Well there's always base metals...wonder where they plan to get the cash for exploration?
Kalahari Resources Inc -
Drilling to start next week at Meech Lake-Matachewan
Kalahari Resources Inc
KLA
Shares issued 26945751
1997-10-01 close $0.75
Thursday Oct 2 1997
Mr Albert Applegath reports
A diamond drill has been mobilized to the Meech Lake - Matachewan
prospect. Crews are now on the property establishing drill set-ups, spotting drill holes and preparing access roads into the target areas. Most of the outcrops on the property were trenched and hand pitted by traditional prospecting methods. Little evidence of work is observed away from areas of high relief.
Few outcrops are observed away from the original discovery due to
overburden cover and low lying ground extending northeast and southwest. All of the original occurrences, including two gold showings, are believed to be outcrop discoveries.
A nickel-copper showing near the centre of the property returned values to 12% copper, 6% nickel from the altered dunite. High values in platinum and palladium were similarly reported from historical work. Following staking of the property in 1991, grab sample assays selected from a slumped trench near the reported showing returned the following values:
Oz/ton Pt: 0.87 .109 .13 .42
Oz/ton Pd: 0.14 .185 .23 .344
Ni%: 1.15 2.62 3.74 5.32
Cu%: 1.95 1.97 2.14 5.44
It is significant that high PGM's were returned from samples containing disseminated mineralization as well as from massive to semi-massive sulphides observed at the occurrence.
Geophysical surveys, including grid extensions just completed, have
outlined many new high priority targets including several which appear to be directly on strike with the original occurrences, and/or which bear geophysical signatures similar to the known occurrences.
The VSE has accepted for filing the company's option of the Poker
prospect. Recent geophysical work indicated that up to 500m of the linear magnetic high feature, thought to represent the strike extension of the host ultramafic sill, transect the property.
The company now holds over 260 claim units in the area representing
approximately 10,240 acres. The land package assembled through option and joint venture now extends for over 10km of favourable strike, and includes both gold as well as base metals targets.
Kalahari may earn up to an 80% interest in the original Meech Lake
Matachewan prospect through expenditures of $750,000, including
$250,000 in the initial 12 month period. The company has assembled three other properties thorough options (Kells North, Ho Toi, and the Poker prospect) and is earning 100% interest in each.
Diamond drilling is planned to begin by October 6 and will consist of a minimum 4000 foot program.
Further results will be reported as the field program progresses.
(c) Copyright 1997 Canjex Publishing Ltd.
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