Kalimantan Gold Corporation Limited: Jelai Drilling Produces More High-Grade Gold Intercepts
Kalimantan Gold is continuing to produce successful drill results at its 100%-owned Jelai gold project in East Kalimantan, Indonesia, where the company aims to have an independent resource estimate by the end of the year. Assay results have now been received for four more holes from the latest round of drilling, including the following encouraging intercepts:
– JCM-69 (Mewet Vein): 6.00 metres @ 15.84 g/t Au & 81 g/t Ag – including 0.75 metres @ 62.27 g/t Au & 256 g/t Ag and 2.85 metres @ 2.09 g/t Au & 7 g/t Ag – JCM-68 (Mewet Vein): 2.45 metres @ 4.45 g/t Au & 11 g/t Ag – including 1.00 metre @ 8.66 g/t Au & 6 g/t Ag – JCM-66 (Central Sembawang Vein): 4.25 metres @ 1.64 g/t Au & 1 g/t Ag – including 1.35 metres @ 2.99 g/t Au & 2 g/t Ag
– JCM-60 (Lipan Vein): 1.50 metres @ 1.24 g/t Au & 1 g/t Ag
A total of 73 diamond drill holes covering 6476 metres have been drilled and 1801 drill core samples have been analyzed over the past 12 months.
Following the completion of scout drilling at the Lipan Vein system in August, drilling has focussed on developing sufficient data to generate a resource estimate from within the Mewet and Central Sembawang Veins, where previous drilling has identified the development of higher grade gold and silver mineralisation within a series of shoots.
CEO Rahman Connelly comments that: “This aggressive step-out and infill drilling not only confirms the strength and continuity of gold mineralization along trend in the Mewet vein but extends the drill indicated strike length by 130 meters. The Mewet gold vein system remains open to the north, south and at depth. The latest drill results have returned some exceptionally high grades, notably hole number JCM-69, which included gold assays up to 0.75 m @ 62.3 g/t Au and 256 g/t Ag.”
Only three of the 10 drill holes completed in the Central Sembawang area have completed assay returns from the laboratory. Following the return of pending assay results it is likely that a number of other drill holes will be targeted and completed before modelling is undertaken.
The two scout drill rigs will continue to define the near-surface expressions of the various structures, whilst the two larger capacity drill rigs on site will focus on intersecting the gold-bearing veins at depth below the shallow scout holes. This methodology is currently being completed on the Mewet Vein and the Central Sembawang Vein with the goal of obtaining an independent estimate of resources by the final quarter of this year. Once this shallow and deep drilling is complete, the focus will move to the Lipan and South Sembawang Veins, where scout drilling has indicated the development of mineralised shoots close to the surface.
All data, as disclosed in this press release, has been verified by Brett Dennis Gunter, the Company’s Qualified Person for the Jelai Project. Mr Gunter, who acts as a technical consultant to the Company, is a geologist with over 10 years experience in epithermal gold systems and is a member of the AusIMM. The assay intervals are reported as drilled length and true widths have not been calculated. The sample analyses were conducted by Indoassay, an internationally accredited laboratory in Balikpapan, Indonesia. Gold analyses were by 50g fire assay with an AAS finish and silver by AAS.
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 is focused on gold, coal and copper prospects in Indonesia and has exploration rights in three areas: the Jelai epithermal gold prospect in East Kalimantan, nine coal prospects, also in East Kalimantan, and porphyry copper and gold prospects in Central Kalimantan.
