Pelsart to obtain JORC-compliant reserves for S. Kalimantan gold project

ASX-listed explorer Pelsart Resources NL will obtain JORC-compliant resource and reserves estimate at its Mirah gold project in South Kalimantan.

The company said it had commissioned a consultant for the work.

The JORC-compliant reserves is part of the condition set by potential lender that is currently conducting due diligence on the project. The project is currently at construction stage.

The company also said that submission had been made to the Ministry of Energy and Mineral Resources for approval of study phase at its Timburu gold project, also in South Kalimantan. ?This will involve completion of Pre-Feasibility Study, including a metallurgical test work programme,? the company said. (alex)