Press Release
November 23, 2010 15:00 ET
Kilo Drilling Intersects 5.01 g/t Gold Over 21.0m on the Adumbi Prospect, Somituri, DRC
TORONTO, ONTARIO--(Nov. 23, 2010) - Kilo Goldmines Ltd. ("Kilo" or the "Company") (TSX VENTURE:KGL)(FRANKFURT:02K) is pleased to announce partial results from diamond drill hole fifteen on the Company's Somituri Project in north-eastern Democratic Republic of Congo ("DRC").
Somituri - Adumbi Prospect Drilling
Diamond drill-hole SADD0015 was collared on drill section 19835E to intersect the gold bearing structure vertically above the previously reported gold bearing zone intersected in drill hole SADD0004 on drill section 19850E (see PR dated July 11, 2010). The entire 169.70 metre long SADD0015 drill hole intersected predominantly oxidized banded iron formation and chert. Gold assays have been received for drill hole interval from 137.30 to 169.70 metres (the bottom of the hole); the gold intersections are summarized below and they are illustrated on Figure 1.
| Drill Hole SADD0015 | Azimuth 220 degrees | Length 169.70 metres | ||
| Zone | From (m) | To (m) | Interval (m) | Gold g/t |
| 0.00 | 137.30 | [assay data not received] | ||
| 140.70 | 146.10 | 5.40 | 0.61 | |
| Main Zone | 148.70 | 169.70 | 21.00 | 5.01 |
| (incomplete) | ||||
"The vertical continuity of the gold zone has been confirmed by this drill hole, and particularly encouraging are the higher grade gold values within the oxide zone. The upper holes currently being drilled will help further define the oxide zone." stated Peter Hooper, Executive Chairman.
Intersected by diamond drill hole SADD0015 is the chemical metasedimentary rocks characterized predominantly by intervals of chert and banded haematite iron formation (BIF) with lesser intervals of chert banded with black shale and several minor intervals of black shale. The drill hole terminated within the mineralized main zone that includes the main zone quartz vein. The entire drill hole intersected oxides, weathered from sulphides. Neither the tuffaceous metasediments or greywacke nor the tuffaceous metasedimentary rocks that flank the chemical metasedimentary unit on the southwestern side and the northeastern side respectively were intersected.
Diamond drill hole SADD0015 was collared 15 metres northwest of the section line on which drill hole SADD0004 was collared. Drill hole SADD0015 was drilled on a magnetic azimuth of 220 degrees and at an inclination of -50 degrees and due to technical difficulties the hole ended at 169.70 metres. The true thicknesses of the gold bearing intervals are estimated at approximately 70 percent of the drill hole intersection intervals. A 0.38 g/t gold cut-off was used to calculate the intersections; no internal dilution is present within the 21.00 metres grading 5.01 g/t gold. The 5.40 metre interval grading 0.61 g/t gold contains 2.00 metres of internal dilution.
About the Somituri Project
The company has completed 20 diamond drill holes, abandoned 6 and 2 are currently in progress; a total of 5,930 metres have been drilled on the Adumbi Prospect to date, as illustrated on Figure 2. 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 totaled about 200,000 ounces of gold; the Adumbi gold was hosted in quartz vein ore that averaged 11 g/t gold.
In addition, five drill holes have been completed on the past producing Kitenge gold mine, three holes have been completed on the former Manzako gold mine and one drill hole has been completed on the Monde Arabe target, which may be the northwest strike extension of the Kitenge gold bearing structure. 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, trenching and deep soil sampling is being carried out.
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 SADD0015 on the Adumbi prospect, and Figure 2, a map illustrating the drill holes and drill section lines on the Adumbi prospect can be viewed at: http://kilogold.net/pr23nov2010.
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
