Definition drilling continues to intersect significant copper mineralization at the Beruang Kanan prospect of Kalimantan Gold's KSK Copper Project. Highlights from drilling are 60.5 metres @ 0.65% copper, including 22.5 metres @ 1.27% copper in one hole, and 64.9 metres @ 1.24% copper, including 33 metres @ 2.29% copper and 9 metres @ 7.35% in another hole.
The company says the extension of the copper sulphide mineralization at Beruang Kanan supports the current exploration model of the Beruang Kanan prospect as a volcanic hosted massive sulphide (VHMS) system.
Detailed drilling indicates that the semi-massive, vein- and breccia-hosted, disseminated and stock-work VHMS-style copper mineralization has a strike length of at least 900 metres (north to south), is laterally extensive for 100 to 235 metres and is up to 80 metres thick.
Kalimantan Gold adds that the extension of mineralization intersected in an historic Kalimantan drill hole, located on an east-west section 250 metres south of the area of detailed drilling, indicates that copper mineralization continues to the south of the area of detailed drilling.
At Mamuring prospect, a deep diamond drill hole intersected deep-seated gold mineralization associated with late quartz–pyrite veins. Significant assay results include 293 metres @ 0.40 grams/tonne gold, 9 metres @ 0.86 grams/tonne, 24 metres @ 0.44 grams/tonne, 3 metres @ 6.01 grams/tonne, 24 metres @ 0.89 grams/tonne and 3 metres @ 5.14 grams/tonne.
A single drill hole at Bukit Dea prospect returned narrow zones of elevated gold geochemistry. Kalimantan Gold is evaluating surface data and drilling results to determine if the hole actually pierced the zone of high-grade gold mineralization that was defined by surface rock chip sampling.
Drilling is well under way at the Baroi and Tumbang Huoi prospects. At Baroi one deep hole and one shallow hole have been completed. A drill hole targeting 600 metres is in progress, while at Tumbang Huoi one deep hole and one shallow hole have been completed.
The company says the drilling program at the KSK contract of work (CoW) will be suspended after the current holes are completed. An airborne gradiometer and magnetic survey covering the entire KSW CoW is being conducted and is expected to take four to six weeks to complete.
During this period field mapping and sampling programs will continue at Mansur, Baroi and Tumbang Huoi prospects, and the senior geology team will also focus on compilation and evaluation of the enormous amount of data collected over the past 15 months.
Over the next several months the company will focus on re-logging campaigns of drill core in the framework of its expanded understanding of the district geology derived from the past 15 months of intensive effort. The company says its exploration budget for 2013 of US$16.2 million will be maintained or even exceeded.
“We are extremely pleased with the latest drill results, which confirm the presence of additional copper zones at the Beruang Kanan project area,” says CEO Faldi Ismail. “We need this breather to properly analyse and interpret the enormous data set we have collected over the past 15 months to ensure every hole we drill is well placed.
“The next phase of drilling, in addition to our other main porphyry target areas, will include focusing on expanding the BK5 zone at Beruang Kanan and will continue to extend the broader zone of disseminated and vein hosted copper mineralization to the north, south and west.”