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]
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