KSK allocates $5 million for drilling activies
Tuesday, March 13 2012 - 06:15 AM WIB
Gold miner PT Kalimantan Surya Kencana (KSK), a wholly-owned subsidiary of Canada-listed company Kalimantan Gold Corporation Limited plans to start exploration activities targetting 15,000 meters total depth of drilling at its copper-gold project in Gunung Mas Regency, Central Kalimantan this year.
Kalimantan Surya Kencana's director, Mansur Geiger said that the company has set aside US$ 5 million to finance the activity.
"We are preparing to mobilize all the equipments to the site," Mansur told Petromindo.com on Tuesday.
He said that the planned exploration would undertake the drilling up to 1,500 meters depth at each target.
The company has secured an extension forest permit for 7,422 hectares on Monday paving the way for the company to proceed with the exploration plan.
Editing by Adianto P. Simamora