Exploration Update of Vatu Aurum GOLD Project, Fiji
1
Kalo Gold Corp.
Suite 1507, 1030 West Georgia Street
Vancouver, British Columbia
V6E 2Y3, Canada
www.kalogoldcorp.com
(TSX.V: KALO)
EXPLORATION UPDATE OF VATU AURUM GOLD PROJECT, FIJI
VANCOUVER, BRITISH COLUMBIA, CANADA: 11 DECEMBER 2023, KALO GOLD CORP. (“Kalo”, “Kalo Gold ” or the
“Company”) is pleased to provide an update on the ongoing 2023 Phase 3 exploration program at its flagship 100% owned
Vatu Aurum Gold Project (“Vatu Aurum” or the “Project”), Republic of Fiji.
Field exploration work completed to date in 2023 has resulted in a significant and improved understanding of the geological
setting of the epithermal gold mineralization at Vatu Aurum and has confirmed the district-scale gold potential. Importantly,
the Company has documented widespread sinters (paleo-surface expression of epithermal systems) that will provide an
important vectoring tool for gold discoveries. Furthermore, the alteration distribution associated with the most advanced
target on the Project, the Qiriyaga Hill Prospect, indicates a shallow level of erosion of the epithermal systems of between
50 meters (“m”) to 100 m, implying that the precious metal-bearing boiling zone is at depth. The Qiriyaga Hill Prospect is
associated with fragmental units with juvenile clasts and bedded sedimentary units that probably constitute a maar volcanic
setting with the fragmental (breccia) units present as a result of phreatomagmatic eruptions. These phreatomagmatic vents
would be interpreted to be a key target related to gold bearing hydrothermal fluids. The presence of numerous sinter
deposits, hosted by fragmental units at the crater (maar) level, indicates that the gold epithermal systems are fully intact.
The precious metal boiling zone is interpreted to be >100 m deeper than most of the drilling conducted to date; on this basis
an array of new targets is being developed with an updated geological and exploration model.
Terry L. Tucker, Kalo Gold President and CEO stated, “It has been a productive year for Kalo Gold. Our ongoing 2023
exploration program confirms the district-scale potential at Vatu Aurum and the potential for the discovery of several
epithermal gold deposits. The drilling and exploration program adhered to our project budget. The objective of the 2023
fieldwork completed to date, and that ongoing, will allow Kalo to focus on specific targets within an epithermal gold system
framework. The drill results at Drudrusavu were very encouraging, especially with the positive correlation between the results
of the CSAMT survey and newly discovered alteration and mineralization. The completed and ongoing exploration work will
provide an important basis to develop specific targets and focus for the 2024 exploration and diamond drilling program.”
The 2023 exploration work program highlights include:
1. A Property scale bulk leach extractable gold (“BLEG”) sampling program that successfully defined a 33 kilometer
(“km”) long NE-trending gold corridor across the Property. Numerous epithermal gold targets have been discovered
within this corridor including Nubu, Qiriyaga Hill, Wainikoro Complex, Koroiwa and Coqeloa South Prospects. (See
press release: Vatu Aurum Exploration Update 12 June 2023
2. A Property scale stream sediment sampling program successfully identified several priority target drainages with
known and previously unknown Prospects. (See press release: Vatu Aurum Exploration Update 12 June 2023
3. A Controlled-Source Audio-frequency Magnetotellurics (“CSAMT”) geophysical survey consisting of 57.6-line km
covering 12.5 km 2 over Qiriyaga Hill Prospect, which includes Drudrusavu, was completed, including coverage of
the epithermal gold mineralization of the Qiriyaga Hill and Vuinubu Ridge Gold Deposits. A detailed interpretation
of the CSAMT results defined six priority target areas with high resistivity associated with known surface gold
mineralization. See Figure 1. (See press release: Vatu Aurum Exploration Update 21 September 2023
4. The Company renewed the cornerstone Special Prospecting License (“SPL”) 1464, one of two SPLs that make up
the Project, for a term of five years to the 4 July 2028. (See press release: Vatu Aurum Permit Renewal 31 July 2023
2
5. Exploration diamond drilling completed at Drudrusavu Prospect , located within the Qiriyaga Hill Prospect area,
identified a new and separate epithermal gold system characterized by two stages of quartz-sulphide
mineralization with anhedral and open-space (comb) textures within silica-chlorite altered polymictic breccia and
dacite. Drudrusavu is associated with a large CSAMT resistivity high target (labelled target 5 in Figure 1). A total of
87 m of alteration and quartz veining was intersected in three zones in KGD-2023-08 and 65 m was intersected in
three zones in KGD-2023-09. This new epithermal gold discovery warrants testing and follow up work along strike
and at depth. See photos 1 and 2. (See press release: Vatu Aurum Exploration Update 27 September 2023
6. Exploration diamond drilling was completed at Mouta Prospect which successfully intersected two styles of
mineralization. The first is the shear-style mineralized zone and the second is the broad zone of multi-directional
epithermal sulfide veinlets consisting of zinc sulfides (sphalerite and marmatite) along with pyrite, and minor
chalcopyrite. The mineralization is interpreted to be related to a shallowly eroded phreatomagmatic eruption
setting like the other Prospects or possibly it is a telescoped epithermal system. (See press release: Vatu Aurum
Exploration Update 27 September 2023)
7. A team of geologists, with strong experience in mapping volcanic rocks, including settings with phreatomagmatic
breccias and epithermal mineralization, continue to synthesize exploration data including: i) detailed geological
and geochemical data from surface mapping of outcrops and trenches; ii) geological and geochemical insights from
re-logging drill core from Qiriyaga Hill Prospect with an emphasis on lithology and alteration; iii) integration of the
CSMAT and other geophysical databases. The goal of this work is to correlate geological units, identify vents
sources, identify boiling zones, determine controls on gold mineralization and establish an updated and
comprehensive geological and exploration model.
