Kalimantan Gold Corp. saw it shares rocket on Tuesday morning after announces strong results from its ongoing delineation and scout drilling programs at its KSK Copper Project in Indonesia, together with plans for a substantial drilling and exploration programme at the project in 2013.
The programme has been budgeted up to $16.2m.
Drilling has so far intersected broad intervals of significant copper mineralisation, including 60.1m at 1.03% copper and 67.5m at 0.63% copper.
The preliminary resource estimate for Beruang Kanan is expected in the second quarter of the year.
The group also said that field mapping at eastern Beruang Tengah has identified strong sulphide mineralisation in outcrop, measuring 250 by 250 meters, and returned preliminary assays of up to 9.6g per tonne of gold from rock chip samples.
At the end of January, 17 out of 29 proposed holes had been completed at Beruang Kanan.
first thing at 4.95p,thought this would fly today,just hope it i'm right in the end,i thought the market cap was way,way,too low for the news of the RNS,in fact i thought it might do a GMA looks like i'm wrong,very hard too second guess what other investers think is a good buy.
Nice little find but nothing as yet for Freeport. Chump change at the moment. Nice to see Faldi not going on about the people and how they are being helped financially when pi's are in such a loss at the moment. Looks like they are on the right track to finding something worth while. If they find at least 1% copper I will be piling all funds into KLG even if they have jumped to 20p+. Still watching and waiting in anticipation. Bunny
too illiquid and small for it to be noticed by institutional money (if youre running a big fund you dont have time to look at these sized companies as the position you could take is still immaterial)....however what it does do is give Faldi & team the ammunition to put the company's case in front of investors as a screaming buy... all good!
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