Press Release
October 13, 2011 8:45 ET
Kilo Drilling Intersects 7.71 g/t Gold Over 12.60 metres; Defines Continuity of Canal Prospect, Somituri Project, DRC
TORONTO, ONTARIO--(Marketwire - Oct. 13, 2011) - Kilo Goldmines Ltd. ("Kilo" or the "Company") (TSX VENTURE:KGL)(FRANKFURT:02K) is pleased to announce results from four diamond drill holes and four trenches on the Company's Canal Prospect, Somituri Project in north-eastern Democratic Republic of Congo ("DRC"). The Canal Prospect was previously interpreted as the southeastern strike extension of the Adumbi Gold Deposit. Further exploration indicates it is a separate structure that trends along the southwestern edge of the Adumbi Gold Deposit.
- 7.71 g/t Au over 12.6 metres
- Canal Prospect is parallel to, and within 100 metres of, the southeastern limit of the Adumbi Gold Deposit (inferred mineral resource of +2 million ounces, NI43-101 compliant)
Somituri - Canal Prospect Drilling
The gold values obtained in the 2011 diamond drill core and trench samples that targeted the Canal Prospect confirm the presence of a continuous gold bearing structure over a minimum strike length of 1,045 metres with depth continuity to at least 125 vertical metres; it remains open along strike in both directions and to depth. Gold within this structure is hosted in quartz veins within banded iron formation. The true width of the gold mineralization varies from less than a metre to about 10 metres and gold intersections to date range from 8.40m @ 0.34 g/t Au (trench) to 12.60m @ 7.71 g/t Au that includes 5.00m @ 16.80 g/t Au (drill hole).
The gold intersections obtained in the 2011 diamond drill holes and trenches are summarized below, in Table 1 and Table 2 respectively, by section line commencing with the south easternmost section.
Table 1. Diamond Drill Hole Gold intersections
| Section | Drill Hole | From (m) | To (m) | Interval (m) | Gold g/t | |||||
| 21120E | SCDD0004 | 0.00 | 1.60 | 1.60 | 0.46 | |||||
| 58.90 | 65.10 | 6.20 | 3.70 | |||||||
| 20960E | SCDD0001 | 0.00 | 0.80 | 0.80 | 1.94 | |||||
| 7.11 | 9.41 | 2.30 | 2.38 | |||||||
| 33.40 | 46.00 | 12.60 | 7.71 | |||||||
| Includes | 36.40 | 41.40 | 5.00 | 16.80 | ||||||
| SCDD0002 | 119.50 | 131.50 | 12.00 | 0.99 | ||||||
| Includes | 120.90 | 130.70 | 9.80 | 1.11 | ||||||
| 20800E | SCDD0003 | 20.25 | 21.75 | 1.50 | 2.99 | |||||
| 51.00 | 54.75 | 3.75 | 3.05 | |||||||
| 61.60 | 64.30 | 2.70 | 2.66 |
Table 2. Trench Gold intersections
| Section | Drill Hole/Trench | From (m) | To (m) | Interval (m) | Gold g/t | |||||
| 20800E | SATR019 | 13.00 | 21.40 | 8.40 | 0.34 | |||||
| 20640E | SATR017 | 40.10 | 45.00 | 4.90 | 1.52 | |||||
| 20480E | SATR016 | 13.00 | 13.60 | 0.60 | 4.35 | |||||
| 20235E | SATR018 | 9.40 | 13.10 | 3.70 | 3.03* | |||||
| 38.50 | 39.00 | 1.35 | 0.50 | |||||||
| 61.50 | 69.70 | 8.20 | 0.75 | |||||||
| 72.70 | 79.00 | 6.30 | 0.55 |
* strike continuation of the Adumbi Gold Deposit Structure - see Figure 1.
The gold intersections, geology, drill holes and trenches are illustrated on Figure 1 http://www.kilogold.net/pr13oct2011/ together with 2010 data from the Canal Prospect.
The Canal Prospect diamond drill holes intersected steep northerly dipping banded iron formation locally offset by a northeast - southwest trending fault. The Canal Prospect structure was mined to shallow depths during the Colonial era and select sites are currently targeted by artisanal mining. Soil sampling and trenching is planned to trace the extent of the Canal Prospect.
