An Indonesian company has dealt Goldstake Explorations (TSE) an option to earn an 80% interest in two gold-silver properties on the island of Java.
The properties, 120 km southeast of Jakarta, were subjected to three diamond drill holes in 1988.
One of the holes intersected 1 metre grading 30.3 grams gold and 13.9 grams silver per tonne, as well as 4 metres of 3.05 grams gold and 25.5 grams silver. The wall rock showed strong epithermal alteration.
The Indonesian company will receive US$500,000 and 2.5 million shares of Goldstake.
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