Release: PT Inco monthly exploration report for July 2008
Thursday, August 14 2008 - 06:26 AM WIB
Exploration Area :
? Bahodopi in Morowali Regency, Central Sulawesi
? Pomalaa in Kolaka Regency, South East Sulawesi
? Matarape in North Konawe Regency, South East Sulawesi
? Latao in North Kolaka Regency, South East Sulawesi
? Sorowako and North Lasobonti in East Luwu Regency, South Sulawesi
Total Cost: Approximately US$796,000
Exploration Method :
? The Bahodopi Project uses the core drilling method HQ-3 method with 50 meter and 200 meter grid pattern
? The Pomalaa Project uses the core drilling method HQ-3 method with 100 meter and 50 meter grid pattern
? The Matarape Project uses core drilling method HQ-3 with 400 meter grid pattern
? The North Lasobonti project uses cored drilling method HQ-3 with 400 meter grid pattern
? The Petea Project Sorowako uses core drilling method HQ-3 with 50 meter spacing
? The Latao Project is detailed mapping, hand auger and core drilling
Exploration Contractor :
? Bahodopi, Matarape, North Lasobonti, Petea, Pomalaa and Latao Projects are carried out by PT Inco and third parties
Testing results:
? Testing results is in the process of reserves estimation calculation by block modeling method
? Bahodopi project continue the drilling with 50 meter spacing in block 1A, uses 5 rigs and block 1G with 5 rigs
? Pomalaa project continue the drilling with 100 meter spacing in block 4, and 50 meter spacing in block 1 uses 13 rigs
Action Plan:
? Petea project continue its drilling of 50 meter spacing in Sorowako area with 4 rig, Lasobonti North project continue its drilling in North Lasobonti with 400 meter spacing stagger with 5 rig, matarape project continue its drilling in Kolonodale with 400 meter spacing stagger with 4 rigs
? All drillings are planned to obtain complete laterite profile
? Latao Project will be doing its directional drilling, uses 1 rig. (end of release)