Sam?s Seafood begins drilling S. Kalimantan coal project

Australian firm Sam?s Seafood Holdings Limited (proposed to be renamed as Pan Asia Corporation Limited) said on Monday that it has assigned PT Maxidrill Indonesia to carry out drilling program at its Roda Niaga Coal Project in Batulicin, South Kalimantan.

?A contract has been signed with PT Maxidrill Indonesia for the drilling of up to seven diamond drill holes targeting high quality thermal coal deposits, which is expected to start within next few days,? the company said.

Up to seven HQ-3 diamond drill holes will initially be completed, focusing on the northwestern corner of the concession. This drilling program is designed to test the thickness, position and quality of these coal seams as they extend into Roda Niaga.

?Should this drilling return positive results, it is likely further drilling will be undertaken to delineate the size of the coal deposit contained within Roda Niaga to a JORC-standard,? it added.

The Roda Niaga Coal Project covers 6,412Ha and is prospective for thermal coal deposits, given its close proximity to a number of existing open pit coal mines.

The company holds 80% indirect control over the project through its unit Triumph West Pty Ltd. (denny)