‘Gold Elephants’ in Fijis Ring of Fire


Fiji is perhaps identified for its bottled water, however gold manufacturing retains the lights on. Fiji is positioned on an lively tectonic boundary between the Pacific and Indo-Australian Plate, often known as the “Ring of Fireplace.” This rift hosts a number of world-class copper-gold porphyry and epithermal gold deposits. One Vancouver-based junior is monitoring a minimum of yet one more.

Porgera. Lihir. Vatukoula. These are the names of a number of the “elephants” on completely different islands within the chain of nation-state archipelagos that type the South Pacific’s Ring of Fireplace. Kalo Gold Holdings Corp. (KALO:TSX.V; KLGDF:OTCQB) is hoping so as to add one other title to the listing: Vatu Aurum, a gold challenge in Fiji.

Porgera is a 25-million-ounce (25 Moz) alkaline gold deposit owned by Barrick Gold Corp. (ABX:TSX; ABX:NYSE) and the federal government of Papua New Guinea (PNG); the mammoth 40 Moz Lihir, additionally in PNG, is the crown jewel of Australia’s Newcrest Mining Ltd. (NCM:TSX). Whereas, in Fiji, the 11-Moz Vatukoula (that means Emperor), the smallest of those golden pachyderms, has been in manufacturing for many years and is now within the arms of Chinese language firm Vatukoula Gold Mines Plc (VGM:AIM).

“We all know that that is elephant nation and that this a part of the world — the Ring of Fireplace — actually bodes nicely for giant, vital gold deposits,” Kalo Gold Director & President Kevin Ma tells Streetwise Reviews. “Fiji has been fairly a prolific mining jurisdiction for the previous 50 to 60 years… It is a very mining pleasant jurisdiction.”

Ring of Fire

Vancouver-based Lion One Metals Ltd. (LIO:TSX-V; LOMLF:OTCQX) thinks so. The junior has spent a few decade in Fiji growing the advanced-stage Tuvatu challenge, a district scale alkaline gold system on Viti Levu (South Island). It’s what Kalo administration sees when it appears to be like within the mirror — solely greater.

“Kalo Gold has a major land bundle that’s comparatively under-explored. Compared with Lion One, Vatu Aurum is nearly one-and-a-half occasions their land bundle. We have already recognized near-surface mineralization; and this space has seen some vital high-grade outcomes previously,” Ma says. “So now it’s actually about searching in elephant nation and outlining the extent of the gold deposit that we’ve.”

Vatu Aurum

To that finish, Kalo launched its section 2 exploration program in January. One drill rig got here with the concessions when the corporate purchased the challenge from the Nesbitt household, which has been working in Fiji for about 30 years.

The Nesbitts now personal barely lower than 25% of Kalo, whereas Michael Nesbitt serves as director and in-country supervisor.

The frugal junior not too long ago added a second drill to the combination at a positive price.

“Previous to this we skilled some problem in shifting gear and folks round. So, having that gear on web site permits us to be extra versatile with our [drill] program. Including a rig is one thing that is actually match for us,” Kalo Director & CEO Fred Tejada, a geologist by commerce, tells Streetwise.

Drilling and floor work will concentrate on the Qiriyaga zone, which delivered some promising outcomes throughout section 1 drilling final 12 months.

Qiriyaga

Gap KGD 01 hit 101 meters grading 0.94 grams per tonne gold (0.94 g/t gold) from floor, together with a 2-meter scorching spot operating 6 g/t gold between 6 and eight meters under floor.

Gap KGD 03 hit 24 meters grading 1.01 g/t gold from 21 to 45 meters under floor, together with 2 meters of 6.27 g/t gold between 37 and 39 meters.

And KGD 04 intersected 69 meters of 0.96 g/t gold from 21 to 90 meters downhole, together with a 2-meter interval operating 5.11 g/t gold between 34 and 38 meters.

Section 2 will discover a number of drill targets outlined throughout an airborne induced-polarization (IP) survey flown in 2021, in addition to from one other utilizing floor magnetics.

Geophysical outcomes point out that previous drilling was too shallow and missed a substantial IP geophysical anomaly that will have been hit had Kalo drilled deeper.

Tejada says Qiriyaga Hill has the potential to be a a lot bigger system.

“The drilling program that we did final 12 months was to substantiate the Qiriyaga Hill mineralization. And the drilling confirms the presence of widespread, near-surface mineralization with high-grade zones. If we proceed in that path, I imagine that we are going to proceed to considerably increase the near-surface useful resource potential. Nevertheless, the very fact of the matter is that we stumbled into one thing that appears lots higher, as a result of — primarily based on the geophysics — we now have the potential of mineralization that is deeper than what we initially regarded for,” Tejada explains. “Doubtlessly, we’re a deeper useful resource.”

Kalo owns two mineral exploration licenses on Vatu Aurum’s 36,700-hectare footprint on Vanua Levu, Fiji’s North Island. Qiriyaga Hill and Vuinubu Ridge, each mineralized zones, host a mixed historic inferred mineral useful resource of 158,831 oz gold.

Ma says Kalo wants to spice up useful resource measurement to draw a serious gold producer.

“Their standards is three to 5 million ounces, proper? That is what they’re . I believe we’re already on their radar, and I believe we’re in all probability one or two holes of optimistic outcomes away from getting some actually first rate gamers in right here to assist Kalo,” Ma says. “We have got a really sturdy cap construction with a really good shareholder base, and it has been positioned to some very respected traders within the capital markets (in Canada).”

The corporate introduced a $3 million brokered personal placement in November and has sufficient funding to finish its present drill program. It must increase more cash afterward.

Kalo Gold trades in a 52-week vary of $0.59 and $0.17.

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Disclosures
1) Brian Sylvester compiled this text for Streetwise Reviews LLC and gives providers to Streetwise Reviews as an unbiased contractor. He or members of his family personal securities of the next firms talked about within the article: None. He and members of his family are paid by the next firms talked about on this article: None. His firm has a monetary relationship with the next firms referred to on this article: None.
2) The next firms talked about on this article are billboard sponsors of Streetwise Reviews: Lion One Metals. The data offered above is for informational functions solely and isn’t a suggestion to purchase or promote any safety.
3) The article doesn’t represent funding recommendation. Every reader is inspired to seek the advice of along with his or her particular person monetary skilled and any motion a reader takes because of info offered right here is his or her personal accountability. By opening this web page, every reader accepts and agrees to Streetwise Reviews’ phrases of use and full authorized disclaimer. This text is just not a solicitation for funding. Streetwise Reviews doesn’t render normal or particular funding recommendation and the data on Streetwise Reviews shouldn’t be thought-about a suggestion to purchase or promote any safety. Streetwise Reviews doesn’t endorse or suggest the enterprise, merchandise, providers or securities of any firm talked about on Streetwise Reviews.
4) Every so often, Streetwise Reviews LLC and its administrators, officers, staff, or members of their households, in addition to individuals interviewed for articles and interviews on the location, might have an extended or brief place in securities talked about. Administrators, officers, staff or members of their rapid households are prohibited from making purchases and/or gross sales of these securities within the open market or in any other case from the time of the choice to publish an article till three enterprise days after the publication of the article. The foregoing prohibition doesn’t apply to articles that in substance solely restate beforehand printed firm releases. As of the date of this text, officers and/or staff of Streetwise Reviews LLC (together with members of their family) personal securities of Kalo Gold Corp., Lion One Metals and Barrick Gold, firms talked about on this article.

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