Challenger to start exploration at Tabang coal prospect

Calgary-based firm Challenger Deep Resources Corp. announced on Tuesday that the initial exploration program on its recently acquired Tabang Coal Project in East Kalimantan, will commence this week.

The program is designed to provide a comprehensive assessment of the coal resource potential of the property based on geological mapping, trenching, sampling of outcropping/sub-outcropping coal seams and geological interpretation, it said.

The duration of this initial program will depend upon the field conditions and results of the initial survey. The program is designed to identify and locate drill targets for the next phase of exploration.

Challenger Deep Resources Corp. announced in October that its unit P.T. Bestindo Energy, (Bestindo) it has entered into a conditional sales and purchase agreement (the CSPA) with PT Alam Tabang Raya Pratama (ATRP) for the purchase of 100% of the issued and outstanding securities of ATRP.

ATRP is a privately-held Indonesian company that holds the coal exploration rights to a property located in the Mahakam river basin in East Kalimantan.

The 2,900ha Tabang Project is located in the Tabang district, Regency of Kutai Kartanegara. (alex)