Kalimantan Gold completes deep drilling at C. Kalimantan copper-gold prospect
Friday, April 28 2006 - 03:57 PM WIB
Vancouver-based junior explorer Kalimantan Gold said Friday that a deep drilling program it recently completed at the Far East Zone (FEZ) of the Baroi copper and gold prospect in Central Kalimantan had confirmed its belief that the prospect is a huge low grade bulk tonnage target that also contains significant zones of high grade mineralization.
"The program has upgraded the prospect and has prepared the way for the Company to negotiate a favourable joint venture agreement with a major mining company, the company said in a statement.
The company has a 75% interest in the KSK Contract of Workw hich covers an area of 121,620 hectares in
Central Kalimantan. Baroi, one of 38 prospects identified within the KSK CoW, has been the main exploration focus of the Company. (alex)