VANCOUVER (Yosefardi) – Kalimantan Gold Corporation Limited incurred a comprehensive loss for the three months ended March 31, 2014, of $178,652, compared to profit of $25,151 in the same period of last year. The Company began the current fiscal quarter with $973,464 in cash.
Kalimantan Gold regained 100% control of its’ KSK CoW, and more importantly the company’s prospective Beruang Kanan Project (BKP).
BKP is now recognized as a new emerging copper district in central Kalimantan and BK Mine (BKM) is considered the company’s most advanced-stage exploration project.
More than 50% of the Stage 1 delineation drilling has been completed at BKM, and funds raised in 2014 will be used to finalize the stage 1 delineation drilling.
Subject to funding, it is expected the Company will announce an initial National Instrument (NI) 43-101 compliant mineral resource estimate by Q1 2015.
3D inversion modeling of airborne gravity and magnetic data is expected to assist in defining the extent of the BKP VHMS-system and, combined with recent drilling results, will help Kalimantan Gold refine and focus future drilling programs.