Alex van Hoeken, President and CEO of Kilo stated: "the continuity of the gold bearing structure with intersections up to 12.60m grading 7.71 g/t Au and an intersection of 6.20m grading 3.70 g/t Au in the south easternmost drill hole coupled with a drill hole intersection at a vertical depth of 125m provides encouragement that, with infill drilling, the Canal Prospect is expected to provide additional resources to compliment the +2 million, NI43-101 compliant, ounces of inferred resources hosted in the Adumbi Gold Deposit."
Diamond drill-holes SCDD0001 and SCDD0002 were collared to overcut, and undercut 2010 drill hole SADD0006 respectively; both of these holes were drilled on an azimuth of 220° whereas SADD006 was drilled on an azimuth of 040°. Drill holes SCDD0003 and 4 were 160m step-outs from SCDD0001 to the northeast and southwest respectively.
Diamond drill holes SCDD001, 2, 3 and 4 were collared on a magnetic azimuth of 220° at an inclination of -50° and drilled to depths of 87m, 193.70m, 95.00m and 92.90m respectively in 2011. The 2010 diamond drill holes SADD0006 and 11 were collared on a magnetic azimuth of 040° at an inclination of -50° and drilled to depths of 303.55m and 301.70m respectively. Trench SATR016 was sampled along a magnetic azimuth of 040° over its length of 34.50m. Trenches SATR017, 18 and 19 were sampled along a magnetic azimuth of 220° over their lengths of 62.50m, 97.40m and 48.50m respectively.
2011 Exploration
Diamond Drilling: During 2011 the Company has completed four diamond drill holes on the Kitenge Prospect, three holes on the Vatican Prospect, four holes on the Canal Prospect, two holes on the Manzako Prospect and thirteen drill holes, with one in progress and four abandoned, on the Adumbi Gold Deposit. Results for the drill results not yet announced will be forthcoming as they are received.
Trenching: The Company excavated and sampled seven trenches, the eighth is in progress, on the Manzako Prospect, four trenches on the Adumbi Prospect, four trenches on the Canal Prospect and three trenches on the Kitenge Prospect. Manzako Prospect Trench SATR003 returned an intersection of 31.70m @ 4.39 g/t Au (see Press Release dated June 30, 2011).
Soil Sampling: The Company has collected over 1,000 soil samples to date in the on-going soil geochemical survey at 20 metre intervals on lines spaced between 160m and 320m apart over selected areas of the Exploitation Licence that hosts the Adumbi Gold deposit.
About the Somituri Project
The 2010 exploration program on the Somituri Project delineated an NI43-101 compliant inferred resource estimate of 2.03 million ounces grading 1.37 g/t Au at a cut off of 0.50 g/t Au. An updated resource estimate incorporating the 2011 exploration results and interpretations is planned.
Records from the colonial era, unverified by the Company, indicate that during the 1940s until its closure in 1958 the combined production from the Adumbi and Bagbaie mines totalled approximately 200,000 ounces of gold; the Adumbi gold was hosted in quartz vein ore reported to average 11 g/t gold and the Kitenge and Manzako mines produced approximately 100,000 ounces of gold prior to about 1942.
Sampling, QC and Analytical Procedures
The diamond drill core was sawn in half and one half was sampled for analysis. Drill core samples were generally about one metre in length. Horizontal chip channel samples were collected over the length of one wall of each trench. Each sample was approximately one metre in length. The drill core and trench samples were assayed by ALS Chemex, certified to international standards, for gold using a 50g charge and the FA-AA method.
Quality control of analytical results is monitored by the Company with the insertion of commercial standards and blanks in every batch of samples submitted for analysis. For additional details the reader is referred to Kilo's previously announced (see May 4, 2010 press release) quality control and analytical procedures.
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 has over 7,000 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.
The Company is also working on a number of other prospective areas which contain historical workings in the same region. It also has a joint venture with Rio Tinto Ltd. on potential iron ore licences in north-eastern DRC.
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.
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.
For more information, please contact:
Kilo Goldmines Ltd.Alex van Hoeken
President and CEO
+1-416-360-3406
[email protected]
www.kilogoldmines.com
