both copper and gold had been found.

?A right to conduct preliminary exploration prior to contract signing, has been granted, commencing on the first of January 2003. The management is looking at various alternatives to fund exploration on this project and has not ruled out separate listing if preliminary work confirms its potential,? Chairman Terry Allen said when addressing company?s general annual meeting in Perth.

Herald had been engaged in zinc-lead exploration in Dairi regency, North Sumatra and had been able to strike world-class deposit. (alex)