Press Release
October 27, 2010 13:44 ET
Kilo Drilling on the Manzako Prospect Intersects 4.70 Metres Grading 9.37 g/t Gold, Somituri Project, DRC
TORONTO, ONTARIO-- Kilo Goldmines Ltd. ("Kilo" or the "Company") (TSX VENTURE:KGL)(FRANKFURT:02K) is pleased to announce partial analytical results for diamond drill hole number 2 on the Company's Manzako Prospect of the Somituri Project in north-eastern Democratic Republic of Congo ("DRC").
Somituri - Manzako Prospect
The former colonial era Manzako mine is located approximately four kilometres to the southeast of the Adumbi prospect. Three diamond drill-holes totaling 1,015.50 metres in depth tested the 1.3km strike length of the 2.5km Manzako Prospect gold bearing structure. According to historical records, unverified by the Company, the exact dates the Manzako mine operated are not referenced but production was carried out within the late 1940's to mid 1950's. The records imply that the Manzako ore was processed with ore from other sources, hence the actual gold production is uncertain, but it appears to be in the order of 40,000 ounces. The gold intersections obtained in Kilo drill SMDD0002, which targeted the mapped northwestern portion of the Manzako gold bearing structure, are listed below and illustrated on Figure 1 (http://kilogold.net/pr27oct2010/). About 30% of the analytical results for drill hole SMDD0002 have been received.
Diamond Drill Hole: SMDD0002 Azimuth: 040 degrees Length: 316.70 metres
| From (m) | To (m) | Interval (m) | Gold g/t |
| 24.40 | 28.30 | 3.90 | 3.32 |
| 75.30 | 78.30 | 3.00 | 0.60 |
| 94.20 | 98.90 | 4.70 | 9.37 |
Commenting on the partial results for drill hole SMDD0002, Peter Hooper, Executive Chairman stated "The gold intersections indicates the Manzako Prospect has potential to enhance the Somituri Project. Additional drilling is warranted to define a resource."
Diamond drill hole SMDD0002 intersected mafic tuffs, quartz veins and tuffaceous metasediments as illustrated on Figure 1, a simplified vertical cross section. Local sections have been sheared, silicified and quartz veining is present. Gold occurs in association with pyrite hosted within quartz veins, weathered mafic tuffs, and in mafic tuffs with quartz veins. The names of the lithological units are based on field interpretations unverified with petrographic studies.
Diamond drill hole SMDD0002 was collared on a magnetic azimuth of 040 degrees at an inclination of -50 degrees and completed to a depth of 316.70 metres. The true thickness of the gold bearing interval is estimated at approximately 75 percent of the drill hole intersection interval. A 0.60 g/t gold cut-off was used to calculate the intersection.
The objective of the Manzako Prospect diamond drilling was to evaluate the potential of selected areas of the historical exploitation with a few widely spaced drill holes. A preliminary interpretation based on mapping and diamond drilling, coupled with partial analytical data confirms the presence of multiple parallel gold bearing zones over a strike length in excess of 2.5 kilometres hosted within a structure of unknown width. The Colonial era mining on Manzako focused on narrow high grade auriferous quartz veins from surface and underground; the Kilo drilling to date has confirmed the presence of multiple gold bearing zones. Additional drilling is warranted to further evaluate the gold potential of the Manzako Prospect.
Based on the analytical data received to date the Manzako gold mineralization is hosted within quartz veins as well as within silificied and sheared mafic tuffs. The Manzako Prospect geological setting differs from the Kitenge Prospect in which the gold mineralization is associated with pyrite in quartz veins hosted in highly silicified clastic metasedimentary rocks. Moreover, the Kitenge Prospect gold bearing structure is separate from, and not geologically associated with the strike extension of the past producing Adumbi gold mine. The Adumbi Prospect is hosted within quartz veins and chemical metasedimentary rocks consisting predominantly of chert plus chert with magnetite, or banded iron formation ("BIF") as previously reported (see July 11, 2010 press release).
About the Somituri Project
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.
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. A total of twenty three holes, including five abandoned holes, have been completed on the Adumbi prospect.
Diamond drilling is in progress on the Adumbi prospect with two rigs and the Company intends to complete sufficient exploration before year-end 2010 for a party independent of the Company to prepare an NI 43-101 compliant inferred resource calculation. 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 SMDD0002 on the Manzako Prospect of the Somituri Project can be viewed at: http://kilogold.net/pr27oct2010/.
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
