New Gold-Silver Intersections at the Jelai Project
09/17/2012| 02:05am US/Eastern
Recommend:
Highlights
New holes along the Mewet Vein confirm down-dip continuity of
moderate grade gold-silver mineralization to depths greater than 120m
below surface
Intersections include:
MEW6500-01 5.5m @ 2.73g/t Au & 6.3g/t Ag
Including 3.1m @ 4.02g/t Au & 10.2g/t Ag
Including
0.6m @ 12.8g/t Au & 40.1g/t Ag
MEW6600-01 4.7m @ 1.72g/t Au & 18.4g/t Ag
MEW6600-02
2.9m @ 5.16g/t Au & 12.3g/t Ag
Including 1.5m @ 8.43g/t Au & 21.7g/t Ag
Kalimantan Gold Corporation ("KLG") is pleased to announce new
gold-silver results returned from recent drilling by Tigers Realm Metals
("TRM") as part of their first stage exploration activities on the Jelai
Epithermal Project. The northwest quadrant of the Jelai IUP license
hosts at least three discrete, sub-parallel, north-south trending
epithermal structures, the Mewet, Sembawang and Nyabi vein systems.
A program of 11 holes (all drilled towards the East), for 3,129.4m of
drilling, has been completed. Drill holes targeted high grade shoots at
deeper levels of the epithermal gold - silver vein systems at north
Mewet, north Sembawang, south Sembawang and along the untested central
and southern extensions of the Nyabi vein system.
Mewet
A total of eight TRM holes have tested 400 meters of strike length along
the North Mewet vein system, to depths of up to 300 meters. All assays
have been received assays have been received for the Mewet (MEW series)
drill holes.
Sembawang
Two holes have been drilled along the Sembawang vein system to date. A
single hole drilled at the northern end of the Sembawang vein, near the
summit of Bukit Cinta, and the second hole tested the southern limits of
the mapped portion of the vein. Assays have been received for north
Sembawang DDH (SEM6700-01), and pending for south Sembawang DDH
(SEM5700-01).
Nyabi
The first hole targeted a strong gold in soil geochemical anomaly
defined at the poorly exposed southern strike extension of the Nyabi
vein. A second hole is currently underway, targeting the central
portions of the Nyabi structure where three interpreted veins (i.e.
linear ridges) intersect. Assay results from the first hole are pending.
Results from TRM drilling are listed in Table 1, and are now being
analyzed by KLG's consulting geologist and conclusions will be released
as soon as they are available.
|
|
|
Table 1. Significant assays for TRM drill holes
|
|
Hole
|
|
Dip
|
|
From (m)
|
|
To (m)
|
|
Interval (m)
|
|
Au(g/t)
|
|
Ag(g/t)
|
|
|
MEW6300-01
|
|
-67
|
|
No Significant Assays
|
|
|
MEW6400-01
|
|
-61
|
|
226.0
|
|
228.6
|
|
2.60
|
|
0.51
|
|
n/a
|
|
|
MEW6500-01
|
|
-61
|
|
198.0
|
|
203.5
|
|
5.50
|
|
2.73
|
|
6.3
|
|
|
incl.
|
|
|
|
199.0
|
|
202.1
|
|
3.10
|
|
4.02
|
|
10.2
|
|
|
incl.
|
|
|
|
201.5
|
|
202.1
|
|
0.60
|
|
12.80
|
|
40.1
|
|
|
MEW6500-02
|
|
-74
|
|
249.0
|
|
250.0
|
|
1.00
|
|
1.47
|
|
1.3
|
|
|
MEW6600-01
|
|
-56
|
|
61.8
|
|
66.5
|
|
4.70
|
|
1.72
|
|
18.4
|
|
|
incl.
|
|
|
|
63.8
|
|
65.9
|
|
2.10
|
|
2.42
|
|
30.0
|
|
|
MEW6600-01
|
|
-56
|
|
72.0
|
|
77.0
|
|
5.00
|
|
0.69
|
|
1.4
|
|
|
MEW6600-02
|
|
-50
|
|
161.4
|
|
164.3
|
|
2.90
|
|
5.16
|
|
12.3
|
|
|
incl.
|
|
|
|
162.8
|
|
164.3
|
|
1.50
|
|
8.43
|
|
21.7
|
|
|
MEW6600-02
|
|
-50
|
|
176.0
|
|
180.0
|
|
4.00
|
|
0.92
|
|
0.8
|
|
|
MEW6600-02
|
|
-50
|
|
185.0
|
|
186.0
|
|
1.00
|
|
1.36
|
|
0.8
|
|
|
MEW6600-02
|
|
-50
|
|
200.0
|
|
215.0
|
|
15.00
|
|
0.37
|
|
0.4
|
|
|
incl.
