I don't know who to credit for this little article. It is from the Proactive Investor in the UK.
Kalahari Resources Inc (TSX-V: KLA) is set to begin its new 6,000 drilling program by the end of November on its now wholly-owned Lamaque gold property.
The group announced roday that the respective shareholders of un-listed Golden Pond Resources and Tundra Gold Mines approved the transfer of their holdings in the property.
The Vancouver-based explorer said it has identified 12 targets on the property, a number of which will be drill-tested in the coming months.
The Lamaque property was previously owned through a joint venture between the three parties, with Kalahari previously owning a 72.45% interest in the property. Kalahari chairmanRichard Hughes said the transaction was ‘a major milestone’ as the previously fragmented ownership kept the property from being properly developed.
The Lamaque property is located in the Abitibi Greenstone Belt, 1 km north of the Cadillac Break and immediately south of the Lamaque and Sigma mines that have produced 9.5Moz with the Lamaque mine accounting for 3.4Moz.
The recently expanded Triangular Zone continues to be the priority for the upcoming drill program. Kalahari’s previous drilling near the area intersected a plug approximately 85 feet below surface and ended while still in the plug at approximately 700 feet below surface. Previous drilling on the buried plug discovered adjacent to the Triangular zone intersected 6.9 ounces per tonne gold over 2.9 feet at approximately 485 feet below surface.
The Main Plug of the Lamaque Mine, which is on the adjacent ground to the north, where Teck-Cominco has produced over 3.6 million ounces of gold. According to Kalahari large proportions of the Lamaque mines gold were excavated from narrow high grade-veins which radiate outward from the plugs.
Kalahari says the buried plug near the Triangular Zone has a geophysical signature approximately twice the size of the signature associated with the Main plug on the Teck-Cominco Lamaque Mine.
Initial drilling will focus on determining the extent of the plug as well as testing for mineralized zones
