Kalimantan Gold acquires 100% ownership of KSK COW

Vancouver-based junior explorer Kalimantan Gold Corporation Limited announced on Friday it has completed the acquisition of the remaining 25% interest in its Kalimantan Surya Kencana Contract of Work (KSK COW) that it did not already hold.

The company said the acquisition simplified the KSK corporate structure.

In anticipation of the acquisition completion, a confidentiality agreement has been executed with a major mining company and a detailed data review is currently underway as the first step towards a possible joint venture agreement, the company said.

KSK COW is a 941 sq km 6th generation Contract of Work comprising a total of 38 mineral prospects located in Central Kalimantan. Of the 38, Kalimantan Gold has identified several of which it considers to have the potential to host world class copper-gold porphyry deposits, it claimed.(alex)