Kalimantan Gold Corporation is close to completing an extensive drilling and exploration campaign at the KSK copper target. The 2013 joint venture program, which cost US$16.2 million, focused on five main areas - surface mapping, remote sensing, drilling, assaying, and data compilation and modelling.
An airborne magnetic and gravity gradiometer survey was carried out in November, designed to enhance understanding of correlations between gravity, magnetics and mineralization. Consequently, the Beruang Kanan West prospect will be drilled next year, say company representatives, while new geophysical targets have been identified.
KSK comprises 38 mineral prospects and, until drilling starts next year, Kalimantan will continue field mapping and sampling programs on the Mansur, Baroi and Tumbang Huoi prospects while compiling and evaluating data collected over the past 15 months.
A further resistivity/induced polarization survey will be undertaken at Beruang Kanan and Beruang Tengah.
Meantime, Kalimantan Gold hopes a report confirming the potential for a gold resource at the Jelai project will attract a suitable partner. The NI 43-101 report on the North Kalimantan project outlines the low-sulphidation epithermal gold-silver mineralization present.
The Mewet vein shows the most promise with a 400 metre-long-by-20 metre-high zone at greater than 1 gram/tonne gold. Best results to date include 6.9 metres @ 24.7 grams/tonne. Eight drill targets have been proposed. The report also recommends completing a gold resource for the Sembawang and Lipan vein systems.
It says Mewet should be mined underground, while the other two veins favour open pit exploration. If grades are high enough, a scoping study should be carried out.
A total of 140 diamond drill-holes for a total of 16,813 metres have been completed in three drill-campaigns from 1997 to 2012. Some of the ore-shoots are open at depth.
“The company is seeking a partner to continue exploration on the Jelai project and this technical report confirms the potential,” says CEO Faldi Ismail.
Kalimantan Gold is a junior explorer listed on both the TSX Venture Exchange in Canada and on AIM in London. The company has two exploration projects in Kalimantan - the Jelai epithermal gold project in East Kalimantan and the KSK Contract of Work in Central Kalimantan with potential for multiple porphyry copper and gold prospects.