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- Cokal (CKA) prepares begin drilling at its Tambang Benua Alam Raya (TBAR) lease area in the Puruk Cahu Regency of Central Kalimantan, Indonesia
- Tenders have been called and once engaged will drill and assess the most prospective 500 hectares of the lease
- Work is expected to begin in Q4 and be completed in the first half of 2022 and will consist of open hole drilling, coring and geophysical logging
- This will be the first of several drilling programs undertaken at TBAR to outline coal seams and it will provide information required for initial mine planning
- Cokal is up 5.26 per cent on the market with shares trading at eight cents at 12:27 pm AEST
Cokal (CKA) is set to begin drilling at its Tambang Benua Alam Raya (TBAR) lease area in the Puruk Cahu Regency of Central Kalimantan, Indonesia.
The company’s TBAR lease covers 18,850 hectares and an extensive coal resource has been identified.
An access road being developed for the Bumi Barito Mineral (BBM) coal mine pits has almost reached the TBAR lease — allowing work to begin.
Tenders have been called, and once engaged will drill and assess the most prospective 500 hectares in the TBAR lease.
Work is expected to begin in Q4 and be completed in the first half of 2022 and will consist of open hole drilling, coring and geophysical logging.
This will be the first of several drilling programs undertaken at TBAR to outline coal seams and it will provide information required for initial mine planning.
Chairman Domenic Martino says the company is pleased to begin drilling at this prospective project.
“Due to the proximity, and the prospectivity of TBAR evidenced in our earlier exploration of TBAR the possible delineation of a commercial resource at TBAR will increase the opportunity for early expansion of production well beyond the production profile that Cokal has planned for BBM,” Mr Martino said.
“This is an exciting development, following closely on the full funding and development of its BBM deposit.”
Cokal was up 5.26 per cent on the market with shares trading at eight cents at 12:27 pm AEST.
