Kalimantan Gold to conduct IP at C. Kalimantan copper, gold prospect
Thursday, June 23 2005 - 12:41 AM WIB
TSX Venture Exchange-listed prospector Kalimantan Gold Corporation Limited announced Wednesday it would conduct an Induced Polarization (IP) and geochemical survey over the entire 6 by 4 kilometer area of its Greater Baroi copper and gold prospect in Central Kalimantan using the US$830,000 fund it planned to raise through private placement.
The company also said that it had also collected sediment samples in Liang Bulau prospect, which had been tested for gold and base metal mineralization.
According to the company, assay results have identified four discrete gold anomalies and three discrete silver anomalies with both of these elements displaying corresponding base metal anomalies. There is also one strongly anomalous copper zone.
Kalimantan Gold Corporation Limited has a 75% interest in the 124,200-hectare KSK Contract of Work located in Central Kalimantan, Indonesia. Baroi and Liang Bulau are two of 38 prospects identified within the KSK CoW and are currently the main exploration focus of the Company. (alex)