CybeRelease: (OTC: KALG) JORC Report Exceeds Metric Ton Estimates
(CybeRelease, June 12, 2007) - Lake Harmony, Pa. - KAL Energy, Inc. (OTC BB:KALG) (Frankfurt:D9T.F) today published a JORC Code Compliant Resource Statement on the exploration results of the previously announced $2 million Phase 1 Exploration program on KAL Energy’s Thermal Coal Project in East Kalimantan, Indonesia. Highlights from the report include:
-- 204 Million tonnes (Mt) Inferred Resource, exceeding previous
geological estimates by 12Mt.
-- Confirmation of the coal quality being very low sulphur and low ash.
-- Primary Thick seam expressing at surface through large areas of the
-- Discovery of additional seams, yet to be quantified.
“We are delighted to report not only the upgrading our geological estimates to a JORC Code ’Inferred Resource’ status, but also the increase in the resource size. This report exceeds our expectations of the Phase 1 Exploration Program,” stated Mr. Laith Reynolds, KAL Energy’s Chairman.
“The KAL team is extremely happy with the results of the Phase 1 Program. A resource of this scale is a great base on which to build a coal production company. We are now shifting our focus from the exploration to the development of this resource,” added Mr. Andrew Caminschi, KAL Energy Executive Director.
Mr. Cameron Reynolds, KAL Energy CEO, stated, “This is a fantastic result for the company. We have delivered a JORC Resource Statement that demonstrates the conservative and accurate nature of our initial geological estimate. Furthermore, this report also demonstrates the team’s ability to deliver on time and on budget. We announced this program at the start of March, and three short months later, the team has delivered a phenomenal result in exceeding our resource target.”
The recently completed $2 million Phase I Exploration 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 results of the program are detailed in the JORC Code Compliant Resource Statement that can be obtained from the KAL Energy company website: www.kalenergyinc.com.
To read the complete release, go to http://biz.yahoo.com/iw/070612/0265066.html
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