Vanua Levu Explorer Lists On Toronto Venture Exchange

Another international move boosting gold exploration here. Canadian explorer Kalo Gold, which has been prospecting on Vanua Levu, has now begun trading on Toronto Stock Exchange’s Venture Exchange.

This will potentially help fund increased activity..

It comes as Kalo Gold steps up exploratory drilling on its Vatu Aurum project, where it holds two exploration licences covering over 36,700 hectares.

Its current focus is on Qiriyaga Hill and now also Coqeloa, about 30 kilometres northeast of Labasa.

Senior In-Country Manager and Director Michael Nesbitt explained how Kalo Gold’s listing in Canada allowed greater access to funding to expand exploration.

He told Fiji Sun Business: “We are undertaking a drilling programme, geophysics, geological mapping, petrographic tests, and grid auger sampling.

“The information we gain from this current programme will help us push the project forward, and set us up for a much larger follow up programme.”

Mr Nesbitt is a Canadian experienced in mining exploration management in West Africa and the Pacific.

He was one of the co-founders of what is now Kalo Gold.

Kalo Gold becomes the third Canadian stock exchange listed company operating in this country’s mining sector.

Lion One is developing its well established Tuvatu project in Sabeto, northeast of Nadi International Airport.

Emerging newcomer Thunderstruck Resources has stepped up exploring in Serua, in southern Viti Levu.

Kalo Gold has an office in Labasa.

It employs as many as 20 locals, depending on the stage of exploration, Mr Nesbitt said.

“We typically only have two to three overseas workers, including myself,” he said.

Expatriates would take up specialised positions such as geologist or geophysicist, which were not always readily locally available, he said.

“We own our own drill rig, which is entirely run by a Fijian crew.

“We also have a Fijian operations manager.

“We typically try to hire from the mataqali in the areas we are working.

“We provided a scholarship to attend the Commercial Cooking course at the Fiji National University for our camp cook, who is a mataqali member.”

Kalo Gold says the Vatu Aurum project has significant historical high-grade gold intercepts.

It is described as an attractive geology for potential large gold deposit discoveries.

According to the company, only two per cent of the prospecting area has been drilled.

Mr Nesbitt, in an interview with Metals News while in Canada last year, said: “We have two licences in Fiji.

“We have quite a large land package, 367 square kilometres under licence.

“We recently picked up a new licence and we’re seeing some similarities between the geology there and the fairly well known mine at Vatukoula.

“We think it’s a very promising area.

“I think we’re unlocking a new mineralised region in Fiji that before we came along was largely overlooked.”