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Kalo Gold Enters into a Definitive Agreement to Acquire 100% of An Alkalic-Related Gold System to Compliment the Flagship Vatu Aurum Gold Project
NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH UNITED STATES NEWSWIRE SERVICE VAN...
About this update from Kalo Gold Corp
[{"type":"text","content":"Kalo Gold Enters into a Definitive Agreement to Acquire 100% of An Alkalic-Related Gold System to Compliment the Flagship Vatu Aurum Gold ProjectNOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH UNITED STATES NEWSWIRE SERVICEVANCOUVER, BC / ACCESSWIRE / August 15, 2022 / KALO GOLD CORP. (\"Kalo\", \"Kalo Gold\" or the \"Company\") has entered into a share purchase agreement with certain vendors to acquire all the issued and outstanding shares (the \"BCCo Shares\") of 1271895 B.C. Ltd. (\"BCCo\"), a British Columbia company owned by the principals of Agentis Capital Mining Partners that holds a 100% interest in the AxelGold Property (the \"Transaction\"). The AxelGold Property (\"AxelGold\" or the \"Property\"), a 1,575-hectare property, is an alkalic related syenite porphyry gold-copper-molybdenum target located north central British Columbia, Canada approximately 150 kilometers (km) northeast of Smithers (Figure 1). The addition of a second alkalic related gold project compliments Kalo's flagship Vatu Aurum alkaline gold project and positions the Company as a global leader in discovery and advancement of this rare and high potential class of deposit.A distinct class of epithermal precious metal deposits associated with rocks of alkaline affinity has been recognized and includes world class deposits such as the Vatukoula Mine in Fiji, Cripple Creek Mine in Colorado and the Porgera and Lihir mines in Papua New Guinea. AxelGold displays several characteristics associated with alkalic gold systems, most importantly an association with a syenite alkaline intrusive complex and mineralization associated with zones of stockwork (quartz-carbonate) veining, hydrothermal breccias, roscoelite, fluorite and disseminated pyrite.In connection with the closing of the Transaction, the Company announces an offering of up to $150,000 of flow-through common shares of the Company, details below. Field exploration work is expected to commence during the last week of August 2022. Work on the Property will include a helicopter airborne geophysical survey and ground reconnaissance geological mapping and soil geochemical sampling program.AxelGold Property SummaryAxelgold is an early stage greenfield alkalic related syenite intrusive-related gold prospect with a significant amount of historical exploration work. The Property is underlain by a multi-p...