Business
Kiboko Gold Targets Maiden Mineral Resource for Mid-October
KELOWNA, British Columbia / Sep 25, 2023 / Business Wire / Kiboko Gold Inc. (TSXV: KIB) (“Kiboko” or the “Company”) reports that resource evaluation from its Ph
About this update from Kiboko Gold, Inc.
[{"type":"text","content":"KELOWNA, British Columbia / Sep 25, 2023 / Business Wire / Kiboko Gold Inc. (TSXV: KIB) (“Kiboko” or the “Company”) reports that resource evaluation from its Phase 1 exploration program for its Harricana Gold Project, located 55 kilometres (“km”) north of Val-d’Or, Québec, is nearing completion. The Company is actively working with the independent Qualified Person (“QP”) to complete the process required for reporting a mineral resource, which is expected to be completed in the first half of October. Kiboko’s President and CEO, Jeremy Link, commented, \"The anticipated maiden mineral resource will be a significant milestone for Kiboko. While we had previously anticipated reporting the results this month, delays have extended the time to complete the review process. As we work closely with the independent QP, Kiboko has embarked on the detailed planning for our next drill program. We look forward to sharing the results of the maiden mineral resource in just a few weeks.\" The evaluation process is based upon a comprehensive dataset totaling more than 85,000 m, including 70 holes (totaling 11,269 m) drilled by Kiboko between September 2022 and April 2023. The resource evaluation process has been integral to the updating of our geological models, improving our understanding of the geological framework, and replacing our exploration model with a grade-tonnage model. About the Harricana Gold Project Kiboko’s Harricana Gold Project is a consolidated 100+ km2 prospective mineral claim package that is located 55 km north of Val-d’Or, Québec, in the world-renowned Abitibi greenstone belt. Historical records compiled and digitized by Kiboko into a new geospatial dataset include data from 937 historical diamond drillholes totalling 139,397 m and 70 drillholes totalling 11,269 m drilled by Kiboko between September 2022 and April 2023, for a grand total of more than 1,000 holes totalling more than 150,000 m of drilling. The Harricana Project benefits from an exceptional location, close to operating mines, with excellent access and proximity to existing infrastructure, including a major highway, rail, and clean, low-cost, renewable hydroelectric grid power. The Harricana Project also benefits from low royalty coverage with the most significant royalty being a 2% NSR production royalty held by Globex Mining Enterprises Inc. on 195 claims coveri...