Richfield to start drilling Sulawesi molybdenum prospect August

ASX-listed junior exploration firm Richfield Group Limited said on Wednesday it would start drilling operations in its Malala molybdenum project in central Sulawesi in August 1, 2008.

?The company has full team ready and resources mobilised ,? the company said in a statement.

The company said in December 2007 announcement that it would acquire 75 percent shares of Victory West Pty. Ltd., a company having right to exploration and exploitation of molybdenum in Indonesia. Victory West through its Indonesian subsidiaries had acquired five exploration-mining leases where previous exploration works had been carried out by Rio Tinto with expenditure of US$20.5 million.(denny)