Some of the best gold discoveries have been made along the so-called “Ring of Fire”, such as the world’s second-largest gold mine, Grasberg in Indonesia. In fact, the majority of Earth’s porphyry copper-gold deposits and several epithermal gold deposits occur along the Ring of Fire. This is because the Ring of Fire is a region around much of the rim of the Pacific Ocean where many volcanic eruptions and earthquakes occur. It is this activity that brings the huge gold deposits towards the Earth’s surface.
One company has a gold project along the prolific Ring of Fire, located in Fiji, a beautiful Pacific Island. The company is Kalo Gold Holdings Corp. (TSXV: KALO) (“Kalo Gold”).
Interestingly, in the Fijian language “Kalo Kalo” means “star”. Kalo believes that they may have a star mineral property in the making and perhaps a star mineral district for Fiji.
Kalo Gold’s Vatu Aurum Project is located in Fiji and strategically along the Pacific Ring of Fire – The Pacific Ring of Fire is known for its many huge gold deposits
Source: Company spotlight presentation
Kalo Gold’s Vatu Aurum Gold Project
Kalo Gold is focused on their 100% owned high-grade Vatu Aurum Gold Project on Fiji’s north island of Vanua Levu. Kalo Gold holds two mineral exploration licenses covering over 36,700 hectares.
The Project has a Historical Resource of 158,831 oz Au (not to be relied upon) as well as some high-grade gold in drill core intercepts such as hole KCD17 with 10m @ 27.18g/t Au (including 1m @ 120g/t Au) and hole KCD18 with 6m @ 15.88g/t Au.
Historical work included 9,479m of diamond drilling, 50% was done by Placer Pacific, concentrated in the resource area at Qiriyaga Hill. The area needs further drilling to better define the Resource. Exploration is done with an in–house drill which results in low costs and greater efficiency. To date, only 2% of the land has been explored leaving large potential for district-scale discovery.
Announced in March 2021, the first two drilling results at the Qiriyaga Zone on the Vatu Aurum Gold Project results were impressive with results including:
- “First hole drilled, KGD-01, recorded multiple thick, near surface gold intersections, over an interval of 101m averaging 0.94 g/t Au, starting at surface.
- KGD-01 intersected multiple higher-grade intersections, including 2m at 6.00 g/t Au at 8m depth, 16m at 2.08 g/t Au at 69m depth including 2m at 5.36 g/t Au at 69m depth.”
Announced on May 26, 2021, Kalo Gold reported high-grade gold-silver-copper mineralization at Mouta Prospect on the Vatu Aurum Gold Project, results including:
- “2 g/t Au, 645 g/t Ag and 3.12% Cu (19.3 g/t AuEq) from rock chip outcrop sampling and 3.06 g/t Au, 819 g/t Ag and 1.63% Cu (16.6 g/t AuEq) from historical stockpile grab sample.”
Kalo Gold’s Vatu Aurum Project has 7 historic and 7 new targets spread along a 25 km belt
Source: Company spotlight presentation
The Project region has good infrastructure and access for active exploration and mining. Fiji has a long history of mining operations including the Vatukoula Mine which has been producing gold for over 75 years, with over 7 million ounces of gold produced. Fiji is a prolific, proven, and growing mining jurisdiction.
Kalo Gold has proven management with ~30% share ownership, so good skin in the game. Director & CEO, Technical Lead, Fred Tejada, P.Geo has over 35 years of international mineral industry experience with both major and junior companies.
Kalo Gold Holdings trades on a market cap of C$16 million reflecting the early exploration stage of the company. The Historical Resource of 158,831 oz Au is not to be relied upon but is a useful rough guide of what has been found to date. Drill results announced in March 2021 were very encouraging and the potential of the region looks very exciting.
As with all junior miners, there is exploration risk and sovereign risk, but in this case, there is also the chance at big reward given the Ring of Fire location. Just maybe a ‘star’ will be born as the name kalo kalo suggests. Stay tuned for further exploration results in 2021.