Release: PT Inco: Monthly exploration report ? Oct 2005
Tuesday, November 15 2005 - 05:38 AM WIB
Jakarta, November 10, 2005 -- PT International Nickel Indonesia Tbk (PT Inco) is reporting that the exploration activities for the month of October 2005 is continue to focus on the area within the Contract of Work.
Exploration Area:
o Bahodopi in Central Sulawesi
o Larona area in South Sulawesi
Total Cost:
Estimated at US$242,800
Exploration Method:
o Core drilling HQ-3 size + 8" Large diameter drilling (for Bahodopi only)
Exploration Contractor:
The exploration is conducted by third parties and supervised by Mining Department of PT Inco
Testing Results:
o The second stage of drilling program at the Block-3 of Bahodopi for 2005-2006 program completed. We are continuing for the first stage of drilling program at Block-4 of Bahodopi.
o The first stage of drilling program at Larona are still continue. Some drill holes encountered 'good ore'.
Action Plan:
The activity is still ongoing. (end of release)