Canadian gold exploration company Kalo Gold Holdings Corp. (KALO:TSX.V; KLGDF:OTCQB), announced in a news release "an update on exploration activities from multiple targets at Qiriyaga Hill at Kalo its 100% owned, large 360 km2, Vatu Aurum gold project in the South Pacific's Ring of Fire in Fiji."
Kalo Gold highlighted that the number of drill targets in the Qiriyaga Zone have increased from two to five after an Induced Polarization (IP) geophysical survey identified three new large shallow-to-moderately deep chargeability anomalies indicative with gold geochemical anomalies and silica-clay alteration.
The company advised that the three additional targets have not yet been drill-tested, but they appear to indicate the potential for mineralized bodies beyond the boundaries of the Qiriyaga Hill and Vuinubu Ridge deposit areas. The firm reported that the new prospective targets are located within areas that have not been drilled previously.
The company stated that it is continuing with regional exploration work at its Coqeloa prospect where it is using soil geochemical sampling to pinpoint more high priority targets and has already found some samples that have returned up to 9.02 g/t Au. At Coqeloa, Kalo Gold collected a total of 1,070 soil samples over an area measuring 4.5km x 2.5km.
The firm noted that it has completed its second pass soil grid sampling program at its a high-grade gold-silver-copper Mouta prospect and is now awaiting the assay results. The company stated that the first testing in this area returned a high-grade rock sample of 19.3g/t Au eq. that consisted of 6.2 g/t Au, 645 g/t Ag and 3.12% Cu.
Kalo Gold's CEO Fred Tejada remarked, "The results from the IP survey indicate that the Qiriyaga Zone has the potential to be a large system and the Qiriyaga Hill Deposit could be just the tip of the iceberg. Multiple large high priority targets have been identified from the IP survey and the vast majority have never been drill tested or they occur beyond the limits of historical drilling…We are immediately leveraging this new information by adjusting parts of the remaining Phase 1 Drill Program accordingly."
"Regional programs continue to record high grade results at Coqeloa and Mouta, highlighting the large potential of our land package, which shows several caldera features," Tejada added.
Kalo Gold advised that it operates solely on the northern Fijian island of Vanua Levu where at present there are no confirmed community cases of COVID-19. The company advised that drilling operations in Qiriyaga Hill and Vuinubu Ridge will restart when Fiji lifts restrictions on inter-island travel, which will allow its drill crews to return to the area. The firm said it intends to proceed with its review of surface and core geology and expansion of soil sampling in Qiriyaga Zone as well as the mapping of Mouta following the completion of soil sampling and mapping of some other prospects.
Kalo Gold is a mineral explorer based in Vancouver, B.C., that is focused on exploring and developing the Vatu Aurum gold project located on Fiji's north island of Vanua Levu. [NLINSERT]
Disclosure:
1) Stephen Hytha compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. He or members of his household own securities of the following companies mentioned in the article: None. He or members of his household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees. As of the date of this article, an affiliate of Streetwise Reports has a consulting relationship with Kalo Gold. Please click here for more information.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Kalo Gold, a company mentioned in this article.
