Indomin joint ventures Pulau Maya Gold Project to Jonpol.TORONTO--(BUSINESS WIRE)--Oct. 2, 1996--Indomin Resources Limited (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :JON.) is pleased to announce it has joint ventured the Pulau Maya Gold Project in West Kalimantan, Indonesia to TSE - listed Jonpol Explorations Limited. Under the terms of the joint venture, Jonpol can earn a 45 percent interest in the project by issuing 500,000 common shares to Indomin and spending $Cdn 1 million on exploration over two years. The Pulau Maya project comprises three granted KPs (Mining Claims) totaling 26,005 hectares on Maya Island in West Kalimantan. The permits were chosen by Indomin to cover prospective portions of a 30-kilometre long northeast trending structural zone within the Cretaceous Sukadarna granite. This structural feature was evident in interpretation of satellite imagery. Ground reconnaissance of the permits has outlined zones of contact metamorphism with potential for skarn skarn In geology, a metamorphic zone developed in the contact area around igneous rock intrusions when carbonate sedimentary rocks are invaded by and replaced with chemical elements that originate from the igneous rock mass nearby. type gold mineralisation. Recent aeromagnetics aer·o·mag·net·ics n. (used with a sing. verb) The science of magnetic characteristics associated with atmospheric conditions. aer flown by Indomin indicate annular annular /an·nu·lar/ (an´u-ler) ring-shaped. an·nu·lar adj. Shaped like or forming a ring. annular ring-shaped. magnetic highs around apophyses of the Sukadarna granite. The magnetic highs coincide well with known gold occurrences in the northern part of the permits and the postulated zones of skarn mineralization Mineralization The process by which the body uses minerals to build bone structure. Mentioned in: Rickets mineralization, n the bioprecipitation of an inorganic substance. . Indomin is now preparing a work program for rapid identification of drill targets. This agreement is subject to the approval of The Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. and such other regulatory bodies having jurisdiction. DATED at Toronto, this 2nd day of October, 1996. JONPOL EXPLORATIONS LIMITED John A. Pollock, President CONTACT: Jonpol Explorations Ltd. John A. Pollack, 416/947-1087 or Donald T. Rankin, 416/947-1087 416/366-8179 (FAX) |
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