Realm found more resources at Central Kalimantan project
Monday, March 19 2012 - 05:01 AM WIB
Australia-listed firm Realm Resources Ltd has announced a 29 percent increase in the JORC coal resources to 102.2 mt on its flagship Katingan Ria Project.
Katingan Ria is located approximately 100km to the north west of the city of Palangkaraya , the regency capital of Katingan in Central Kalimantan . The concession area covers approximately 4,250 ha.
Importantly, the project is permitted to allow mining operations (IUP OP) to commence upon completion of the upgrade of the forestry permit (Izin Pinjam Pakai) which was received in June 2011.
Realm currently holds 51 percent of Katingan Ria and has an option to expand its ownership of the project to 75 percent subject to completion of its study work and satisfaction of remaining conditions precedent.
The Company completed concept study work in October 2011. Due to the advanced state of the project and proposed short path to production, Realm immediately proceeded to undertaking a feasibility study into developing an open cut coal project in a number of stages.
Realm completed its Phase 2 exploration program in February with the majority of the laboratory test work now received.
The results of the Phase 2 exploration and quality program form the basis of this upgrade to the coal resources.
To date, the company has drilled 42 holes for a total of 2,844m.
Coal resources within the project have been found to occur in 3 seam groups, upper seams: B,C,D, main seam and lower seams: Nos. 2 and 3
An east west striking fault is interpreted to divide the site, with vertical displacement of approximately 50m and possible lateral displacement to the east. The upper seams are generally intersected in the north.
Editing by Er Audy Zandri