Encouraging results were reported by Palmer Resources (PMD-V) from a program testing the Cikoneng prospect in the western portion of the Cubaliung project in West Java, Indonesia.
Hole 001 returned an 8.7-metre intersection grading 10.62 grams gold and 90.75 grams silver per tonne from 35.8 to 44.5 metres. The company notes, however, that the approximate true thickness of this intersection is 5.59 metres.
Included in the above intersection is a higher-grade interval of 6 metres (from 35.8 to 41.8 metres) grading 13.21 grams gold and 119.18 grams silver.
The second hole is still being drilled. However, black sulphide banding, comparable in intensity to the main intersection in hole 1, has been observed throughout the 19 metres penetrated thus far.
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