Drilling at the Kalimantan Gold–Freeport joint venture in Indonesia’s Central Kalimantan is set to begin, after an extension to the expired forestry permit at the PT Kalimantan Surya Kencana (KSK) property was issued. Equipment has been mobilized to the copper porphyry site with a deep drilling program defined and drill rigs set to commence operations.
This initial forestry permit will allow the companies to drill test key prospects at Beruang Tengah, Beruang Kanan and Tembang Huoi, as well as resource definition drilling in 34 planned holes at Beruang Kanan.
“The issuance of the forestry permit is an important milestone that will enable the project’s substantial deep drilling program with its world-class JV partner, Freeport to rapidly get underway,” says Kalimantan Gold’s chief executive officer Faldi Ismail.
“One of our key strengths is our ability to manage the complex regulatory process related to our exploration projects. Receipt of the forestry permit is evidence of the strength, dedication and depth of our Indonesian experience.”
Kalimantan Gold says the main focus of the US$3 million exploration program will be the drill testing of the deeper porphyry copper targets identified at the 7422 hectare KSK property. Recent advanced inversion modelling by Freeport identified numerous massive deep-seated magnetic bodies below extensive surface geochemical anomalies and existing drill holes where copper mineralization was present.
Previous drilling results at Beruang Kanan include intersections of 167 metres @ 0.59% copper from 4.5 metres, 79 metres @ 0.89% copper from 6.5 metres and 102 metres @ 0.62% copper from 3 metres.
The company appreciates the patience and support of the local government and community during the drawn-out permitting process. Faldi Ismail says he looks forward to working with the Forestry Minister to secure permitting over the remaining prospective areas of the KSK contract of work area.
INDONESIA