Kalimantan Gold says drill program still on schedule

Canadian junior mineral explorer Kalimantan Gold Corporation Limited said Monday that drill program at Baroi copper and gold prospect in Central Kalimantan was on schedule with assay results pending on four core drill holes.

The company said drill programs at Baroi were directed first towards intercepting porphyry copper mineralization at depth. If successful, it will continue drilling to define the size of the deposit.

Kalimantan Gold confirmed the viability of the deep and very large IP (induced polarization) anomalies previously identified in the Far East Zone (FEZ) of Baroi last July.

Drill testing of these targets utilizing a contractor’s rig to depths of up to 600 meters began on December 22, 2005.

The exceptional high grade hole BF 5 (85.45 meters 2.9% Cu, 0.62% Pb, 1.85% Zn, 70.1 gpt AG, 0.22 gpt Au) is believed to result from this underlying mineralizing source. Further evidence of an underlying mineral source was generated from several of the deeper holes, where increasing intensities of alteration and mineralization were observed at depth.

The four deep holes will test deeper IP targets in the FEZ and, possibly in the Central Zone. To date one deep hole has been completed with assays pending and the second is underway. (Robert)