Challenger confirms potential thermal coal in DPK project
Tuesday, February 14 2012 - 01:50 AM WIB
Canadian junior firm Challenger Deep Resources Corp. announced that assessment of coal sample from exploration of its newly-acquired coal miner PT Dua Putri Kutor (PT DPK) confirmed the potential of high quality thermal coal on the latter?s property in Mangkupa formation.
PT DPK is a privately-held Indonesian company that holds the coal exploration rights in area of 12,830 hectares located in Sangatta area in East Kalimantan, The so-called DPK Project covers Mangkupa, Kedango, Lembak, Balikpapan and Pulau Balang Geological Formations.
"We are very excited about the high-quality thermal coal discovered on the DPK property and its potential for coking coal discovery as we continue to explore in this new project area," Ranjeet Sundher, President and CEO of Challenger said in the statement.
The company also reported the updated progress of ongoing works to obtain production license for the Tabang Project.
"We are also pleased to be able to report on the substantial progress made in the production licensing phase of our ATRP property as the initial phase of our Tabang Project development," said Ranjeet.
It said that the company had completed documents required to manage production licenses such as exploration report and feasibility study.
?The AMDAL study involves multiple stages, the more significant of which is the socialization study which has been completed. The remaining phases of this report are currently being prepared,? the company said.
Editing by Adianto P. Simamora