Press Release
October 21, 2010 11:29 ET
Kilo's 960m Step-out Drill Hole Intersects 11.45m grading 3.33g/t Gold on the Adumbi Prospect, Somituri Project, DRC
TORONTO, ONTARIO--(Oct. 21, 2010) - Kilo Goldmines Ltd. ("Kilo" or the "Company") (TSX VENTURE:KGL)(FRANKFURT:02K) is pleased to announce analytical results of diamond drill hole number 6 on the Company's Adumbi Prospect of the Somituri Project in north-eastern Democratic Republic of Congo ("DRC").
Somituri - Adumbi Prospect
Diamond drill-hole SADD0006 was collared 960 metres southeast of the previously reported (see July 11, 2010 press release) diamond drill-hole SADD0001. Drill-hole SADD0006 targeted the mapped southeast strike extension of the former gold producing colonial era Adumbi mine; the gold intersection is summarized below and illustrated on Figure 1 (http://www.kilogold.net/pr21oct2010/).
| Drill Hole SADD0006 | Azimuth 40 degrees | Length 303.55 metres | ||
| From (m) | To (m) | Interval (m) | Gold g/t | |
| 86.25 | 97.70 | 11.45 | 3.33 | |
| includes | 87.20 | 92.70 | 5.50 | 4.20 |
| and | 94.70 | 97.30 | 2.60 | 4.02 |
The gold is hosted within a chemical metasedimentary unit consisting of chert with later stage quartz veins and pyrite mineralization. The chemical metasedimentary rocks are hosted within metasedimentary shale and greywacke as well as tuffaceous metasedimentary rocks. The names of lithological units are based on field interpretations unverified with petrographic studies.
The gold intersection in diamond drill hole SADD0006 is very significant as it extends the gold mineralization nearly 1,000 metres along the mapped southeast strike extension of the gold bearing Adumbi prospect structure. Geological mapping indicates lithological and structural continuity along this southeast extension. Additional drilling is planned to confirm continuity of the gold mineralization.
The Company's Executive Chairman, Peter Hooper, stated "This very significant intersection demonstrates the gold mineralization remains open to the southeast. Moreover, geological mapping and our interpretation confirms the interval in this hole is contiguous with the area of historical exploitation and the gold bearing structure now extends over a strike length exceeding 2 km."
Diamond drill hole SADD0006 was collared 960 metres southeast of drill hole SADD0001 on a magnetic azimuth of 040 degrees and at an inclination of -50 degrees and completed to a depth of 303.55 metres. The true thickness of the gold bearing interval is estimated at approximately 75 percent of the drill hole intersection interval. A 0.63 g/t gold cut-off was used to calculate the intersection; internal dilution is not present.
About the Somituri Project
Records from the colonial era, unverified by the Company, indicate that during the 1940s until its closure in 1958 the Adumbi gold mine produced about 200,000 ounces of gold from quartz vein ore that averaged 11 g/t gold.
Five drill holes have been completed on the past producing Kitenge gold mine and three holes have been completed on the former Manzako gold mine. According to historical records, unverified by the Company, the Kitenge and Manzako mines produced about 100,000 ounces of gold prior to about 1942. In addition, one drill hole has been completed on a separate target and trenching and deep soil sampling is being carried out.
Diamond drilling is in progress with two rigs and the Company intends to complete sufficient exploration prior to year-end 2010 for a party independent of the Company to prepare an NI 43-101 compliant inferred resource calculation.
QC and Analytical Procedures
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 16,000 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.
Figure 1, illustrating Diamond Drill Hole SADD0006 on the southeast strike extension of the Adumbi mine gold bearing structure can be viewed at: http://www.kilogold.net/pr21oct2010/
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.Peter Hooper
Executive Chairman
+1-416-360-3415
[email protected]
www.kilogoldmines.com
