Kangaroo plans new drilling program at GPK coal concession
Friday, October 28 2016 - 02:24 AM WIB
ASX-listed Kangaroo Resources Limited said on Friday it has prepared and refined a detailed exploration program for the PT Graha Panca Karsa (GPK) concession in East Kalimantan and issued a tender to various contractors for drilling and geophysical logging services.
The company said in a statement that the planned drilling program, expected to commence by January 2017, comprises approximately 1,830 meters of drilling (including 344m of coring) and 42 drill holes. All drill holes will be geophysically logged.
The aim of the drilling program is to confirm previous drilling works performed on the site and gain a better understanding of the coal seam geology.
Concurrent with the planned drill program, the company said it will undertake survey work to fill in some gaps in the topographical information.
The company said it is currently in the process of socializing the impending drilling program to the surrounding communities and will award the drilling and geophysical logging contracts upon its completion.
The Graha Panca Karsa (GPK) concession covers 5,060 Ha near Melak, East Kalimantan. Large coal deposit strategically located in close proximity to the Mahakam River.
Elsewhere, Kangaroo said it will commence a drilling program at Tiwa Abadi (TA) concession, also in East Kalimantan, once the required permit has been obtained.
?It is the company?s aim to commit to and commence at drilling program in TA as soon as it has completed the regulatory permitting required to do so,? the firm said.
TA shares a common northern border with coal mining company Bayan?s Bara Tabang concession which has been extensively drilled whereas TA has only 11 drill holes across the whole concession (5,000hectares).
The company said it has applied to the regional government for an exploration Borrow and Use (Pinjam Pakai) forest area permit, however, this is currently being delayed due to the regional government issuing a moratorium on new PinjamPakai permits until April 2017.
Editing by Reiner Simanjuntak