A $14-million financing will provide funds for South Pacific Resources (ASE) to explore 18 targets on its seven contracts of work in Kalimantan, Indonesia.
The company is already drilling its Mandor copper-gold porphyry prospect, and another drill program is set to begin on the Ongkang epithermal gold vein system.
Once trenching results are in hand, at least two more drill programs will be initiated — on the Kiwi and Sori-Hill prospects.
Both are viewed as having the potential to host bulk-tonnage gold deposits.
The remaining 14 prospects will be evaluated in order to set priorities for future drilling programs.
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