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Cita Mineral (CITA) Spent Billions on Exploration of 3 Locations

www.emitennews.com

Fri 14 Jul 2023, 08:00 AM

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PT Cita Mineral Investindo Tbk (CITA) announced CITA's exploration activities in the second quarter for the period April to June 2023.

CITA Corporate Secretary Yusak Lumba Pardede in his written statement Monday (10/7) said that the exploration area in the Blocks of Sandai Kanan, Muara Jekak, Meraban, Lembah Hijau and Simpang Dua and its surroundings uses the core drilling method and Uji wells.

Yusak further explained that the exploration results in the Sandai Block yielded 1,355 samples & Area 143.8 Ha, 585 Drill/Drilling Grid 50 with 852 samples then 16 Tetpit Grid 50 with 94 samples & Area 156.8 Ha, 627 Drill/Drilling Grid 50 with 1,860 samples in the Muara Jekak Block.

The exploration at Simpang Dua produced 31 Drilling Grid 50, Grid 100 with 80 samples and 75 Testpit Grid 50 with 109 samples & an area of ​​23.25 Ha, 93 Drilling Grid 50 with 168 samples in the Lembah Hijau Block.

Thus the total exploration costs incurred by CITA in the April to June 2023 period amounted to IDR 2.15 billion.

Image source: EmitenNews.com

Source: https://www.emitennews.com/news/habiskan-miliaran-rupiah-cita-mineral-cita-eksplorasi-3-lokasi-ini

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