Olympia Resources updates Kalimantan zircon projects
Friday, May 2 2008 - 02:33 AM WIB
KALIMANTAN ZIRCON PROJECT
Construction of the Sampit processing plant was completed in January 2008 and it was commissioned in February. Zircon concentrate will be purchased from the local artisan miners to feed the plant until the Company has identified its own resource.
The plant has been operating on day shift during the commissioning and early stages of production. The Chinese designed and built plant has generally been operating well and is producing good quality zircon. An electrical problem caused the plant to be non operational for the last two weeks in March whilst a replacement part was obtained, but this is not expected to cause any downtime in the future. Sales enquiries have been received from as far away as Brazil and demand remains strong, especially in China. Samples have been forwarded to prospective customers and sales will be completed in the forth quarter.
Zircon Production for the Quarter: 99.6 tonnes
Zircon Sales for the Quarter: nil
KALIMANTAN EXPLORATION
Exploration during the last three months has been directed with three objectives:
? Identifying resources for treatment at the Sampit plant
? Identifying a resource in the Sambas district
? Gaining authorisation to explore in areas of potential.(end of excerpt)