The focus of the ongoing work is to rank and prioritize targets for follow-up drilling in 2024 that will lead to a significant gold
discovery – interpretation of preliminary results to date indicates the key focus will be the Qiriyaga Hill Prospect.
ABOUT KALO GOLD CORP.
Kalo Gold Corp, a gold exploration company, is focused on exploration for low sulphidation epithermal gold deposits of the
Vatu Aurum Gold Project on the island of Vanua Levu (North Island) in the Republic of Fiji. Kalo holds a 100% interest in two
Special Prospecting Licenses, covering 367 km2 that hosts a minimum of seven volcanic arc related calderas ranging between
1 km to 10 km in diameter. Historical exploration work concentrated on the Qiriyaga Hill and Vuinubu Ridge Gold Deposits
and resulted in the identification of over fourteen priority epithermal gold exploration targets.
Both Viti Levu, (South Island), and Vanua Levu are on the prolific Pacific “Ring of Fire”, a trend that has produced numerous
large deposits, including Porgera, Lihir and Grasberg and on Viti Levu, the exceptional Vatukoula Gold Mine. The Vatukoula
Gold Mine has produced more than 7 million ounces of gold since 1937. The island of Viti Levu also hosts the fully permitted
Tuvatu Alkaline Gold Project, where Lion One Metals is fast tracking a high-grade underground gold mining operation.
Tuvatu is now operating and targeting production expansion and additional growth through exploration.
Qualified Person
The technical disclosure in this news release has been approved by Terry L. Tucker, P.Geo. a Qualified Person as defined by
National Instrument 43-101 of the Canadian Securities Administrators.
On behalf of the Board of Directors of Kalo Gold Corp.
Terry L. Tucker, P.Geo.
President and Chief Executive Officer
Kevin Ma, CPA, CA
Executive Vice President, Capital Markets and Director
For more information, please write to [email protected].
3
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the
Exchange) accepts responsibility for the adequacy or accuracy of this press release.
Forward Looking Statements Disclaimer
Certain statements in this release are forward-looking statements, which are statements that are not purely historical, including any
statements regarding beliefs, plans, expectations, or intentions regarding the future. Forward looking statements in this news release
include statements relating to the Company’s proposed drilling timeline and the proposed expansion of the exploration program, and the
Company’s plans for future exploration on the Vatu Aurum Gold Project. Forward-looking statements are often identified by terms such as
“will”, “may”, “should”, “anticipate”, “expects” and similar expressions. All statements included in this news release, other than statements
of historical fact, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will
prove to be accurate and actual results, and future events could differ materially from those anticipated in such statements. Important
factors that could cause actual results to differ materially from the Company’s expectations include quality and quantity of any mineral
deposits that may be located, the Company’s inability to obtain any necessary permits, consents or authorizations required for its activities,
the Company’s inability to raise the necessary capital to be fully able to implement its business strategies, and other risks and uncertainties
disclosed in the Company’s filing statement dated February 9, 2021 and latest interim Management Discussion and Analysis filed with
certain securities commissions in Canada.
The reader is cautioned that assumptions used in the preparation of any forward-looking statements herein may prove to be incorrect.
Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown
risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue
reliance on any forward-looking information. Such information, although considered reasonable by management at the time of
preparation, may prove to be incorrect, and actual results may differ materially from those anticipated. Forward-looking statements
contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news
release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking
statements as expressly required by Canadian securities law.
4
*Note: Electrical resistivity is a
measure of a material's
property to oppose the flow of
electric current. This is
expressed in Ohm-meters
(Ω⋅m).
Figure 1: Qiriyiga Hill Prospect – CSAMT 1D Inversion at 200 meters with six key target zones identified.
Qiriyaga Hill Gold Deposit
Vuinubu Ridge Gold Deposit
KGD-2023-09
KGD-2023-08
500 m
5
Photo 1: KGD-2023-08: Close-up of the interval which returned 4.17 g/t Au from 53 m to 54 m. Note the abundant quartz
veining with open-space epithermal textures.
Photo 2: KGD-2023-08: Close-up of the banded, 5 centimeter thick quartz-pyrite-chalcopyrite veinlet at 74.45 m. Assays
returned 1 m at 1.54% Cu and 21 g/t Ag from 74 m to 75 m.