Kalo Gold Identifies Electrum in Drill Core, Sharpening Targets at Vatu Aurum
KLGDF sits 39% above its 52-week low of $0.082 on light trading volume (0.1× avg).
Summary
Kalo Gold confirmed the presence of electrum, a gold-silver alloy, in drill core from its Wainikoro target at the Vatu Aurum Project in Fiji. SEM-EDS analysis identified a 20-micrometre electrum grain with 68.6 wt.% gold and 31.4 wt.% silver in hole VA26-DH19. This is the first direct mineralogical evidence of gold-silver mineralization at Wainikoro, supporting a structurally controlled hydrothermal model. The findings refine drill targeting by linking gold enrichment to brecciated, sulphide-bearing intervals. No new assay results were reported; the previously disclosed 1.61 g/t gold over 1.50 metres remains the key intercept. The company is a micro-cap explorer with a market cap around $13.5 million, so this technical milestone is material for its exploration thesis.
At the time of this announcement, KLGDF was trading at $0.11 on OTC in the Industrial Applications And Services sector, with a market capitalization of approximately $13.5M. The 52-week trading range was $0.08 to $0.43. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: ACCESS Newswire.