Resources round-up: Red Rock, Nostra Terra, Kalimantan

29th Oct 2012 09:00

Mining company Red Rock Resources has discovered extensions to the folded banded iron formation at Havik East, Greenland. Having returned to the drilling site after initial drilling in July, the strike length of the banded iron formation (BIF) has been confirmed at 1,500 metres, with a 250 metres down-dip extent to a depth of 180 metres below surface. The company has also unearthed a second pod of thickened BIF some 1.5 kilometres away from the primary BIF target, with an estimated true thickness of up to 60 metres. US focused oil and gas producer Nostra Terra has started drilling on the fourth horizontal well in the Chisholm Trail prospect in Oklahoma. Drilling is expected to take 30 days to drill. Additional wells are in the process of being planned and permitted, and a leasing programme focused in the area is also ongoing. Kalimantan Gold Corporation hit a 52-week low after providing an update on its exploration programme at the KSK copper project in Kalimantan, Indonesia. Assays received from BTD05-02 at the Beruang Tengah prospect did not produce economic grades. Drilling of the first hole at Beruang Kanan did not produce any significant finds; one other hole at the prospect are currently being drilled, with a third planned. JH