Nov 10 2010
Challenger Deep Resources Corp. (TSX VENTURE:CDE) announces that the initial exploration program on its recently acquired Tabang Coal Project in East Kalimantan, Indonesia (News Release October 19, 2010) will commence this week.
The program is designed to provide a comprehensive assessment of the coal resource potential of the property based on geological mapping, trenching, sampling of outcropping/sub-outcropping coal seams and geological interpretation.
The duration of this initial program will depend upon the field conditions and results of the initial survey. The program is designed to identify and locate drill targets for the next phase of exploration.
The Corporation has granted 115,865 stock options to a director of the company in accordance with the company's shareholder-approved stock option plan. The stock options are exercisable at a price of $0.47 per share, expire in five years and vest immediately.
Source: Challenger Deep Resources Corp.