VANCOUVER, BRITISH COLUMBIA, CANADA: 11 DECEMBER 2023, KALO GOLD CORP. (“Kalo”, “Kalo Gold” or the “Company”) is pleased to provide an update on the ongoing 2023 Phase 3 exploration program at its flagship 100% owned Vatu Aurum Gold Project (“Vatu Aurum” or the “Project”), Republic of Fiji.
Field exploration work completed to date in 2023 has resulted in a significant and improved understanding of the geological setting of the epithermal gold mineralization at Vatu Aurum and has confirmed the district-scale gold potential. Importantly, the Company has documented widespread sinters (paleo-surface expression of epithermal systems) that will provide an important vectoring tool for gold discoveries. Furthermore, the alteration distribution associated with the most advanced target on the Project, the Qiriyaga Hill Prospect, indicates a shallow level of erosion of the epithermal systems of between 50 meters (“m”) to 100 m, implying that the precious metal-bearing boiling zone is at depth.
2023 Exploration Work Program Highlights
A Property scale bulk leach extractable gold (“BLEG”) sampling program that successfully defined a 33 kilometer (“km”) long NE-trending gold corridor across the Property.
A stream sediment sampling program that identified several priority target drainages with previously unknown prospects.
A Controlled-Source Audio-frequency Magnetotellurics (“CSAMT”) geophysical survey covering 57.6-line km over 12.5 km² at Qiriyaga Hill Prospect, identifying six priority target areas.
Renewal of Special Prospecting License (“SPL”) 1464, extending to 4 July 2028.
Diamond drilling at Drudrusavu Prospect identified a new epithermal gold system associated with large CSAMT resistivity high targets.
Diamond drilling at Mouta Prospect intersected two mineralization styles, suggesting a shallowly eroded phreatomagmatic eruption setting.
A team of geologists continues to synthesize geological and geochemical data to prioritize targets for the 2024 drilling program.
About Kalo Gold Corp.
Kalo Gold Corp, a gold exploration company, is focused on exploration for low sulphidation epithermal gold deposits at the Vatu Aurum Gold Project in Vanua Levu (North Island), Fiji. Kalo holds a 100% interest in two Special Prospecting Licenses, covering 367 km².
Both Viti Levu (South Island) and Vanua Levu are on the prolific Pacific “Ring of Fire”, a trend that has produced numerous large deposits, including Porgera, Lihir, and Grasberg and, on Viti Levu, the Vatukoula Gold Mine, which has produced more than 7 million ounces of gold since 1937. The island of Viti Levu also hosts the Tuvatu Alkaline Gold Project, where Lion One Metals is fast-tracking a high-grade underground gold mining operation.
Qualified Person
The technical information in this news release was reviewed and approved by Terry L. Tucker, P.Geo., a qualified person as defined by National Instrument 43-101 of the Canadian Securities Administrators.
On Behalf Of The Board Of Directors Of Kalo Gold Corp.
Terry L. Tucker, P.Geo.
President and Chief Executive Officer
Kevin Ma, CPA, CA
Executive Vice President, Capital Markets and Director
For more information, please write to info@kalogoldcorp.com.
Forward-Looking Statements Disclaimer
Certain statements in this release are forward-looking statements, which are statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Forward looking statements in this news release include statements relating to the Company’s proposed drilling timeline and the proposed expansion of the exploration program, and the Company’s plans for future exploration on the Vatu Aurum Gold Project. Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “anticipate”, “expects” and similar expressions. All statements included in this news release, other than statements of historical fact, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results, and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include quality and quantity of any mineral deposits that may be located, the Company’s inability to obtain any necessary permits, consents or authorizations required for its activities, the Company’s inability to raise the necessary capital to be fully able to implement its business strategies, and other risks and uncertainties disclosed in the Company’s filing statement dated February 9, 2021 and latest interim Management Discussion and Analysis filed with certain securities commissions in Canada.
The reader is cautioned that assumptions used in the preparation of any forward-looking statements herein may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect, and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law.
