- Kiboko Gold Inc. (KIB) has resumed preparations for its phase one exploration program on the Harricana Project in Québec
- A diamond drill rig has been mobilized to the project site to continue the winter portion of the 11,000-metre program
- The remaining 12 holes over 2,800 metres are expected to be done during the first quarter of 2023
- Results will go towards completing the maiden mineral resource for a portion of the Fontana area on the project
- Kiboko Gold Inc. (KIB) is down 6.67 per cent, trading at $0.14 per share as of 1:48 p.m. EST
Kiboko Gold Inc. (KIB) has resumed preparations for its phase one exploration program on the Harricana Project in Québec.
According to the company, a diamond drill rig has been mobilized to the project site to continue the winter portion of the 11,000-metre program. Of the planned 67 holes, 55 were completed last year. The final 12 holes over 2,800 metres are expected to be done during the first quarter of 2023.
A portion of the assay results from drilling in 2022 have been received. Kiboko Gold stated it is in the process of reviewing the results and expects to provide a summary shortly.
The company believes that the areas targeted for the phase one exploration program have the potential to support a near-surface, pit-constrained mineral resource estimate.
Results will go towards completing the maiden mineral resource for a portion of the Fontana area on the project in the second quarter of 2023.
The program is intended to verify a significant portion of historical Fontana area drilling, characterize gold mineralization surrounding the main vein systems, and partially validate the area’s targets.
The near-surface exploration targets for the area are said to total 13.6 million to 23.1 million tonnes at a range of grades of 3.0 to 3.4 grams of gold per tonne.
Kiboko Gold Inc. (KIB) is down 6.67 per cent, trading at $0.14 per share as of 1:48 p.m. EST.
