Kalimantan Gold : New permit extends drilling programme

AIM-listed Indonesia-focused mining company Kalimantan Gold has been granted a further extension of the Forestry Permit for its PT Kalimantan Surya Kencana (KSK) sixth generation contract of work.

The company reported that the extension covered all the priority areas sought when the application was made in autumn 2012. This included the Tumbang Huoi, Baroi and Mansur prospects, which the company said were historically three of the most prospective exploration targets within the contract of work.

Faldi Ismail, Chief Executive Officer of Kalimantan Gold, commented: "The granting of the Forestry Permit extension is a major development. It enables us to now test drill all of our targeted areas within the contract of work, and maximises the scope for a successful outcome to our substantial exploration program."

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Kalimantan Gold's share price was up 6.45% to 4.12p at 09:44 on Thursday.

MF