Strike Resources to divest stake at Banten copper/gold project
Monday, October 29 2007 - 04:14 AM WIB
?The company has determined that this project is not a core asset and intends to divest its interest in due course,? the company said in annual report released Monday.
This project comprises a 5,601 hectare concession located approximately 100 kilometres south-west of Jakarta. Strike has identified epithermal gold veins, gold stock works and associated porphyry copper targets within the concession.
The company?s unit PT Indo Batubara (PTIB) completed a 126.4 metre, three hole diamond core drilling programme in August 2007, targeting epithermal gold and skarn base metal mineralisation, within the concession area.
The drilling results show high grade intersections in SMDD002 averaging 3.6% Zinc from 5 to 10 metres and 28g/t Silver from 0 metres to 10 metres.(denny)