Kingsrose sets aside A$14m for expanding exploration works

Australian mining firm Kingsrose Mining Limited said it will set aside A$14 million for work expansion on its mineral explorations at its Way Linggo gold project in Lampung, Sumatera.

It said the drilling so far has been prioritized in five areas, namely Way Linggo-Way Sapta, Talang Santo, Semung Kecil, Roworejo and Petai Kayu.

However, the company is carrying out evaluation for possible drilling in three more targets, namely in Rawa Gabus, Curing and Way Handa.

The company has mobilized 12 rigs in the area. The rigs are managed by 6 field teams.

At Roworejo prospect, the company has identified outcropping breccias and a hot spring in the area after drilling 1 hole at a measure depth of 307 meters.

Semung Kecil prospect is geologically similar to Way Linggo and highly prospective. The company has conducted geological mapping and geological re-interpretation of data. Drill rig has been mobilized by helicopter to drill first hole.

Kingsrose owns Way Linggo mining through 85-percent owned PT Natarang Mining. Businessman Herryansjah owns the other 15 percent of PT Natarang Mining. (roffie/romel)