Kibush Capital New Guinea Mining Update

MELBOURNE, Australia, Feb. 3, 2015 /PRNewswire/ -- Kibush Capital Corporation (OTC: DLCR) announced today that its subsidiary, Aqua Mining, has been appointed as Miner/ Developer by the Mining Advisory Council, Papua New Guinea to AML 694/695.

Vincent Appo, Advisory Board Member, said that the resource will be in excess of 150,000 ounces, and it is expected to exceed that amount when the Company has the opportunity to undertake the proper geological assessment and evaluation. AML 694/695 is located neighboring the area next to the Korangi AML 206-301, which the company has an existing JV with the landowners, in Wau Papua New Guinea.

Warren Sheppard, the Company's CEO, said this is a significant milestone in the Company's investment in Papua New Guinea. This approval from the Mining Advisory Council confirms Kibush Capital, via its subsidiary Aqua Mining Ltd.,  has undertaken the necessary requirements to comply with the relevant regulations to commence mining and processing.

"This is the first of a number of applications currently being put to the relevant Mining authorities, and we look forward to the successful outcome of each of these in successive months. As is part of the financial model of Kibush Capital, the operations will commence at AML 694/695 as soon as equipment is on site, as the Company has invested in the necessary staffing and infrastructure requirements over the past 12 months," Mr. Sheppard said.

Contact:
Paul Knopick
E & E Communications
[email protected]
940-262-3584

SOURCE Kibush Capital Corporation

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED