kalimantan.com is their website
1-800-533-0323
their shares are selling near their lows
they are expecting drilling results
they appear to be well connected with Indonesia...just my guess
but look who is in top management...
they seem to be preparing themselves to MAKE THE STOCK MOVE
that is how I interpret the following news release
September 30, 1996 - Kalimantan Gold Corporation is
Listed for Trading on Vancouver Stock Exchange
Kalimantan Gold Corporation (VSE: KLG.U) announces that its application
for trading on the Vancouver Stock Exchange has been accepted and that the
Company's shares will commence trading in $US funds on the VSE as of
October 1, 1996. The Company has 10,661,874 shares outstanding of which
6 million are held by its major shareholder Kalimantan Investment Corporation
of Jakarta, Indonesia.
Kalimantan Gold is well financed and is currently drilling on its properties
which are located in Central Kalimantan, Indonesia, about 350 km south-west
of Bre-X's Busang deposit. At present over 100 Company personnel, are on
site and involved in the Company's ongoing drilling and exploration activities.
Kalimantan Gold has budgeted expenditures of US$ 1,976,500 for the 1996
drilling season.
No regulatory authority has either approved or disapproved the information contained
herein.
the news is beginning to flow..
September 20, 1996 - Kalimantan Gold Corporation
Announces Geochemical Results at Two Prospects and the
Commencement of a Regional Survey at KSK Property
Mansur Geiger, Vice President Exploration of Kalimantan Gold Corporation
"CDN: KALG.U", reports that encouraging and highly anomalous results have
been received from outcrop and float samples taken at the Company's Derajoi
and Baroi prospects.
The Derajoi prospect is located in the Company's eastern KSK Contract of
Work application area and is situated on a major N/W trending structure within
calcareous and silicified sediments. These sediments contain mineralized quartz
veins up to 60cm width, calcite veins and quartz breccia veins. The veins are
encountered in outcrop and in 3 meter diameter float boulders. Analysis of
samples from this area has produced results ranging as follows:
Gold 0.68 ppm to 12.1 ppm
Silver 5 ppm to 580 ppm
Copper 420 ppm to 1.04%
Lead 241 ppm to 23.10%
Zinc 134 ppm to 3.53%
Follow up exploration at this prospect is scheduled for later this year.
The Baroi prospect is located in the Company's PPK Contract of Work area
and consists of an 8 kilometer diameter ring structure. Analysis of samples from
this area has produced results ranging as follows:
Gold 0.21 ppm to 1.47 ppm
Silver 3 ppm to 43 ppm
Copper 234 ppm to 1.13%
Lead 208 ppm to 2.05%
Zn 32 ppm to 1.48%
Rocks in the Baroi drainage system consist of silicified sandstone and siltstone
sediments, quartz pyrite, quartz breccia float, and strongly silicified dacite.
Alteration noted is primarily argillic, with silicification, and chloritization.
Considering the gold, silver, copper, lead and zinc mineralization at these
prospects, follow up exploration at both sites is scheduled for later this year.
Furthermore, Kalimantan Gold announces that Company geologists have
commenced a regional survey of the entire KSK property, an area totalling
122,000 hectares. Survey teams have been deployed by helicopter to five
locations throughout the KSK property. Eight senior geologists, six graduate
trainee geologists and 50 local people are employed in the survey.
The survey will focus primarily on two prospects, Bruwang and Iri, that were
identified as a result of soil anomalies found in a previous geochemistry program
done in 1989. The Bruwang and Iri areas will be mapped and sampled for
outcrop and stream sediments. Thereafter, geochemistry grids and trenches will
be established in preparation for drill site selection.
Kalimantan Gold is an established mineral exploration company which is drilling
on properties that are located in Central Kalimantan, Indonesia, about 350 km
south-west of Bre-X's Busang deposit. At present over 100 Company
personnel, are on site and involved in the Company's ongoing drilling and
exploration activities. Kalimantan Gold has budgeted expenditures of US$
1,976,500 for the 1996 drilling season.
No regulatory authority has either approved or disapproved the information contained
herein. |
