Coziron in W. Sumatra copper-gold project negotiation
Friday, April 20 2007 - 01:39 AM WIB
Australian Stock Exchange-listed junior exploration firm Coziron Resources Limited announced on Friday it had completed due diligence on the Singkarak copper-gold project in West Sumatra.
The company said negotiation to formalize joint venture is currently ongoing with Indoensian partners PT.Intan Borneo International and PT.Punakawan Sumatera International.
The Singkarak tenement consists of two tenement blocks covering areas of over 212km2 in Solok regency, approximately 75 kilometres from the province?s capital of Padang.
Immediate follow up work is warranted once a JV agreement has been satisfield, and includes soil sampling, auger sampling and heli-borne radiometric, electromagnetic and magnetic geo-physical works, said the company.
Some part of the tenements had been earlier explored by Rio-Tinto Betlehem and Cambrige Mining Group, the company said. (alex).