|
|
|
|
209.0
|
|
213.0
|
|
4.00
|
|
0.83
|
|
0.5
|
|
|
MEW6600-03
|
|
-70
|
|
No Significant Assays
|
|
|
MEW6700-01
|
|
-65
|
|
No Significant Assays
|
|
|
SEM6700-01
|
|
-45
|
|
No Significant Assays
|
|
|
SEM5700-01
|
|
-45
|
|
Assays Pending
|
|
|
NYA5900-01
|
|
-45
|
|
Assays Pending
|
|
|
NYA6225-01
|
|
|
|
Drilling in Progress
|
|
|
|
|
|
|
|
|
Drill intercept lengths only are reported in the tabulations; it is
estimated that true width will be less than the reported drill intercept
length.
Figure 1: Jelai IUP, showing TRM drill hole locations
To view Figure 1, click onto the link below or copy and paste into your
browser:
http://www.usetdas.com/maps/kalimantan/klgsept17003.jpg
Figure 2: Jelai IUP, showing prospect locations
To view Figure 2, click onto the link below or copy and paste into your
browser:
http://www.usetdas.com/maps/kalimantan/klgsept17004.jpg
Community Programs
The current Corporate & Social Responsibility ("CSR") livelihood
activities of KLG include three main activities - vegetable gardens,
fish ponds and rubber seedling nurseries - for which interest groups
have been established. These are based in the villages of Bunau and
Terindak. Each village has made an annual development plan and elected a
management group to implement the plan.
The vegetable group has been harvesting produce from the plot and
selling into the local market. The success of this is attracting others
to join in the activity. The ponds have been stocked with catfish
fingerlings that are growing well and being managed by each village. The
two rubber groups in each village have established a nursery plot and
planted rootstock for grafting. Experts from this village have begun
providing training to the rubber groups.
In Mewet village, close to the exploration camp, the CSR program is also
supporting the provision of mother and child care by the subdistrict
health clinic. Malnutrition and tuberculosis are serious concerns and
this is the first time they have had access to professional health care.
All data, as disclosed in this press release, has been reviewed and
verified by the Company's Qualified Person for the Jelai Project, Dr.
Peter Pollard, who acts as a technical consultant to KLG and is a
consulting economic geologist with over 20 years experience.
About Kalimantan Gold
Kalimantan Gold Corporation Limited is a junior exploration company
listed on both the TSX Venture Exchange in Canada and on AIM in London.
The Company has two exploration projects in Kalimantan: the Jelai
epithermal gold project in East Kalimantan (which is optioned to Tigers
Realm Metals Pty Ltd) and the KSK Contract of Work in Central Kalimantan
with multiple porphyry copper and gold prospects. For further
information please visit www.kalimantan.com
To view Figure 3, click onto the link below or copy and paste into your
browser:
http://www.usetdas.com/maps/kalimantan/klgsept17005.jpg
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
This news release contains forward-looking statements that are based
on the Company's current expectations and estimates. Forward-looking
statements are frequently characterized by words such as "plan",
"expect", "project", "intend", "believe", "anticipate", "estimate",
"suggest", "indicate" and other similar words or statements that certain
events or conditions "may" or "will" occur. Such forward-looking
statements involve known and unknown risks, uncertainties and other
factors that could cause actual events or results to differ materially
from estimated or anticipated events or results implied or expressed in
such forward-looking statements. Such factors include, among
others: the actual results of current exploration activities;
conclusions of economic evaluations; changes in project parameters as
plans continue to be refined; possible variations in ore grade or
recovery rates; accidents, labour disputes and other risks of the mining
industry; delays in obtaining governmental approvals or financing; and
fluctuations in metal prices. There may be other factors that
cause actions, events or results not to be as anticipated, estimated or
intended. Any forward-looking statement speaks only as of the
date on which it is made and, except as may be required by applicable
securities laws, the Company disclaims any intent or obligation to
update any forward-looking statement, whether as a result of new
information, future events or results or otherwise. Forward-looking
statements are not guarantees of future performance and accordingly
undue reliance should not be put on such statements due to the inherent
uncertainty therein.
Kalimantan Gold
Faldi Ismail
Deputy Chairman and CEO
Mobile:
+61 (0) 423 206 324
faldi.ismail@kalimantan.com\
or
Corporate
Development (UK)
Gerald Cheyne, +44 (0) 2077311806
Mobile:
+44 (0) 7717473168
gerald.cheyne@kalimantan.com
or
VSA
Capital Limited
Nick Redfern / Peter Damouni, +44 20 3005 5005
/ +44 20 3005 5007
pdamouni@vsacapital.com
or
KLG's
Nominated Adviser
RFC Ambrian Limited
Stuart Laing, +61 8
9480 2506
stuart.laing@rfcambrian.com
© Business Wire 2012
Recommend :
