ydney - Monday - June 23: (RWE Australian Business News) - Elemental Minerals Ltd (ASX:ELM) has completed significant exploration over the Kasai Gold Project area in the Democratic Republic of Congo, including airborne geophysics, geological mapping, trenching, channel sampling, soil geochemistry and stream sediment geochemistry. Based on this work, the company has identified four priority targets for drill-testing, including the Mt Lupamba-Kassulu, Mt Lupanda-Kamana and Kasana targets (all located within the joint venture with DRC state-owned company MIBA). Drill contract proposals received to date have been considered unacceptable due to excessive mobilisation costs and minimum metreage requirements. The company also continues to await the resolution of matters raised by the DRC Government pursuant to its review of all joint ventures with state-controlled companies.
K2P Price at posting:
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