Borneo Resource Investments, Ltd is a US based listed company (OTC:”BRNE”), with gold mining operations in Sulawesi Province of The Republic of Indonesia. Through its wholly owned Indonesian subsidiary PT Borneo Jaya Emas, the company own and operates gold bearing properties with a total area of approx. 7.5 hectares in Minahasa Tanggra Regency, approximately 3 hours from the regional capital Manado.
The Company’s operations are based on “heap leaching” technology, a relatively low impact form of gold extraction more suitable for ecologically sensitive areas of operation. The Company’s properties are located in a volcanic reef mineral ore formation, which runs across the northern part of the island of Sulawesi. The area was originally geologically mapped and successfully exploited by Newmont Mining, one of the largest gold mining companies in the US, until the mid 90’s.
The Company has access to geological survey and drill test data for the area showing estimated ore grades varying from around 0.5g/ton up to 8g/ton. The company’s properties are ore bearing, and internal targeted trenching tests have shown ore grades consistent with these estimates.
*At time of closing.
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