Kalahari Resources Inc.
TSX VENTURE : KLA

Kalahari Resources Inc.

April 07, 2010 09:01 ET

Kalahari Resources Intersects Multiple High-Grade Veins including New Discovery of 24.52 g/t Gold over 0.65m and 7.97 g/t over 2.6m, including 29.91 g/t over 0.4m on Forestel Extension

- HIGH-GRADE, NARROW-WIDTH GOLD MINERALIZATION CONSISTENT WITH MINERALIZATION FOUND IN ADJACENT SIGMA AND LAMAQUE MINES, WHICH HAVE COLLECTIVELY PRODUCED APPROXIMATELY 9 MILLION OUNCES

- FURTHER DRILLING TO TEST 750M AREA OF POTENTIAL BETWEEN FORESTEL ZONE AND NO. 10 VEIN

- HIGH-GRADE, QUARTZ-TOURMALINE VEIN MINERALIZATION SIMILAR TO THAT OF THE ADJACENT SIGMA (4.5 MILLION OUNCES AU) AND LAMAQUE MINES (4.4 MILLION OUNCES AU)

- FORESTEL ZONE NOT INCLUDED IN LAMAQUE PROPERTY RESOURCE ESTIMATES

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 7, 2010) - KALAHARI RESOURCES INC. (TSX VENTURE:KLA) is pleased to announce the first phase of drill results from its 4,103 acre Lamaque Property, located in the prolific Val-d'Or gold camp of Quebec. The property is immediately adjacent to both the Sigma and Lamaque mines, which together have produced approximately 9 million ounces of gold. 

To view a map of the Lamaque property highlighting recent drill results click on the following link:

http://www.brmstatpack.com/lt/1001/1092/lamaqueapril2010

"We are pleased to announce initial results from the Forestel Zone where drilling has intersected gold mineralization in all holes and discovered what appears to be a new zone. Historic reports indicate no previous drilling has been done in the area between the Forestel Zone and No. 10 Vein. Further drilling will attempt to delineate the new zone as well as test for possible continuity with the Forestel," comments Company President, Richard Hughes. "Drill results from the Forestel Zone were not included in the Company's current resource estimate or in any historic resource calculations. After completing these three holes at the Forestel, the drill was moved to the Triangle zone and assays are expected shortly. We plan to continue drilling into May following spring break-up." 

The Company's plans for 2010 are to advance the Lamaque property with an emphasis on:

  1. Compiling recent drill results into the existing resource model to determine if an extension to the Forestel Zone can be seen in 3D to help with targeting subsequent holes.
  2. Update existing resources estimates to include recent and ongoing drill results with a goal of delineating 4-5 million tonnes of high-grade gold mineralization.
  3. Continue drilling at the Triangular and Forestel Zones with the intention of defining new resources.

FORESTEL ZONE

Including past drilling, 24 holes, or approximately 6919.88 meters of diamond drilling has been conducted on the Forestel Zone. The Forestel is new and to the east of any past production on the property. Three holes were completed in late 2009 on the Forestel Zone which has been defined over a distance of approximately 300 meters trending east-west. Drill hole FOR-09-03 intersected multiple high-grade quartz veins approximately 500 meters west of the Forestel Zone. Follow-up drilling will test for possible continuity between the recently discovered mineralization and the existing Forestel Zone. 

Hole FOR-09-01 intersected seven narrow quartz-tourmaline veins with pyrite between 85 and 244 m depth ranging between 0.30 and 1.83 g/t gold (see Table 1).

Hole FOR-09-02 intercepted numerous gold bearing quartz veins west of the Company's 2006-2007 drill program on the western boundary of the Forestel zone. One high-grade intersection was noted between 187.2 m and 189.95m depth where 12.96 g/t gold over 1.55m, or 7.97 g/t gold over 2.65 m is noted. 

Hole FOR-09-03 intersected multiple high grade veins (15.05 g/t gold over 1.00 meters and 24.52 g/t gold over 0.65 meters). The ground in between FOR-09-03 and the existing Forestel Zone remains highly prospective and will need to be drill tested. FOR-09-03 suggests some possible continuity in mineralization between the Forestel and the No. 10 Vein. The No. 10 Vein hosts an NI 43-101 (Watts, Griffis & McOuat, 2004) inferred mineral resource of 216,000 tons at 0.276 oz/t (uncut).

