Hillgrove enters Indonesian gold exploration venture

Australian mining firm Hillgrove Resources Limited said on Thursday that it had entered gold exploration initiative in Sumba island, East Nusa Tenggara following the award of general survey license (KP) to PT.Fathi Resources.

An Indonesian subsidiary of Hillgrove will undertake exploration works, feasibility study if justified and steps to advance the KP to exploration status in return for an indirect 80 percent interest .

The area, which covers 3,313 kms2, was previously explored by BHP under the sixth generation Contract of Work. Exploration works conducted by BHP identified three main project areas which coincided with tertiary volcanic and intrusive; Amboy in the west, Tenaha Dario in central north Samba and Mash in the south east.(Alex)