17th Apr 2007 09:15
Kalimantan Gold Corporation Limited For Immediate Release NR07-2 April 17 , 2007Vancouver, British Columbia TSX Venture Exchange and AIMSymbol: "KLG" KGC mobilises to drill East Kalimantan gold prospect Kalimantan Gold Corporation Limited has been given the goahead to drill its Jelai-Mewet gold property in East Kalimantan, Indonesia.With the grant today of a forestry permit, the company has all the permittingin place and is upgrading facilities at the site to support the drillingoperation. It believes that the 100%-owned, 5,000 hectare prospect has thepotential to yield a major epithermal gold-silver deposit."The concession was previously explored by Indochina Goldfields (now IvanhoeMines) who confirmed the presence of some very high-grade gold mineralization.We are continuing where they left off by drilling a further 4,000 meters at themain Jelai-Mewet prospect area which will primarily test the extent ofmineralization and provide further structural information as a precursor to thepossible definition of an initial gold resource," commented Kalimantan Gold CEORahman Connelly.In March 2006, Kalimantan mobilized its geological team to locate the positionsof the Indochina drill holes and assess the full extent of the Mewet goldsystem. The crew was successfully able to locate all of the 26 diamond drillholes and 52 trenches. The next step for the company is to validate the resultsof the Indochina work, including the examination of previous drill holes andremapping and sampling of selected older trenches.
While the property contains 11 known gold veins only one, the Mewet vein system, was explored by Indochina Goldfields, who achieved highly promising results drilling just 10% of a five kilometer strike length. Previous drill results included 1.7m @11.1 g/t gold, 4.5m at 6.4 g/t gold and 6.1m @ 5.7 g/t gold.
KGC's proposed drill program will encompass diamond drilling around 32 holes to further test the Mewet mineral veins to at least 150m depth and over a cumulative strike-length of at least two kilometers. The program will be undertaken using a 300 meter rig and an 80 meter capacity scout rig.
All data, as disclosed in this press release, have been verified by the Company's Qualified Person for the Jelai-Mewet project, Brett Dennis Gunter.
About Kalimantan Gold
Kalimantan Gold Corporation Limited is a junior exploration company listed onboth the TSX Venture Exchange in Canada and on the AIM market of the LondonStock Exchange. The company is focused on copper and gold in Indonesia and hasexploration rights in two areas: the Jelai-Mewet epithermal gold prospects inEast Kalimantan and the copper-gold porphyry prospects in Central Kalimantan.
For further information please visit www.kalimantan.com or contact:
Rahman Connelly Gerald Cheyne Deputy Chairman and CEO, Keith, Bayley, Rodgers & Co Limited Kalimantan Gold Telephone: +44 (0)20 78712274 Telephone: +61 7 552 32298 Email: [email protected] +61 418 116 955
Email: [email protected]
Nick Cottam Associates (UK public relations) Telephone +44 (0) 7834 978139
The TSX Venture Exchange does not accept responsibility for the adequacy or the accuracy of this release.
KALIMANTAN GOLD CORPORATION LTDRelated Shares:
Asiamet Res