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Kiboko Gold Commences Phase 1 Drill Program at its Harricana Gold Project Located 55 km north of Val-d’Or, Québec
KELOWNA, British Columbia / Sep 19, 2022 / Business Wire / Kiboko Gold Inc. (TSXV: KIB) (“Kiboko” or the “Company”) is pleased to announce that the Phase 1 dril
About this update from Kiboko Gold, Inc.
[{"type":"text","content":"KELOWNA, British Columbia / Sep 19, 2022 / Business Wire / Kiboko Gold Inc. (TSXV: KIB) (“Kiboko” or the “Company”) is pleased to announce that the Phase 1 drill program for its Harricana Gold Project has commenced with two drill rigs on site. The Harricana Gold Project (the “Project” or “Harricana Project”), as shown in Figure 1, is located 55 kilometres north of Val-d’Or, Quebec, in the world-renowned Abitibi gold belt. Phase 1 drill program underway at the Fontana area of the Harricana Project The Phase 1 exploration program recommended in the Harricana Technical Report (as defined herein) consists of 12,450 metres (“m”) of drilling at the Fontana area of the Project, which is identified in Figure 2. The planned program, which is subject to modification, consists of 3,945 m of orientated HQ diamond drilling (18 holes) and 8,505 m of 5.5-inch reverse-circulation (“RC”) drilling (64 holes). The Phase 1 exploration program is fully funded and is expected to be completed in the first quarter of 2023. Exploration intended to verify historical Fontana drilling and partially validate Exploration Targets The Phase 1 program is intended to verify a significant portion of the 79,565 m of historical Fontana area drilling, characterize gold mineralization in the wall rock surrounding the main vein systems, and partially validate the Fontana area Exploration Targets (as defined herein). The near surface Exploration Targets for the Fontana area of the Project total 13.6 million to 23.1 million tonnes at a range of grades of 3.0 to 3.4 grams of gold per tonne (“g/t Au”). All of the Exploration Targets for the Harricana Project are summarized in Table 1 at the end of this release. The Company cautions that while the Exploration Targets are based upon results from historical drilling, the potential quantity and grade of the Exploration Targets are conceptual in nature, there has been insufficient verifiable exploration to define a mineral resource, and it is uncertain if further exploration will result in any of the Exploration Targets being delineated as a mineral resource. Maiden mineral resource targeted for first quarter of 2023 The Company believes that the areas targeted in Phase 1 exploration program have the potential to support a near-surface, pit-constrained mineral resource estimate. The Company continues to anticipate evaluating t...