Kalimantan Gold obtains permit extension for KSK CoW
Monday, May 13 2013 - 01:10 AM WIB
Calgary-based Kalimantan Gold Corp. Ltd. reported that it has been granted a further extension to the Forestry Permit for its PT Kalimantan Surya Kencana (KSK) sixth generation Contract of Work (CoW) for its copper prospect in Central Kalimantan.
The Forestry Borrow to Use extension now covers all the priority areas sought when the application was made in autumn 2012 including the Tumbang Huoi, Baroi and Mansur prospects, which are historically three of the most prospective exploration targets within the CoW, the company said in a statement obtained Monday.
Fieldwork and mobilization of equipment will commence immediately on all of the newly permitted prospect areas, Kalimantan Gold said.
?The granting of the Forestry Permit extension is a major development. It enables us to now test drill all of our targeted areas within the CoW, and maximizes the scope for a successful outcome to our substantial exploration program.? Faldi Ismail, CEO of Kalimantan Gold said.
The statement further explains drilling updates as follows. The company said it has received formal confirmation from the Ministry of Mines approving the KSK 2013 exploration and work program.
The deep drilling program has been completed at Focus One and drill pads are now being prepared at the gold-rich Mamuring Prospect. The second deep rig is drilling hole BKD04-01 at South Beruang Kanan.
Two shallow holes have been completed at Rinjen and a third hole is commencing. Shallow drilling to 300m is underway at Beruang Kanan on drill hole BK051-01.
Kalimantan Gold has purchased a new drill rig which will be mobilized to the KSK CoW in May. The drill pad for the new rig at Beruang Tengah Bukit Dea zone to test further high-grade gold surface anomalies to 600 meters has been completed. Two 600 meters drill holes are also planned at the Beruang Low Zone copper gold porphyry target and locations have been selected.
Surface mapping and sampling has recently been completed at the Volcano, Rinjen, Focus One, Mamuring, Ketambung, Low Zone, and Bukit Dea prospects. Surface mapping is underway at Beruang West Zone where high-grade copper samples were recovered in previous surveys.
Long line (4km) IP surveys are in progress over the Beruang Kanan, Low Zone and Beruang Tengah prospects. The permitting process for airborne gravity and high resolution magnetics geophysical surveys covering the entire CoW is ongoing and progress is being made.
An in-house resource estimate has commenced for Beruang Kanan, covering all delineation drilling to date up to hole to BK49-01.
The company also announced that a Clean and Clear certificate for PT Jelai Cahaya Minerals (JCM) has been received by JCM from the Ministry of Mines. The ?Clean and Clear? status indicates the Mining Business Permit (IUP) has complete documents and no overlapping areas with other concessions. The license has satisfied the requirements of Law Number 4 Year 2009 and the Governmental Regulation Number 23 Year 2010, which relates to the overlapping of prevailing IUPs. For Clean and Clear IUP holders, the Government awards a Clean and Clear certificate.
Editing by Reiner Simanjuntak