The first drill hole in a new program targeting high grade shoots at Kalimantan Gold’s Jelai joint venture in East Kalimantan has been completed. The first phase of drilling will comprise 30 holes across 8000 metres.  1

The company says it is hoping to confirm mineralization at a depth below the epithermal gold-silver mineralization intersected by a previous drill hole which returned 9.5 metres @ 7.08 grams/tonne gold. Jelai is a joint venture between Kalimantan Gold and Tigers Realm Metals.

Kalimantan Gold’s chief executive officer Faldi Ismail says the drill camp construction and repair of roads at Jelai are almost complete, with a base camp at the main Mewet prospect also near completion. A water quality sampling survey has been completed, as part of the company’s environmental baseline monitoring program.

In other news, the company has agreed on a revised timetable for the development of the its other joint venture with Freeport-McMoRan - the KSK Copper Project. The schedule has taken into account the 10-month delay in obtaining the forestry permit.

Safety training for staff has been completed and field crews have been mobilized to the Beruang camps where drilling is expected to start at two high priority sites (Beruang Kanan and Beruang Tengah) by the end of the month.

In February this year, Kalimantan Gold received full support from the local government, community and village leaders to continue the planned exploration activities at the Jelai gold project. Kalimantan was granted permission to explore 11 of the Jelai gold prospects covering 4675 hectares by the Indonesian Forestry Minister in November 2011.

www.kalimantan.com

Resource Center Whitepapers, Videos, Case Studies

Conferences & Events

No events