Friday, July 31, 2009

Herald to resume drilling

Herald Resources (HER), a subsidiary of Bumi Resources (BUMI), plans to resume drilling activities in Lae Jehe, Sinar Pagi, and Buluh Laga prospects in lead-zinc concession controlled by PT Dairi Prima Mineral in North Sumatra this quarter.
Herald, acquired by BUMI for over US$600 million last year, is awaiting forestry approval in order to proceed to full development of the Dairi project. Due to the delay in obtaining forestry approval, the company has ceased port and road construction activities associated with the project.
The Lae Jehe prospect is located about 1.5km north of the main Anjing Hitam orebody. There was a temporary hiatus in drilling and related feasibility studies at Lae Jehe during the March and June quarters of 2009. But Herald told ASX this morning that drilling of the Lae Jehe to Basecamp sector is planned to commence during the 3rd quarter of 2009. 
Herald also said drilling for Buluh Laga prospect is scheduled to commence early in 3rd quarter of 2009.

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