Project update: Kilo Announces 2.0M oz Au resource estimate for Adumbi Deposit


Kilo Goldmines Ltd. is a gold exploration and development company that is listed on the TSX Venture Exchange under the symbol 'KGL' and on the Frankfurt Exchange under the symbol '02K'. The company is actively drilling several past producing mines in the Democratic Republic of Congo (DRC). Key targets are ~200 km away from the Moto discovery (20M+ oz) and ~450km away from Banro (11M+ oz).

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Investment Highlights

  • 2.0 Million oz Au at 1.4g/t Au (0.5g/t Au cut-off) or 1.6 MMoz at 1.8g/T Au (1.0g/T Au cut-off) initial inferred mineral resource estimate for the Adumbi Deposit, Somituri Project (announced Mar. 2011)
  • Adumbi Deposit starts at surface of a hill 130m above base level (i.e. open-pittable; very low stripping ratio) and has favourable/simple CIL metallurgy
  • Experienced management team with a history of success in Africa & DRC
  • Established camp with good infrastructure
  • Strategic partnership with Rio Tinto for iron ore assets
  • Blue sky potential; large land package (+7,000 km2) of highly prospective ground in the Kibalian greenstone belt