Kalimantan Gold Corporation Limited ("KLG")(TSX-V: KLG) (LSE:
KLG) is pleased to announce further drill results from its ongoing
delineation and scout drilling programs at Beruang Kanan, a planned
extension program at Beruang Kanan and an update on its deep
drilling program.
Highlights:
- Definition drilling continues to
intersect significant copper mineralization at the Beruang Kanan
Prospect, including:
- BK044-01 18.7 meters 1.22% Cu, from
surface
- BK044-02 21.0 meters @ 1.57% Cu,
from 4 meters
- BK045-01 20.4 meters @ 2.65% Cu,
from 1.4 meters
- BK046-01 85.1 meters @ 0.54% Cu,
from 6 metersIncluding 31.8 meters @ 0.74% Cu, from 47.5
meters
- BK048-01 15 meters @ 1.21% Cu, from
4.5 meters
- BK050-01 16.0 meters @1.03% Cu, from
0.6 meters
- Deep drill locations being prepared
at Tumbang Huoi and Baroi prospects
Beruang Kanan
The table below sets out drill results (drill widths) of
definition and scout drilling at Beruang Kanan since our last
announcement which covered holes up to BK038. 13 further holes have
now been drilled and assayed. Geological modeling of results is
presently being undertaken.
Beruang Kanan copper mineralization occurs in a series of
easterly dipping, dacitic volcaniclastic rocks of the Cretaceous
age. Chalcopyrite occurs largely in bedding-parallel and
cross-cutting quartz-pyrite-chalcopyrite veins that are interpreted
to be hydrothermal fluid channel-ways in the upper silicified zone
of a VHMS (volcanic-hosted massive sulphide) system. Where these
fluids vented to the sea floor, sulphide minerals accumulated as
layers in bedded volcaniclastic rocks. Copper mineralization in the
upper part of the mineralized zone is overprinted by supergene
covellite and chalcocite. A deep causative porphyry intrusion to
this mineralization remains a viable target.
Beruang Kanan Prospect (based on a 0.3% cutoff)
Hole ID Azimuth/ From
To Length Cu
Dip (m) (m) (m)
(%) Comments
BK039-01
270/-60
NSA
NSA
NSA
NSA
Breccia and veinhosted high
gradecoppermineralization
BK040-01 270/-60 NSA NSA NSA NSA BK041-01 270/-60 NSA NSA NSA NSA
BK042-01 270/-60 NSA NSA NSA NSA BK043-01 270/-60 NSA
NSA NSA NSA BK044-01 270/-60 0.0 18.7 18.7
1.22 BK044-01 270/-60 33.4 68.4 35.0 0.30 BK044-01 270/-60
168.1 189.1 21.0 0.59 BK044-02
090/-60 4.0 25.0 21.0 1.57 BK044-02 090/-60 41.4 62.3 20.9 0.63
BK044-02 090/-60 198.5 225.5 27.0
0.80 BK045-01 270/-60 1.4 21.8
20.4 2.65 BK046-01 270/-60 6.0 91.1 85.1 0.54 Including 47.5
79.3 31.8 0.74 BK046-01 270/-60 144.0 178.5
34.5 0.61 BK047-01 43.6
58.6 15.0 0.49 BK048-01 270/-60 4.5 19.5 15.0 1.21
BK048-01 270/-60 31.5 112.0 80.5 0.55 Including 67.5 97.5 30.0 0.73
BK048-01 270/-60 147.9 166.0 18.2
0.48 BK049-01 270/-60 19.0 37.0
18.0 0.30 BK050-01 270/-60 0.6 16.0 15.4 1.03 BK050-01
270/-60 38.3 47.0 8.7 0.42
BKD03-02 090/-80 8.5 22.5 14.0
0.96
Hole locations are indicated on the map further below. True
thickness of intercepts cannot be determined. *NSA – no
significant assays
Beruang Kanan Planned Extension Program
At Beruang Kanan, drilling completed to date has closed off the
main zone of copper mineralization to the north in the northern
part of Beruang Kanan where drill holes BK29 to BK50 have now
covered a north south strike length of 850m on approximately 100m
drill centers including previous holes drilled. Within this strike
length copper mineralization has been intersected over 750m with
widths of up to 300m. Drilling continues to the southern part of
Beruang Kanan to cover a possible southerly extension of
mineralization. Current drilling and previous drill results
indicate similar styles of mineralization in the south as to those
found in the northern area, eg BK5 102m @ 0.62% Cu from 3m,
including 63m @ 0.75% Cu.
