Kalimantan unveils strong results from KSK Copper Project

Kalimantan Gold Corp. saw it shares rocket on Tuesday morning after announces strong results from its ongoing delineation and scout drilling programs at its KSK Copper Project in Indonesia, together with plans for a substantial drilling and exploration programme at the project in 2013.

Kalimantan Gold Corp. saw it shares rocket on Tuesday morning after announces strong results from its ongoing delineation and scout drilling programs at its KSK Copper Project in Indonesia, together with plans for a substantial drilling and exploration programme at the project in 2013.

The programme has been budgeted up to $16.2m.

Drilling has so far intersected broad intervals of significant copper mineralisation, including 60.1m at 1.03% copper and 67.5m at 0.63% copper.

The preliminary resource estimate for Beruang Kanan is expected in the second quarter of the year.

The group also said that field mapping at eastern Beruang Tengah has identified strong sulphide mineralisation in outcrop, measuring 250 by 250 meters, and returned preliminary assays of up to 9.6g per tonne of gold from rock chip samples.

At the end of January, 17 out of 29 proposed holes had been completed at Beruang Kanan.

The group's share price rose 25.93% to 4.25p by 09:30.

NR

Recommended

Broker safety – your questions answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
How demographics affects stock valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Do you own shares in Sirius Minerals? Here’s what you need to do now
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020
Why investors should be “cautiously bullish” for 2020
Stockmarkets

Why investors should be “cautiously bullish” for 2020

Analysts have been out in force making rosy predictions for stockmarkets in 2020, but while there is certainly a case for optimism, investors should r…
17 Jan 2020

Most Popular

Here’s why you really should own at least some bitcoin
Bitcoin

Here’s why you really should own at least some bitcoin

While bitcoin is having a quiet year – at least in relative terms – its potential to become the default cash system for the internet is undiminished, …
16 Sep 2020
Will a second wave of Covid lead to another stockmarket crash?
Stockmarkets

Will a second wave of Covid lead to another stockmarket crash?

Can we expect to see another lockdown like in March, and what will that mean for your money? John Stepek explains.
18 Sep 2020
James Ferguson: How bad data is driving fear of a second wave of Covid-19
UK Economy

James Ferguson: How bad data is driving fear of a second wave of Covid-19

Merryn and John talk to MoneyWeek regular James Ferguson about the rise in infections in coronavirus and what the data is really telling us.
17 Sep 2020