KAL Energy, Inc. Concludes Drilling Program, Reaffirms Timing of JORC Report
Wednesday June 6, 9:00 am ET
KAL Energy, Inc is pleased to announce that it has completed the drilling of its previously announced $2 million Phase 1 Exploration program on its Thermal Coal Project in East Kalimantan, Indonesia. This program included over 5600 meters of extensive drilling, including over 230 holes, as well as trenching, sampling and mapping of known geological structures, and exploration for unknown structures.
"The completion of the field work of Phase 1 Exploration Program represents a major achievement for KAL. We flagged this milestone to the market at start of the year -- and we have delivered on time," stated Cameron Reynolds, KAL Energy's CEO. "The team will now focus on processing and presenting the findings of the program in a JORC Compliant Resource Statement, which we expect to deliver mid June, as previously committed," Mr. Reynolds added.
The program on KAL Energy's concession in Indonesia was being conducted to determine the amount and quality of coal available, and present this in a JORC Code Compliant Resource Report. Previously disclosed Geological estimates have indicated that in excess of 192 million tons of coal with low sulfur and ash content are located at shallow depths on the concessions.
The Australasian Joint Ore Reserves Committee (JORC) is the governing body of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code). The JORC Code provides minimum standards for public reporting to ensure that investors and their advisers have all the information they would reasonably require for forming a reliable opinion on the results and estimates being reported. For more information see the JORC website at www.jorc.org
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