The program will be assessed and amended on an ongoing basis
depending on results and drilling requirements at other prospects.
However, the current plan, as illustrated below, is to drill out a
total north-south strike length of more than 1750m. This does not
include the Beruang Kanan polymetallic zone that is located
approximately 1000m north of BK42 on the far northern end of the
prospect area. Drilling of this zone, where outcrops of massive
VHMS (volcanic-hosted massive sulphide) lodes occur, will be
considered once the airborne gravity survey currently being
undertaken has been completed.
Beruang Kanan Drill Program Map
To view the Beruang Kanan Drill Program Map, click onto the
following
link:http://www.usetdas.com/maps/kalimantan/kalimantanjune102013002.gif
Deep Drilling Update
Deep drilling at Beruang Tengah is continuing at the Bukit Dea
zone located 1200m east of drill hole BTD06-02. Surface grab
samples from this prospect returned up to 9.7 gpt gold from quartz
veins related to northwest trending structures.
BTD 07-01 drilling results are set below,
indicating epithermal style mineralization at depth. Whilst holes
BTD06-02 and BTD08-01 did not produce any significant assays, both
the soil geochemical and deep magnetic anomalies have only been
partially tested at Beruang Tengah and there remains a substantial
area to the north and south of the drilled portion of the prospect
in which to host a mineralized porphyry intrusion. In particular,
intense phyillic alteration and sheeted quartz veins in the North
West area have yet to be drill tested. The results of drilling to
date are presently being reviewed to determine further programs at
this prospect.
Hole ID From To Length Cu
Au Ag Mo CuEq Comments
(m) (m) (m) (%) (g/t) (g/t)
ppm (%) BTD07-01 380.00 410.00 30.0
0.56 Gold mineralization in
Epithermal Style Veins
Beruang Tengah alteration and drill hole
location map. Drill hole BTD06-01 produced 170m @ 0.32% Cu Au
equivalent from 231m and 3m @ 25 gpt Au from
48m.
To view the Beruang Tengah alteration and drill hole location
map, click onto the following
link:http://www.usetdas.com/maps/kalimantan/kalimantanjune102013006.gif
Drill hole FO01-01 at the Focus 1 prospect has been completed to
1200m to test a gold soil geochemical anomaly and partially test a
magnetic anomaly. Whilst no significant copper and gold
mineralization was intersected, the hole did intercept strong
alteration and skarn typical of peripheral porphyry intrusion
settings. Results and geophysical data are being assessed to
determine further programs at the prospect.
Drilling continues at the Mamuring prospect
where a well-developed copper-gold soil geochemical anomaly 800m by
up to 800m wide that remains open to the north, south and east has
been defined, with rock samples returning up to 6.66 gpt
Au and up to 1.15% Cu.
To view the Mamuring prospect map, click onto the following
link:http://www.usetdas.com/maps/kalimantan/kalimantanjune102013008.gif
Follow-up mapping and sampling at both Tumbang
Huoi and Baroi is now underway and drilling is expected to commence
at both prospects in late June or early July.
Faldi Ismail, CEO, commented “We are very
encouraged by the copper grades at Beruang Kanan recovered in the
definition drilling and the size potential at the
prospect. At the same time, the deep drilling program is
making good progress in defining areas where a major porphyry may
occur.”
All data, as disclosed in this press release, has been
reviewed and verified by the Company's Qualified Person for the KSK
Project, Dr. Peter Pollard, who is a Member of the Australasian
Institute of Mining and Metallurgy (Chartered Professional).
Dr Pollard acts as a technical consultant to KLG and has sufficient
experience which is relevant to the style of mineralization and
type of deposit under consideration and to the activity he is
undertaking to qualify as a Competent Person under the JORC
Code.
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
and the KSK Contract of Work in Central Kalimantan with potential
for multiple porphyry copper and gold prospects. For further
information please visit www.kalimantan.com
To view Figure 4, click onto the following
link:http://www.usetdas.com/maps/kalimantan/kalimantanjune102013009.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.
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