SOUTHEAST ASIA SPECIAL — Jonpol and Indocan get permit

Junior partners Jonpol Explorations (TSE) and Indocan Resources (NASDAQ) report that the Indonesian government has confirmed ownership of their B Block, 16 km north of the Busang gold deposit.

Jonpol has an agreement in principal to earn a 35% interest in the project from Indocan by spending $2 million over three years. The block is small, measuring roughly 6 by 0.5 km, and sandwiched between Indomin Resources to the north and Bre-X to the south.

Glenn Griesbach, consulting geologist, says the block includes, or is immediately adjacent to, four anomalies identified in the late 1980s, two of which are stream sediment gold anomalies.

Elsewhere in East Kalimantan, 140 km northeast of Busang, the companies will explore a 2,000-hectare claim block.

This project is described as being on the trend line with Indochina Goldfields’ three new gold and silica-rich discovery areas, and the Busang gold discovery.

Indocan’s president is Robert Salna, former president of Canadian States Resources (CDN), a junior active in Labrador. Indocan will operate the work programs, though Jonpol will sit on an operating committee.