Press Release
Dec 21, 2009 18:17 ET
Kilo Plans Drilling in Q1-2010 on the Somituri Project Including Resource Drilling Through Q2 to Q4-2010
TORONTO, ONTARIO--(Marketwire - Dec. 21, 2009) - Kilo Goldmines Ltd. (TSX VENTURE:KGL) ("Kilo" or the "Company") plans to commence resource definition diamond drilling on the Somituri Project in Oriental Province of the Democratic Republic of Congo ("DRC") in 2010. The Company plans to commence diamond drilling in late Q1-2010 with the objective of defining a minimum resource of two million ounces of gold by year-end 2010.
The Somituri Project consists of 8 Exploitation Permits in the Ngayu greenstone belt about 175 kilometres south of Isiro. The company plans to focus on the 123 square kilometre permit that hosts the former Bagbaie-Adumbi, Kitenge, Manzako and Maipinji gold producers. Gold was exploited from Bagbaie-Adumbi, Kitenge and Manzako from alluvial and primary sources; the source of gold in the Maipinji area was alluvial. A compilation of archived records in the Royal Museum for Central Africa ("RMCA") Tervuren, Belgium, by RMCA (2007) under contract to Kilo, indicates that during the period from 1927 to 1959 approximately 291,290 ounces of gold was produced from the Bagbaie-Adumbi, Kitenge and Maipinji areas as listed below. Gold production for the Manzako area is unknown however it may be included with Kitenge. A historical resource for the Adumbi mine, made subsequent to its closure, is also presented below.
The historical resource estimate stated herein is from property reports by others, is historic in nature, has not been verified by an independent third party, is presented for information purposes only, it is not to be relied upon and it is non-compliant with NI 43-101. Moreover, work required to verify and classify the historical resource estimate in accordance with NI 43-101 has not been carried out by the Company. Furthermore, the Company does not make any representations or warranties on the accuracy of the historical resource estimate. The Company plans to commence an exploration program in Q1-2010 that will focus on obtaining data necessary to verify and classify the historical resource estimate pursuant to the provisions of NI 43-101.
HISTORIC GOLD PRODUCTION (1927 - 1959)
Mine Alluvial Gold Primary Gold Total Gold Recovered Grade
(ounces) (ounces) (ounces) grammes per tonne
Adumbi-Bagbaie 70,090 142,750 212,840 9.1
Kitenge-Maipunji 12,895 65,555 78,450 6.8
------- ------- -------
TOTALS 82,985 208,305 291,290
HISTORICAL GOLD RESOURCE ESTIMATE (after circa 1959)
Mine Probable Tonnes Grade Possible Tonnes Grade Total Gold
(oxide) g/t Gold (sulphide) g/t Gold (ounces)
Adumbi 1,000,000 9.8 2,250,000 8.5 930,000
The Adumbi mine is hosted within a hill that rises about 130 metres above the topographic lows. Historical records indicate that the Adumbi mine was exploited from approximately the topographic high to the topographic low. Diamond drilling of 3 holes by the Bureau de Recherches Geologiques et Minieres ("BRGM") in 1980-81 confirmed that the gold bearing zone has depth continuation beneath the area exploited. Historical gold exploitation, by the Belgians prior to 1959, focused on gold bearing quartz veins; the host rocks were not mined and geological maps were not made. Information on gold in the host rocks, obtained by the Company to date, is limited to underground drifts that explored the host rocks in the Kitenge deposit. The historical data indicates that significant amounts of gold occur over widths in excess of 50 metres and along strike for at least 1,000 metres. Gold values in excess of 100 g/t were exploited from quartz veins from all areas mined.
The reader is invited to review a location map of the Adumbi and area mines, a vertical as well as horizontal view of the Adumbi - Bagbaie Mines, and a level plan illustrating historical gold values in the Kitenge mine exploration drifts on the website of the Company.
The Company is currently acquiring equipment and consumables necessary to carry out the project. Camp construction will commence in January 2010. This will be followed immediately with sampling of accessible adits as well as the clearing and sampling of historical trenches over each of the previously mined areas. A minimum of 10,000 metres of diamond drilling utilizing 2 rigs is expected to commence in late Q1-2010.
The Somituri Project is held by KGL SOMITURI sprl, a company incorporated under the laws of the DRC. The Company holds a 70% interest in KGL SOMITURI sprl; other shareholders are the DRC State with a 5% interest and the vendors of the property hold the remaining 25%. The Company is required to fund 100% of the exploration expenditures. Currently the Company is sufficiently funded to carry out the planned exploration program on the Somituri Project.
The accuracy of the historical data presented herein has not been verified by the Company. The historical data and historical resources upon which this news release is based are non NI43-101 compliant. Stanley Robinson, M.Sc., P.Geo is the qualified person under National Instrument 43-101 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 Figures 1, 2 and 3, please visit the following link: http://media3.marketwire.com/docs/KILO1221.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.
For more information, please contact:
Kilo Goldmines Ltd.Peter Hooper
Executive Chairman
(416) 360-3415
[email protected]
www.kilogoldmines.com
