Re: China's $3,000,000 PP in our next door neighbour...
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Sep 15, 2010 12:28PM
About Kalahari Resources Inc.
Kalahari has negotiated the right to 100% ownership of the 3,074 acre Lamaque property, located in the Abitibi Greenstone Belt, one km north of the "Cadillac Break" and immediately south of the Lamaque and Sigma mines. The Sigma mine produced approximately 4.4 million ounces of gold and the Lamaque mine, on the northern boundary of the property, produced approximately 4.5 million ounces of gold over its lifetime primarily from the 'Main' plug, a geological feature similar to the no. 4 Plug located on the property. The No. 4 Plug and another zone known as the No 10 Vein collectively have an inferred mineral resource of 1,365,000 tons grading 0.186 opt gold (cut) or 0.275 opt gold (uncut) as audited and reclassified by Watts, Griffis & McOuat's NI 43-101 Technical Report, dated September 2004 (see Sedar October 20, 2004 for details of report). Since the Company acquired the Lamaque property in 2003 over $4.5 million has been spent on exploration expenditures. There are a number of other priority gold targets that the Company plans to test during this program, many of which have never been drilled.
RR