Rubicon completes soil sampling in RI gold project
Tuesday, April 10 2012 - 01:55 AM WIB
Australia-listed Rubicon Resources Limited announced that it has completed soil sampling on Pelaik-Selunga prospects within Block I at the Kapuas Hulu gold project in West Kalimantan.
It said that the company has collected 600 samples on Block I with a further first pass program of 80 samples will commence shortly over the Empuluh target on Block II.
?Once the assay results on Block I have been reviewed some limited infill sampling and mapping will be conducted to finalize areas for drill testing? the company said in its Exploration Update report of New Canobie Joint Venture and Kapuas Hulu Progress.
Rubicon Resources announced earlier in February that it had signed a term sheet with Indonesian company PT Hasil Kharisma Alam (HKA) to enter into a joint venture agreement on the Kapuas Hulu Gold Project in Kapuas Hulu in West Kalimantan. The project hosts several advanced gold prospects that require follow-up exploration and initial drill testing.
Rubicon Resources also reported on its April 10 Update that it has signed an option to enter into a joint venture agreement with Exco Rsources Limited over a 245km2 base metal and gold prospective Canobie tenement in North Queensland.
Editing by Adianto P. Simamora