KAL kalgoorlie-boulder resources ltd

1billion dollars worth of gold.. 8mill mkt cap

  1. 57 Posts.
    Bionic Boy good post -

    Seems very under valued to me and going to be on a lot of radars after today.

    See announcement today.

    ASX Announcement ASX Codes: KAL, KALO
    7 November 2007
    SIGNIFICANT INCREASE IN GOLD RESOURCES AT NORSEMAN

    Mt Henry Indicated and Inferred resource increased 36% to 630,000oz

    310,000oz of Mt Henry resource upgraded to Indicated Resource category for first time.

    Total Norseman Project indicated and inferred resource increased by 20% to 1.2 Moz,

    Additional drilling results from Mt Henry anticipated in two weeks
    Kalgoorlie-Boulder Resources Limited (the “Company”) is pleased to announce a significant increase in the total mineral resource base for its 100%-owned Norseman Gold Project.
    A resource upgrade at Mt Henry has resulted in a total JORC compliant Indicated and Inferred Resource totalling 10.6 Mt grading 1.9 grams per tonne for 630,000 ounces of gold, as set out below. This includes for the first time a JORC compliant Indicated Resource of 5.0 Mt at 2.0 g/t for 310,000 ounces. This combined Indicated and Inferred Resource represents an increase of 168,000 ounces or 36% on the previously published JORC Inferred Resource at Mt Henry.
    Pleasingly, both the grade and tonnage have increased in the latest estimate and 310,000 ounces have moved from Inferred to Indicated Resource category.
    The resource upgrade at Mt Henry has increased the total indicated and inferred mineral resource estimate for the entire Norseman Gold Project by 20 %, using a 1.0 g/t cut-off, to 21 million tonnes at 1.7 g/t Au for 1.2 million ounces of gold.
    The previously reported total inferred resource estimate of 1.23 million ounces calculated for the prior owner of the project used a less robust cut-off grade of just 0.7 g/t. Using a 1.0 g/t cut-off, the previous resource estimate totalled approximately 1 million ounces.
 
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