Kilo Recommences Drilling Operations on its Somituri Project, DRC
TORONTO, ONTARIO -- (Marketwired) -- 04/09/13 -- Kilo Goldmines Ltd. ("Kilo" or the "Company") (TSX VENTURE: KGL)(FRANKFURT: 02K) is pleased to announce that it has recommenced drilling operations on its Imbo licence on Saturday March 23rd.
The Company has set out a diamond drilling program for 2013 which will initially focus on the Kitenge and Manzako Prospects, as well as testing of the magnetic geophysical anomaly discovered by the 2012 airborne geophysical survey. The magnetic anomaly commences one kilometre due west of the centre of the 1.87 Moz Adumbi gold deposit, and trends northwest, parallel to the Adumbi structure, for two kilometres where it intersects the western limit of the Imbo Licence.
The Company is also resuming exploration activities on the other Somituri Project Exploitation Licences with the ultimate objective of delineating drill targets.
Alex van Hoeken, President and CEO of Kilo stated: "We are pleased that our contractor was able to achieve rapid mobilization and recommence operations only three days after the Company closed its 10 M C$ financing, and has been able to achieve production rates over 50 m per shift per drill. We look forward to receiving results during the course of the year, as the high grades we have obtained from the 2012 campaign have been highly encouraging for our current strategy of finding additional resources."
In addition, the Company is pleased to announce the following results from the 2012 drilling campaign at the Manzako Prospect. Figure 1, a geological map of the Imbo Licence, illustrates these Prospects with respect to the Adumbi gold deposit.
MANZAKO
Highlights Include
-- 7.60 m @ 3.91 g/t Au in hole #23
-- Undercuts 11.20 m @ 4.96 g/t Au in hole #4
-- Gold zone returned 31.70 m @ 4.96 g/t Au in trench #3
This result is from drill hole SMDD0023 totalling 97.40 metres ("m") which undercuts previously announced drill hole SMDD0004 that intersected 11.20 m @ 4.96 g/t Au (see press release dated January 09, 2012). Drill hole SMDD0004 undercut a 31.70 metre long trench, SMTR003, that returned 31.70 m @ 4.39 g/t Au, (see Press Release dated June 30, 2011).
These drill holes and trench targeted a parallel shear structure about 300 m northeast of the 2.2 km long Manzako main shear zone ("MSZ") structure as defined by colonial-era mining, previous trenches, soil sampling results and geological mapping. The Manzako Prospect is 5.0 km east and south from, and parallel to, the Company's 1.87 M oz Adumbi gold deposit.
Gold intersections are listed in Table 1 and the drill hole is illustrated on Figure 2.
Table 1. Gold intersections in SMDD0023, and other drill holes and trench in
same area.
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Drill Hole Az Incl From To Int. Au
(2012 hole in bold) (Mag) (m) (m) (m) (g/t)
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SMTR003 0.00 31.70 31.70 4.39
See press release dated: 220 -50
June 30, 2011
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SMDD0004 19.30 30.50 11.20 4.96
See press release dated: 220 -50
Jan 09, 2012
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38.45 41.50 3.05 2.54
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SMDD0023 56.60 58.10 1.50 1.18
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65.90 73.50 7.60 3.91
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SMDD0005 114.68 115.80 1.12 1.26
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See press release dated:
Jan 09, 2012 118.30 128.34 10.04 1.24
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True thickness estimated as 75% of core length intersections
Drill hole SMDD0023 targeted a gold bearing structure about 300 m to the northeast of the main Manzako Shear Zone ("MSZ"). Chloritized, sericitized and silicified mafic volcanic rocks, including pillowed basalts were intersected. Gold occurs within an assemblage consisting of quartz + carbonate + pyrite +/- pyrrhotite +/- arsenopyrite +/- chalcopyrite. The relationship between the gold intersection in SMDD0005 and the intersections on the section line with drill holes SMDD0004 and 23 as well as trench SKTR003 has not been verified.
The Manzako Prospect structure was mined by open pit and underground methods to shallow depths during the Colonial era and select sites are currently targeted by artisanal mining.
About the Somituri Project
The Somituri Project consists of eight Exploitation Licences totalling 606 square kilometres in the Archaen Ngayu Greenstone belt, in the north eastern Democratic Republic of Congo.
According to historical records, unverified by the Company, the Kitenge and Manzako mines produced about 100,000 ounces of gold to 1955, and Adumbi gold mine produced about 200,000 ounces of gold from quartz vein ore that averaged 11 g/t gold during the 1940s until its closure in 1959.
The Mineral Corporation (April 2012), based in Johannesburg calculated an NI 43-101 compliant inferred gold resource estimate of 1.87 million ounces grading 1.63 g/t Au using a 0.50 g/t Au cut-off on the Adumbi Prospect.
Quality Control and Analytical Procedures
The drill core was sawn in half with a diamond saw and one half core for each sample was placed into plastic bags and stapled shut. Commercial standards and blanks were inserted in every batch of samples submitted for analysis in accordance with industry practice. Sample preparation was carried out at the Kilo on-site laboratory managed by ALS Chemex. Sample pulps were shipped from the DRC to ALS Chemex in Johannesburg, South Africa by commercial courier. Gold analysis was determined on a 50 g charge by the Fire Assay with Atomic Absorption finish method. ALS Chemiex is accredited to international standards.
About Kilo
Kilo Goldmines Ltd. is a Canadian gold exploration company that is listed on the TSX Venture Exchange under the symbol 'KGL' and on the Frankfurt Exchange under the symbol '02K'. The Company holds about 3,000 square kilometres of favourable Archaean Kabalian greenstone in the Kilo-Moto area in the Democratic Republic of the Congo. Kilo's principal focus is to advance its projects from exploration through feasibility to project development and ultimately to full production in a socially and environmentally responsible manner. The Company owns a 71.25% interest in the DRC entity that holds the Somituri Project Exploitation Permits.
Qualified Person
The drilling program disclosed in this press release was planned and supervised by the Company's geological consultant Stanley Robinson. Stanley Robinson, M.Sc., P.Geo is also the 'qualified person' (as that term is defined under National Instrument 43-101) of the Company who has reviewed the scientific and technical information contained in this release.
This news release may contain forward looking statements concerning future operations of Kilo Goldmines Ltd. All forward looking statements concerning the Company's future plans and operations, including management's assessment of the Company's project expectations or beliefs may be subject to certain assumptions, risks and uncertainties beyond the Company's control. Investors are cautioned that any such statements are not guarantees of future performance and that actual performance and exploration and financial results may differ materially from any estimates or projections.
To view Figure 1, "Map illustrating the Manzako and Kitenge Prospects with respect to the Adumbi gold deposit and other Imbo Licence prospects," please visit the following link: http://media3.marketwire.com/docs/KGLimage1.pdf.
To view Figure 2, "Map illustrating Manzako diamond drill hole SMDD0023," please visit the following link: http://media3.marketwire.com/docs/KGLimage2.pdf.
To view Figure 3, "Map showing position of Adumbi West anomaly in Imbo licence," please visit the following link: http://media3.marketwire.com/docs/KGLimage3.pdf.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Kilo Goldmines Ltd.
Alex Van Hoeken
President and CEO
+1 (416) 360 3415
info@kilogoldmines.com
www.kilogoldmines.com