Kalahari options Nano project in Mexico from Northern Crown

Albert Applegath’s Kalahari Resources (VSE) recently entered into an option agreement to earn 100% of the Nano oxide copper-gold property near Alamos, Mexico, from Northern Crown Mines (VSE).

Kalahari can earn a 100% interest in the property, subject to a 25% net profits interest, by reimbursing previous exploration expenditures, issuing 200,000 shares in staged releases, and spending a minimum of US$750,000 on exploration over four years.

The Nano property covers 740 acres and is described as a new discovery of a large alteration system containing widespread oxide copper mineralization along with gold values that have potential for a bulk tonnage oxide copper-gold deposit.

An initial first-phase program of trenching is proposed to expose and sample the full extent of surface mineralization. Kalahari reports that financing of the project will be done by joint venture partners and/or private placements. Kalahari also reports that drilling is about to begin on the joint venture Parranda Manto project in Chihuahua, Mexico. This second-phase program is budgeted at US$300,000, and is under the direction of operator, Kennecott. The gold-silver-copper-lead-zinc project covers an area six miles north-south by four miles east-west. Sampling has returned encouraging values from surface mineralization which geologists from both companies believe may be an expression of leakage from high-grade material at depth.

Kalahari is currently seeking a joint venture partner for its La Currita gold-silver project in Chihuahua, Mexico, where 24 reverse circulation holes totalling 6,000 ft. have been drilled.

The better results from this drilling included 45 ft. grading 0.25 oz. gold and 7.6 oz. silver per ton (from 175-220 ft.); 80 ft. of 0.14 oz. gold and 4.6 oz. silver (from 130-210 ft.); and 25 ft. of 0.24 oz. gold and 5.21 oz. silver (from 175-200 ft.).

Kalahari is also looking at potential acquisitions in the southwestern U.S., Mexico and Africa.