KALIMANTAN GOLD
Kalimantan Gold Corporation Ltd (KGC) is an AIM and TSX-listed junior exploration company focused on exploration in Kalimantan, Indonesia where it has been active for a number of years. The company is exploring for gold and copper in two distinct areas of Kalimantan and is also seeking to acquire a number of coal prospects in the region.
In East Kalimantan, KGC is currently undertaking a 4,000 metre drill programme at its 100%-owned Jelai gold prospect and results to date indicate the potential for a major epithermal gold deposit. This has been confirmed by the economic geologist Dr Peter Pollard in an independent report on the project and the company expects to announce an inferred resource for Jelai in the next few months.
In Central Kalimantan KGC’s Contract of Work (CoW) has multiple copper porphyry prospects which, according to Dr Pollard, still have considerable untested potential. A number of companies have expressed interest in reviewing the KSK data with a view to signing a co-operation agreement.
In addition to its exploration work, KGC supports development in the villages surrounding its project areas through a Foundation, YTS. Villages are encouraged by YTS to plan for the future with the help of a Village Development Fund, the aim being to facilitate self help wherever possible.
Kalimantan Gold expects maiden resource estimate for Jelai Gold Project by October
Kalimantan Gold (TSX-V & AIM:KLG), the coal, copper and gold exploration outfit with interests in Indonesia, reported this morning that it was expecting to release a maiden NI 43-101 inferred resource estimate for the Jelai epithermal gold project in East Kalimantan by October.
Kalimantan has been drilling at the 100% owned gold project for several months now, and though hampered by wet weather, had managed to complete 54 holes, or around 4,500 metres of drilling. A second drill rig recently purchased it also expected to beef up progress. Kalimantan also announced that ongoing exploration had identified four new gold shoots - South Sambawang, Central Sambawang, Lepan and South Mewet. And further two potential discoveries, Balangan and Nyabi, are to be drill tested shortly. The company added that its geological team was getting a better handle on the understanding of the indicators for Jelai's low-sulphidation epithermal vein system.
An inferred resource on two of the vein systems is expected before November.
Drilling at Kalimantan's recently optioned thermal coal projects is also expected to get underway shortly, starting at the Mandul exploration permit first. Around 40 holes, or 3,000 metres will be drilled.
Other KALIMANTAN GOLD articles
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11/11/08 Kalimantan Gold gets encouraging initial resource estimate from Jelai gold project vein
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12/05/08 Kalimantan Gold – Audio Interview Transcript
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03/12/07 Developing a pipeline of projects
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25/07/07 Kalimantan Gold: Report from the front line.
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24/07/07 Report from the front line.
Other KALIMANTAN GOLD news
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17/11/08 Kalimantan Gold signs option on coal opportunity in Indonesia
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10/10/08 Kalimantan Gold consolidates copper-gold porphyry project
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29/09/08 Kalimantan Gold intercepts More High-Grade Gold at Jelai Gold Project
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13/06/08 Kalimantan Gold completes CDN1.1 million placing
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19/05/08 Kalimantan Gold plans to top up its coffers
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15/04/08 Kalimantan Gold commences deep drilling at Jelai Gold
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25/03/08 Kalimantan Gold adds to senior management
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26/02/08 Kalimantan Gold director snaps up shares
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28/01/08 Kalimantan Gold still sees untested potential