Business
Kalahari to Continue Focus on Lamaque Project in 2009
Kalahari to Continue Focus on Lamaque Project in 2009
About this update from Icg Silver & Gold Ltd.
[{"type":"text","content":"Kalahari to Continue Focus on Lamaque Project in 2009\n\n\n\nKalahari to Continue Focus on Lamaque Project in 2009\n\nVancouver, British Columbia CANADA, February 27, 2009 /FSC/ - Kalahari Resources Inc. (KLA - TSX Venture), will focus on expanding and upgrading resources and testing new geophysical targets this year at its flagship Lamaque Property near Val d'Or, Quebec. This project lies immediately south of the Lamaque and Sigma Mines, which have produced more than ten million ounces of gold since the 1930s.\n\n \"This project is situated in the heart of one of Canada's greatest gold camps,\" comments CEO and Director Richard Hughes. \"Kalahari is well positioned to benefit from strong gold prices.\"\n\nSince optioning the rights to the Lamaque Property in 2003, Kalahari has earned 100% of Teck Cominco's interest in the property through exploration expenditures and various other considerations. Kalahari has also acquired 100% of Teck Cominco's interest in the Rocdor East and Rocdor West claims, where new targets have been generated.\n \nIn 2004, the Company released an inferred resource of 1.36 million tons grading 0.186 oz. gold (cut) per ton or 0.277 oz. gold (uncut), as audited and reclassified by a NI 43-101 Technical Report. The Company will combine the results of recent drilling focused on testing for extensions of several known zones with historical drill data to generate an updated resource estimate.\n\nSubject to TSX and warrant-holder approval, Kalahari plans to re-price warrants that expire on September 12 and 28, 2009, to $0.05 per warrant with no change in their term.\n\nThe Company\n\nThe Company's main asset is the Lamaque Gold Property. Complete drilling information for this project can be found on the Company's website at www.kalahari-resources.com.\n\nIn addition to the wholly owned Lamaque Property, Kalahari Resources holds a 50% interest in diamond properties in the Chapleau-Wawa district of Ontario, with the balance held by partner Chalice Diamond Corp. \n\nCONTACT INFORMATION\nCorporate Inquiries:\tKevin Hull or Alan Campbell\n(604) 685-2222\[email protected]\n \nOr visit the company website: www.kalahari-resources.com to see the Smartstox Interview with Richard Hughes.\n\nThe statements made in this news release may contain forward-looking statement...