International Dunlap Minerals: Indonesian Contract of Work Signed and
Drilling at Wae Dara Commenced
Business Wire - February 23, 1998 14:06
%INTL-DUNLAP-MINERALS IDZ. %NEW-YORK %MINING %METALS V%BW P%BW
VANCOUVER, B.C.--(BUSINESS WIRE)--Feb. 23, 1998--INT'L DUNLAP (VSE:IDZ) Dr. Peter J. Guest reports:
INTERNATIONAL DUNLAP MINERALS CORPORATION ("Dunlap") is pleased to announce that a seventh generation
Contract of Work ("COW") for the Sikalangan mineral exploration property was signed on February 19, 1998 between the
Indonesian Minister of Mines and Energy, on behalf of the Government of Indonesia, and an Indonesian join venture company
incorporated by Dunlap and its joint venture partner.
The Sikalangan COW covers approximately 140,000 hectares in southwest Kalimantan, Indonesia. Dunlap holds a 95 percent
participating interest in the Indonesian joint venture company that has entered into the Sikalangan COW and a privately
owned Indonesian company holds the remaining 5 percent interest.
Dunlap holds a 93 percent participating interest in the 2,733 hectare area Wae Dara KP in north-western Flores Island where
six prospects displaying volcanogenic massive sulphide characteristics have been identified in the recently completed
geochemical exploration programs. A 1,500 meter, eight hole reconnaissance drill program has been implemented to drill the
targets selected at the six prospects and test for the existence of sulphide mineralization. This programme is expected to be
completed by the end of February, 1998 and the results will be reported thereafter.
Dunlap also holds interest in several other mineral exploration properties in Indonesia, including a 95 percent interest in the
highly prospective Aceh COW (a sixth generation COW covering approximately 144,844 hectares in northern Sumatra), and
a 95 percent interest in the Flores COW (a sixth generation COW covering approximately 1.2 million hectares on Flores
Island).
On behalf of the Board
Peter J. Guest, D. Eng., President, Chief Executive Officer and Director
This news release has been prepared by management of Dunlap who takes full responsibility for its contents.
NOTE TO EDITORS: The Vancouver Stock Exchange has not reviewed and does not accept any responsibility for the
adequacy or accuracy of the contents of this news release.
CONTACT: International Dunlap Minerals Corporation
Peter J. Guest, 604/608-1633
604/608-6806 (FAX)
24 hour recorded shareholders update available
at (604) 608-1633, extension 241 |
