VANCOUVER, BC / ACCESSWIRE / September 17, 2024 / KALO GOLD CORP. ("Kalo", "Kalo Gold" or the "Company") is pleased to announce the commencement of field exploration at its 100% owned Vatu Aurum Project (the "Project") located in the Republic of Fiji. Field exploration work completed over the past 30-plus years has been part of a year-long compilation program led by the SGDS Hive Team and has resulted in a significant and improved understanding of the geological setting of the epithermal gold mineralization at Vatu Aurum and its district-scale gold potential.
The compilation by the SGDS Hive Team, led by Andy (Andrew) Randell, P.Geo. focused on developing a geological model of Vatu Aurum by integrating and interpreting all the existing exploration data. The identification of widespread sinters (paleo-surface expression of epithermal systems) will provide an important vectoring tool for potential new gold discoveries. The exploration work will focus on the identification of hydrothermal fluid vent sources, determine structural controls of the gold mineralization, and establish an updated and comprehensive geological and exploration model to identify new epithermal systems with the objective to expand the existing historical gold resources (see news releases dated March 10, 2021 and February 15 and 26, 2024).
Exploration work will initially focus on the Qiriyaga and Vuinubu Ridge Gold Deposits and the Vuinubu Ridge to Namalau Trend. The Namalau Trend is a >2,000 meter ("m") northeast trending priority epithermal gold target located along the deep seated Nubu Graben Fault. Field work to date indicates that less than 20 meters of the epithermal system has been eroded and it is interpreted that trenching and shallow drilling has intersected only the upper portion of the epithermal system.
Terry L. Tucker, P.Geo., Kalo Gold President and CEO stated "Over the past 30 plus years, exploration by Placer Dome, Camelot, TVI Pacific and Kalo Gold have collected well in excess of CAD$30M of exploration data. A compilation of this work, by the professional team at SGDS Hive and in particular Andy Randell, P.Geo., has led to the start of this new and exciting field exploration program with the SGDS Team and Kalo Team, including myself, now in the field to advance Vatu Aurum."
ABOUT SGDS HIVE
SGDS Hive, stands as a premier geological consultancy, boasting over a decade of distinguished mineral exploration industry experience. Their expertise extends across global projects, from greenfield exploration to pre-feasibility studies, supported by a team of award-winning and professionally accredited geologists. Their specialists are recognized for their proficiency in epithermal, sedimentary, structural and basin-scale geological models. With a robust background in gold, silver, copper, and rare earths, SGDS Hive provides tailored insights and innovative solutions to meet the unique demands of each project. In addition to their geological expertise, they offer comprehensive support in permitting, land management, indigenous relations, community engagement, corporate presentations, media relations, GIS and data management.
ABOUT KALO GOLD CORP.
Kalo Gold Corp, a gold exploration company, is focused on exploration for low sulphidation epithermal gold deposits on the Vatu Aurum Project located on the island of Vanua Levu (North Island) in the Republic of Fiji. Kalo holds a 100% interest in two Special Prospecting Licenses, covering 367 km2 that hosts a regional scale back arc basin, the Nubu Graben, and several volcanic arc related calderas. Historical exploration work concentrated on the Qiriyaga Hill and Vuinubu Ridge Gold Deposits and resulted in the identification of numerous priority epithermal gold exploration targets.
Both Viti Levu, (South Island), and Vanua Levu are on the prolific Pacific "Ring of Fire", a trend that has produced numerous large deposits, including Porgera, Lihir, Grasberg, Martha Mine in New Zealand and on Viti Levu (South Island), the exceptional Vatukoula Gold Mine. The Vatukoula Gold Mine has produced more than 7 million ounces of gold since 1937 and continues operations today. The island of Viti Levu also hosts the fully permitted Tuvatu Alkaline Gold Project, where a high-grade underground gold mining operation has been fast tracked to production.
Qualified Person
The technical disclosure in this news release has been approved by Terry L. Tucker, P.Geo. a Qualified Person as defined by National Instrument 43-101 of the Canadian Securities Administrators.
On behalf of the Board of Directors of Kalo Gold Corp.
Terry L. Tucker, P.Geo
President and Chief Executive Officer
and
Kevin Ma, CPA, CA
Executive Vice President, Capital Markets and Director
For more information contact, please write to info@kalogoldcorp.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this press release.
Forward Looking Statements Disclaimer
Certain statements in this release are forward-looking statements, which are statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward looking statements in this news release include statements relating to the Company's intention with the use of proceeds and the Company's plans for future exploration on the Vatu Aurum GoldProject. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements included in this news release, other than statements of historical fact, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results, and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include quality and quantity of any mineral deposits that may be located, the Company's inability to obtain any necessary permits, consents or authorizations required for its activities, the Company's inability to raise the necessary capital to be fully able to implement its business strategies, and other risks and uncertainties disclosed in the Company's filing statement dated February 9, 2021 and latest interim Management Discussion and Analysis filed with certain securities commissions in Canada.
The reader is cautioned that assumptions used in the preparation of any forward-looking statements herein may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect, and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law.
SOURCE: Kalo Gold Corp.
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