Calgary-based Bre-X Minerals (ASE) has signed an agreement in principal to earn an 80% interest in an Indonesian gold project.
The 57,571-hectare property contains three gold prospects, one of which returned average values of two grams gold per tonne to a depth of 60 metres. Subject to funding and director approval, Bre-X will hire John Felderhof to supervise exploration. Felderhof is one of the discoverers of the Ok Tedi copper-gold mine in Papua New Guinea.
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