KLG expects maiden resource estimate for BKM Prospect soon
Friday, August 1 2014 - 01:23 AM WIB
TSX-listed Kalimantan Gold Corporation Limited (KLG) announced that it has engaged Duncan Hackman to complete a maiden resource estimate for its flagship Beruang Kanan Main (BKM) Prospect.
The company said in a statement Thursday that the National Instrument 43-101 (NI 43-101) compliant resource report on the Beruang Kanan Main Prospect will incorporate data from KLG's 2012-13 Phase 1 drilling program as well as historic drilling completed on the project during the 1998 - 2001 and the 2007 campaigns, totaling more than 19,000 meters. ?It is expected that the report will be completed in the third quarter of this year,? it said.
The BKM Prospect is located within the Beruang Kanan Project area in KLG's Kalimantan Surya Kencana (KSK) Contract of Work (CoW), which covers an area of 620 square kilometers in Central Kalimantan, Indonesia. Approximately US$55 million has been incurred in exploration expenditures on the KSK CoW including 60,000 meters of drilling. About $33 million was spent during 2012 - 2013 that resulted in over 30,000 meters of deep and delineation drilling; 28,000 samples analyzed; 4,762 line kilometers of airborne geophysical surveys; and high resolution Lidar imaging over 24,363 ha.
Drilling at the BKM Prospect has confirmed a shallow dipping zone of copper mineralization over a strike length of up to 1,100 meters, is up to 450m wide and varies from 20m to 90m in thickness. Mineralization is dominated by covellite and chalcopyrite in sheared and altered volcaniclastic rock types and hydrothermal breccias.
Selected significant drilled intercepts at the BKM Prospect include:
79.0m @ 0.88% Cu
60.1m @ 1.03% Cu
33.0m @ 2.28% Cu
20.4m @ 2.65% Cu
21.0m @ 1.57% Cu
?Management is happy to announce that Duncan Hackman (who is the principal of Hackman & Associates Pty Ltd) has been engaged to complete a resource report compliant with NI 43-101 on the BKM Prospect,? the company said.
Mr. Hackman (B.App.Sc., MSc, MAIG) is an independent consulting geologist based in Perth, Australia. He has wide international experience in mining and mineral exploration and has completed numerous Mineral Resource estimates on copper deposits. He is a member of the Australian Institute of Geoscientists and an Independent Qualified Person within the meaning of NI 43-101.
Editing by Reiner Simanjuntak