Bresea and Diadem drilling Belitung

Drilling is under way at two Indonesian projects owned by Bresea Resources (BSR-M) and Diadem Resources (DIR-M).

The projects are on a 579-sq.-km property on Belitung Island, situated between Sumatra and Kalimantan. The Indonesian government has approved a contract of work that provides Bresea with a 60% interest, Diadem with 30% and an Indonesian partner, Gunung KiKara Mining, with 10%. Bre-X Minerals (BXM-T) is the project operator but holds no direct interest.

The Tikus tin-tungsten project was mined by Dutch interests from 1914 to 1920, when heavy flooding forced the mine to close. The mine operators, however, blocked out a resource, in a stockwork or breccia pipe in granite, of 2.5 million tonnes grading about 1.2% tin and 0.8% tungsten. The companies are now drilling this target in the hope of outlining a potential open-pit reserve.

The Kelapa Kampit prospect, a volcanic-hosted massive sulphide showing, is also on the property. It has an inferred resource of 5.5 million tonnes with 7.3% zinc and 3.9% lead. About 1.5 km of a 7.5-km mineralized horizon has been tested. Some silver values were recorded in previous work, and copper sulphides have been identified in samples, though no copper analyses have been performed.

A second contract of work, which covers 586 sq. km of volcanic terrain in the southern part of the island, was also approved by the Indonesian government.

The partners believe the area could host epithermal gold deposits.