Palace reports updated drilling Program on KCM Project

By Puspita Maylana Devi

ASX-listed Palace Resources Ltd reported on Wednesday that KCM project has commenced a 1,000 meter drilling program on the property.

The drilling program has been progressing steadily with coal intercept results of;
? DH 07 intersected 4 meters of coal at a depth of 15.72 meters to 19.65 meters
? DH 04 intersected three coal seams of approx. 0.4 meters in width each from a depth of 8.55 meters down hole
? DH 02 intersected 1 seam of 1 meter from a depth of 15.5 meters

Palace recently completed an MoU to enter into a potential coal production agreement with PT. Solusi Coalindo.

Solusi Coalindo holds a 100% interest in a coal exploration project (KCM Project) which comprises approx. 200 hectares, which is part of a larger 4,000 hectare Coal Contract of Works (CCOW) in South Kalimantan.

Editing by Adianto P. Simamora