Assay results from the first four holes drilled at Kalimantan Gold Corporation’s flagship Beruang Kanan Copper Project (BK) in 2015 have revealed high-grades of copper and have, therefore, confirmed the project’s potential. Three of the holes unearthed high-grades, some of it near surface and one revealed three distinct mineralized sections.
The first four holes drilled intersected visual near surface copper mineralization predominately hosted in stock work fractures and quartz veins, and as open space fill. Final assays were received for a total of 323.1 metres in the four drill holes.
One was drilled as an infill hole on section line and intersected strong near-surface copper mineralization in brecciated and silicified volcaniclastic rocks.
Three wide intervals of mineralization were reported: 14 metres from 4.7 metres @ 2.02% copper, including 6.0 metres @ 3.71%; 22 metres from 32.0 metres @ 0.88%, including 5.0 metres @ 1.10% and 6.0 metres at 1.57%; and 15 metres from 76.0 metres @ 0.57%.
A second, also drilled as an infill hole, hit a post mineral dyke and failed to intersect the key target zone of mineralization. Three narrow mineralized intervals were intersected including a small interval assaying 2 metres from 49.5 metres @ 2.08%.
Another hole intersected a cumulative 23 metre interval over three individual intersections of highly elevated copper mineralization in centimetre to metre scale quartz veins. Better assays received from this interval include 9.0 metres from 19 metres @ 0.73% and 10.0 metres from 41.0 metres @ 0.57%.
The fourth hole, also collared as an infill hole, intersected a broad zone of copper mineralization comprising covellite and chalcocite in centimetre scale quartz veins and zones of strong silicification. Copper mineralization is more pervasive than previous holes located nearby and extends beyond the current limits of the BK Main deposit. Best result was 54 metres from 16.5 metres @ 1.10% copper, including 16 metres @ 1.67% and 19 metres @ 1.22%.
The 2015 drilling program at the BKM deposit is designed to increase confidence and expand the deposit beyond the known resource. The first four holes have confirmed continuity of mineralization on each section line and one hole indicates copper mineralization is potentially more pervasive in the southern part of the BKM deposit than previously recognized.
The potential for additional mineralization in the southern part of the BKM deposit is also supported by recent field mapping which identified strong veining and stockwork copper mineralization in sub-crop and outcrop. Further drilling is planned to fully define the extent of mineralization in this area.
Kalimantan Gold’s chief executive officer Tony Manini says, “We are very pleased with the initial assay results from the 2015 drill program at the BK project.
The continuity of copper mineralization observed to date has fully met our expectations and we have already identified an area to the south of current drilling with potential to further expand the BKM deposit.
“We have a comprehensive program of drilling and test work proposed for the BKM deposit and nearby prospects in 2015.”
The BKM deposit has an initial inferred mineral resource of 47 million tonnes averaging 0.6% copper for 621.7 million pounds of copper, including 12 million tonnes averaging 1% copper.