An exploration program is about to begin at the 32,750-ha Christina concession in central Kalimantan, Indonesia.
The contract of work application is a 90%-owned joint-venture between Brett Resources (BRN-V) and Mango Resources (MRH-V).
Operator Brett is earning a 50% working interest in the property and has agreed to spend US$300,000 on the initial work program. After this is completed, further work will be financed equally by the two juniors. An Indonesian partner holds a 10% interest, which can be purchased for US$1 million and a 3% net profits interest.
The property was previously explored by an Australian firm, which carried out stream geochemical sampling, mapping, radar imagery and air photo interpretation. The juniors plan to follow up several anomalies identified from that work program.
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