TABLE 1: Selected Results from the Forestel Zone Drilling Program 
DDH number From (m) To (m) Core Length (m) Gold g/t
FOR‐09‐01 85.62 86.20 0.58 0.40
" 86.20 86.85 0.65 1.47
" 86.85 88.30 1.45 0.50
" 124.17 124.58 0.41 1.30
" 210.00 211.20 1.20 0.30
" 223.43 224.30 0.87 1.83
" 244.15 245.05 0.90 0.70
FOR‐09‐02 35.35 36.00 0.65 2.03
and 80.15 80.85 0.70 6.69
" 80.85 81.40 0.55 1.13
" 90.45 90.85 0.40 9.42
" 90.85 91.50 0.65 1.77
" 91.50 92.17 0.67 5.18
" 92.17 92.82 0.65 1.13
" 111.00 111.85 0.85 8.30
" 174.55 175.50 0.95 0.43
" 175.50 175.89 0.39 1.10
" 183.40 184.00 0.60 0.37
" 187.20 188.30 1.10 0.93
" 188.30 188.73 0.43 29.91
" 188.73 189.85 1.12 6.45
" 204.60 205.20 0.60 1.50
" 242.37 243.05 0.68 0.70
" 245.82 246.14 0.32 0.33
" 249.00 250.35 1.35 0.67
" 274.57 275.08 0.51 0.40
" 277.40 277.70 0.30 3.30
" 277.75 278.75 1.00 3.69
" 288.59 289.25 0.66 0.80
FOR‐09‐03 157.27 157.80 0.53 0.50
and 223.60 224.60 1.00 15.05
and 264.23 264.88 0.65 24.52

OTHER HOLES

The Company has received assays for three other exploration holes conducted on the Lamaque property. One hole was conducted west of the Parallel Vein Zone, a zone which runs east-west for approximately 600m. The 300m deep hole intersected several subvertical and subhorizontal quartz-carbonate-tourmaline veins and shear zones were intersected. Mineralization included pyrite and pyrrhotite however no significant intervals were recorded, more drilling will be required in this area to determine the western extend of the Parallel Vein. Two exploration holes (LA-09-01, LA-09-02) were conducted on VTEM geophysical targets immediately southwest of the Parallel veins. The holes intersected dioritic and porphyritic intrusive rock with narrow bands of volcanic tuff with locally up to 10 to 40% pyrrhotite which appears to be the cause of the VTEM anomaly, no significant assays were returned. A total of 585.6 meters was drilled in these holes.

 GEOLOGICAL SETTING

The property is underlain principally by steeply dipping east-west striking volcanic flows intruded by a variety of felsic to mafic plugs, dykes and sills. Because of their intimate spatial association with most of the known gold mineralization, the felsic to mafic intrusions, locally mostly granodiorite and sills that intrude the Val-d'Or Formation are of particular importance. The mineralized zones are mesothermal structurally controlled deposits, which are typical of the Abitibi Greenstone Belt and abundant in other Archean greenstone belts around the world.

The gold bearing quartz-tourmaline veins are late and cut all rock-types including irregular intrusive (diorite) bodies, which are affected by regional deformation and greenschist grade metamorphism. Two principal types of veins occur at the Lamaque Mine and on the property: subvertical and subhorizontal veins. The subvertical veins are occurring within steeply dipping east-west trending ductile shear zones where reverse subvertical displacements have taken place. The veins occupy openings created by irregularities during progressive moment within the shears. Subhorizontal veins occupy extensional fractures, which formed between ductile shear zones, preferentially in the more competent host rocks.

The mineralized zones and deposits at Lamaque are said to be second-and-third­ order structures related to deformation along the Larder Lake- Cadillac Fault Zone; a large first-order structure. This is a common model for gold mineralization associated with large sutures or breaks like the Larder Lake- Cadillac Fault Zone and the Destor- Porcupine Fault Zone. The bulk of the gold mineralization in the Timmins, Kirkland Lake and Val-d'Or camps are thought to be splay faults, or second-order structures that splay off the principal (first order) fault zones. Gold mineralization on the property is related to second order structures, both parallel east-west and subsidiary conjugate splays.

The significant zones of gold mineralization known on the Lamaque Property comprise various simple vein structures, vein complexes and stockwork zones. These include: No. 4 Plug; No. 5 Plug; No. 35 Shear; North Shear systems located north of the No. 5 Plug; Parallel Veins Zone (includes Vein No. 10); No. 1 vein in the No. 3 Mine area; No. 6 vein; Sixteen Zone; Forestel Zone and Triangle Zone.

QUALITY ASSURANCE - QUALITY CONTROL

The Lamaque project exploration is under the direct supervision of Alain Beauregard, P.Geol. a qualified person as designated by National Instrument 43-101 who has reviewed the technical content of this release. Thorough quality assurance and quality control program (QA/QC) protocol was utilized on the project including duplicate, blank and standard samples for all the holes. The core samples were submitted directly to Bourlamaque Labs in Val-d'Or for preparation and analysis. Analysis was conducted on 1 assay ton samples. Analysis of gold was by fire assay, with a gravimetric finish on samples exceeding 5 g/t gold. The gravimetric assay results were used for the reported composite intervals.

THE LAMAQUE PROPERTY

On November 26, 2009 Kalahari announced it had negotiated the right to 100% ownership of the 4,103 acre (1,661 hectares) 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 priority gold targets that the Company plans to test during this program, many of which have never been drilled.

OPTIONS

The Company also confirms that stock options announced on September 23, 2009 are for a period of seven years.

THE COMPANY

In addition to the 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.

Visit the company website: www.kalahari-resources.com

The statements made in this Press Release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.

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