KALO GOLD Commences 2023 Exploration Program at Vatu Aurum GOLD Project IN Fiji
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Kalo Gold Corp.
Suite 1430, 800 West Pender Street
Vancouver, British Columbia
V6C 2V6, Canada
www.kalogoldcorp.com
(TSX.V: KALO)
KALO GOLD COMMENCES 2023 EXPLORATION PROGRAM AT VATU
AURUM GOLD PROJECT IN FIJI
VANCOUVER, BRITISH COLUMBIA, CANADA: 25 JANUARY 2023, KALO GOLD CORP. (“Kalo”, “Kalo Gold” or the “Company”)
is pleased to announce the commencement of the Phase 3 exploration program at its flagship 100% owned Vatu Aurum
Gold Project (the “Project”) located in the Republic of Fiji. The district‐scale Project covers 367 square kilometers (“km2”)
and hosts a minimum of seven volcanic arc related calderas ranging between 1 kilometer (“km”) to 10 km in diameter (see
Figure 1) in a geological setting analogous to the alkaline related low sulphidation epithermal gold deposits of both the
neighbouring Vatukoula Gold Mine and the Lion One Metals’ Tuvatu Gold Deposit.
The Company owns two diamond drill rigs and drill crews have been mobilized to site. A full maintenance program is being
completed on one of the drills which will be used to diamond drill test targets that have been identified at both Qiriyaga
and Mouta. Exploration work will consist of a bulk leach extractable gold (“BLEG”) and stream sediment sampling program.
The Company has engaged with a geophysical contactor to complete a controlled‐source audio‐frequency magnetotellurics
(“CSAMT”) geophysical survey over the Qiriyaga Prospect, and surrounding area and is planned to commence after the rainy
season, in April 2023.
Terry Tucker, President & CEO of Kalo Gold, stated “We are excited to embark on our 2023 exploration program at Vatu
Aurum, as we anticipate building on the high‐grade historical results at Qiriyaga and Mouta while uncovering new mineral
discoveries on our land package. This program will represent a significant step forward for our company, and we are
confident that it will generate exciting results and aide in our understanding of this alkaline system.”
The Qiriyaga Hill Prospect sits on the boundary of the Qiriyaga Caldera (see Figure 1) in an analogous geological setting as
the alkaline related, low sulphidation, epithermal Vatukoula Gold Deposit which has produced over 7 million ounces of gold
since 1937. Work to date has identified a large argillic alteration zone associated with high grade epithermal gold
mineralization yielding historical drill results highlighted by 8.75 m averaging 36.02 g/t Au in hole KCD17 and will be the
focus of continued exploration and follow up diamond drilling.
The Mouta Prospect is located on the flank of the Mouta Caldera approximately 9km north of Qiriyaga Hill (see Figure 1).
The mineralization at Mouta is characterized by the presence of massive black chalcedonic quartz veining with chalcopyrite
and disseminated pyrite on fresh surfaces and with copper oxide minerals on weathered sections. Select grab samples at
Mouta have yielded 9.8 g/t Au, 190 g/t Ag and 11.3% Cu and separately 6.2 g/t Au, 645 g/t Ag and 3.12% Cu. Following the
completion of the rainy season an old access road to Mouta will be refurbished to allow access for the diamond drill rig.
Granting of Deferred Share Units (DSUs)
Pursuant to the Company’s Long Term Incentive Plan, the Company announces it has issued an aggregate of 5,000,000
Deferred Share Units (DSUs) to certain officers, directors, and advisors of the Company. The DSUs will vest on January 16,
2024. Each DSU represents the right to receive one common share in the share capital of the Company.
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
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Special Prospecting Licenses, covering 367 km2. Historical exploration work includes 11,423 m of diamond drilling,
concentrated on the Qiriyaga Hill and Vuinubu Ridge Gold Deposits and 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 7M ounces of gold since 1937. The island of Viti Levu also hosts the Tuvatu Project,
where Lion One Metals has identified an Indicated Resources of 1.00M tonnes at 8.48 g/t Au (274,600 ounces Au) and an
Inferred Resource of 1.33M tonnes at 9.0 g/t Au (384,000 ounces Au) (reported at a 3.0 g/t Au lower cut‐off).
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
and
Kevin Ma, CPA, CA
Executive Vice President, Capital Markets and Director
For more information, please write to [email protected].
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.
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Figure 1 – Vatu Aurum Gold Property – caldera features associated with alteration and rock and soil geochemistry results
Qiriyaga Caldera