Anyone know about this company?
palmer-ind.com
July PR
EXPLORATION UPDATE
INDONESIA - Cibaliung Gold Project
Detailed exploration of the Cikoneng prospect has commenced and will involve geological mapping, gridded auger
geochemical soil sampling, trenching and rock-chip sampling and/or overburden drilling, and geophysical surveys with the
specific objective of delineating diamond drilling targets by October.
Earlier selective rock-chip sampling of typical colloform - banded, low sulphidation epithermal gold mineralization at Cikoneng
by PT Aneka Tambang, the KP holder, returned assay values as high as 258.04 grams per tonne gold and 997.6 grams per
tonne silver. Recent petrological studies have confirmed the presence of electrum, the naturally - occurring alloy of gold and
silver.
VIETNAM - Exploration License Applications
All the approvals necessary for the two Exploration License Applications for copper cover 400 sq km have now been filed
with the Ministry of Industry. The new Mining Law takes effect on the 1st of September 1996, and these two applications are
expected to be granted shortly thereafter, thereby allowing a multi-stage exploration program to commence immediately.
Several other precious and base metal prospects are currently under preliminary exploration.
PHILIPPINES - Penzaval Chromite Project
Geological mapping of the 11 chromite occurrences is now well advanced and detailed mapping of Area 1 will be followed by
some check drilling of the 1986 results, deeper drilling for additional resources and preliminary drilling of the other
occurrences. Recent trenching has revealed additional chromite that will increase the size of the resource. Platinum group
element exploration is proceeding over soil anomalies detected by the Metal Mining Agency of Japan in 1992.
Golden Cross Gold-Project
Geological mapping, rock-chip orientation and stream sediment sampling is now proceeding with check assaying planned for
earlier sample sites. Wide areas of silica-clay-pyrite alteration have been noted and are being followed-up.
Best of Luck,
Ross |
