PT Inco: July 2010 exploration report
Thursday, August 12 2010 - 04:06 AM WIB
Jakarta, August 12, 2010 ? PT International Nickel Indonesia Tbk (?PT Inco?) is reporting that the exploration activities for the month of July 2010 continue by focusing on areas inside the Contract of Work area.
Exploration Area: Konde, Sorowako area and Petea Block B1 in East Luwu Regency, South Sulawesi
Total Cost: Approximately US$ 61,000
Exploration Method: The Konde Project and Petea Block B1 are uses the core drilling HQ-3 method for geostatic drilling program and space 25m
Exploration Contractor: Sorowako Project is jointly carried out by PT Inco and third parties
Testing results:Testing results are in the process of reserve estimation calculation by using block modeling method in Sorowako
Action Plan:
- Sorowako Project Area 25m spaced drilling continued in Konde and Petea (Sorowako area) with 20 rigs and 4 rigs
- All drillings are planned to obtain complete literate profile. (end of release)