BDI Mining Corp adds Indonesian diamond tenement
Friday, January 27 2006 - 02:15 AM WIB
London Stock Exchange-listed miner BDI Mining Corp. announced Thursday the lodging of an exploration application covering 29,000ha in the Martapura region of South Kalimantan 3km north of BDI's operating Cempaka diamond mine.
The tenement covers an interpreted diamondiferous palaeochannel, similar in both geological setting and dimensions, to the Cempaka Palaeochannel immediately to the south. This prospect is believed to consist of alluvium derived from the same hard rock source that contributed to the Cempaka diamond deposit which BDI Mining is now mining.
In accordance with Indonesian regulations, BDI Mining Corp will hold a 90% interest in the area, with 10% held by local company PT Indomineratama. Both companies are also joint venture partners on the on the potential source of the alluvial diamond deposits, the Bobaris Block project. (alex)