VANCOUVER, BC, CANADA, April 21, 2022, KALO GOLD CORP. (TSXV:KALO) (“Kalo,” “Kalo Gold,” or the “Company“), is pleased to announce that Mr. Terry L. Tucker, P. Geo, has joined the Company as President and Chief Executive Officer. Mr. Fred Tejada has been appointed Executive Vice President, Exploration and Mr. Kevin Ma has been appointed Executive Vice President, Capital Markets. Both Mr. Tejada and Mr. Ma will remain Directors of Kalo.
Mr. Terry L. Tucker, P.Geo. is a seasoned mining entrepreneur and professional geoscientist with over 30 years of experience in mineral exploration and development projects worldwide having acquired or discovered several gold deposits, of which three have advanced to production. Prior to moving to Switzerland in 2011, he was the CEO and Director of Nyota Minerals Limited (AIM, ASX) focused on an advanced stage gold project in Ethiopia. He was also President, CEO and Director of TSX listed StrataGold Corporation, where he successfully advanced the exploration and development of two gold projects in both Guyana and Canada before acquisition by Victoria Gold Corp (TSX-V: VIT) in June 2009. Previously, he was responsible for several exploration projects in northern Canada, including the co-discovery of the precious metal rich Wolverine Deposit. Terry is currently Executive Chairman and Director of Southstone Minerals Limited (TSX-V: SML), with a producing alluvial diamond mine in South Africa, a Director of Djado Gold PLC, a private United Kingdom gold exploration company and a member of the Association of Professional Engineers and Geoscientists of British Columbia.
Kevin Ma, Director of Kalo Gold comments, “On behalf of the Board and our Advisors, we would like to welcome Terry to the Company. We look forward to building out Kalo Gold and the Vatu Aurum Gold Project into a multi-million-ounce gold discovery. Kalo is exploring in some of the world’s most prospective geology, in the heart of the Pacific Ring of Fire volcanic region, where several of the world’s largest gold mines have been discovered. Kalo successfully completed the phase 2 drill program with results pending. We are excited to have Terry lead Kalo into the next phase and evolution of Kalo Gold Corp.”
Terry L. Tucker, P.Geo. CEO states, “Kalo Gold’s district-scale property represents an outstanding exploration and development opportunity within the Ring of Fire where numerous giant gold mines have been found including the Vatukoula alkaline gold system, also located in the Republic of Fiji, where production exceeds 7 million ounces of gold and exploration, and production is ongoing. The opportunity to work with the Kalo team to advance the Company’s highly prospective Vatu Aurum Gold Project, in the politically stable and mining friendly jurisdiction of Fiji, represents an excellent opportunity. It was important for me that the Company had acquired a large and highly prospective land package, owns its own drill rigs, and had assembled an outstanding geological, management, Board and Advisory team which are critical to successfully advancing both the Project and the Company. Kalo, and its land package in Fiji, represents a rare opportunity to make a new, potentially economic, gold discovery.”
About Kalo Gold Corp.
Kalo Gold Corp. is a gold exploration company focused on the epithermal Vatu Aurum Gold Project on the island of Vanua Levu (North Island) in the Republic of Fiji. Kalo holds a 100% interest in two Special Prospecting Licenses, covering 36,691 hectares, located along what is known as the Pacific “Ring of Fire”. The Ring of Fire hosts many of the largest gold deposits in the world. Historical exploration work includes over 9,000 meters (m) of diamond drilling, concentrated on the Qiriyaga Hill Gold Deposit and resulted in the estimation of a historical gold resource.
Drilling at Qiriyaga Hill, located in the southern end of the 3.3-kilometer-long northeast trending Qiriyaga Zone, confirmed the presence of high-grade gold mineralization including those in KCD17 which intersected 8.75 m averaging 36.02 grams per tonne (g/t) gold (Au) (61.25 m – 70.00 m) and 10.00 m averaging 27.18 g/t Au (76.00 m – 86.00 m) including 3.00 m averaging 69.03 g/t Au (80.00 m – 83.00 m). Outside of Qiriyaga Hill there are fourteen epithermal style gold targets, some with copper mineralization, located within or around calderas that are present in the property, that have been identified by Kalo Gold and previous operators. These targets, along with Qiriyaga Hill, will continue to be the focus of continued exploration work that is ongoing or will be conducted by Kalo.
The technical information in this news release was reviewed by Fred Tejada, P.Geo, a director and officer of Kalo Gold, a qualified person as defined by National Instrument 43-101 (NI 43-101).
On behalf of the Board of Directors of Kalo Gold Corp.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this press release.
Forward Looking Statements Disclaimer
Certain statements in this release are forward-looking statements, which are statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “anticipate”, “expects” and similar expressions. All statements, other than statements of historical fact, included in this release, including statements regarding the proposed drilling timeline and the proposed expansion of the exploration program, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results, and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include quality and quantity of any mineral deposits that may be located, the Company’s inability to obtain any necessary permits, consents or authorizations required for its activities, the Company’s inability to raise the necessary capital to be fully able to implement its business strategies, and other risks and uncertainties disclosed in the Company’s filing statement dated February 9, 2021 and latest interim Management Discussion and Analysis filed with certain securities commissions in Canada.
The reader is cautioned that assumptions used in the preparation of any forward-looking statements herein may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect, and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law.