Press Release
June 30, 2011 07:35 ET
Kilo Announces 31.7m Grading 4.39 g/t Gold on the Manzako Prospect of the Somituri Project, DRC
TORONTO, ONTARIO--(Marketwire - June 30, 2011) - Kilo Goldmines Ltd. ("Kilo" or the "Company") (TSX VENTURE:KGL)(FRANKFURT:02K) is pleased to announce that 31.70 metres grading 4.39 g/t gold has been obtained in a trench on the Manzako Prospect of the Somituri Project in north-eastern Democratic Republic of Congo ("DRC"). A 13.60 metre interval in this trench returned 8.99 g/t gold; moreover, the trench has not traversed the entire mineralized zone.
The Manzako Prospect is characterized by a series of parallel gold bearing quartz veins hosted within tuffaceous metasediments and mafic volcanic tuffs over a 2.5 kilometre strike length and a width in the order of 500 metres. An initial trenching program on the Manzako Prospect consisted of six short trenches totalling 235.10 metres to evaluate six separate areas of current and/or historical gold exploitation as illustrated on Figure 1. A summary of the Manzako trenches and weighted average gold intersections is listed in Table 1.
| Table 1. | Manzako trenches and gold intersections. | |||||
| Trench | Length (m) |
Azimuth | From (m) |
To (m) |
Interval (m) |
Gold (g/t) |
| SMTR001 | 19.40 | 230 | 5.30 | 12.40 | 7.10 | 0.52 |
| SMTR002 | 57.10 | 040 | 17.80 | 18.80 | 1.00 | 0.47 |
| 56.30 | 57.10 | 0.80 | 0.44 | |||
| SMTR003 | 31.70 | 040 | 0.00 | 31.70 | 31.70* | 4.39 |
| Includes | 8.60 | 22.20 | 13.60 | 8.99 | ||
| SMTR004 | 38.10 | 040 | 21.20 | 22.30 | 1.10 | 0.43 |
| SMTR005 | 44.50 | 224 | 5.00 | 6.00 | 1.00 | 0.44 |
| 9.00 | 10.00 | 1.00 | 5.03 | |||
| SMTR006 | 44.30 | 220 | no elevated gold values | |||
| Note: * includes 1 m that was not sampled. |
Peter Hooper, Executive Chairman of Kilo, commenting on the Manzako Prospect trench results stated; "The wide gold zone delineated by trench SMTR0003 was unexpected on a prospect that to date has only returned high gold values over narrow widths, consistent with the historical data.
These new results are very encouraging and indicate that detailed exploration may discover additional wide zone(s) of high grade gold."
The initial and last sample in trench SMTR003 returned 0.43 g/t Au and 3.23 g/t Au respectively indicative that the limits of the mineralized zone have not been determined. The trench will be extended in both directions. Given that the samples were collected horizontally over the length of the trench the true width of the gold zone reported on herein is considered to be 100%. The gold bearing zone in SMTR003 is tentatively interpreted to dip steeply towards the northeast. To further evaluate this new gold discovery a diamond drill hole will be collared to the northeast of the trench and drilled southwest to undercut this gold zone. Soil sampling is currently being carried out over the entire Manzako Prospect at 20 metre intervals on lines spaced 160 metres apart and oriented normal to the lithological strike direction. The objective of the soil sampling survey is to define the distribution of gold mineralization on the Manzako Prospect and provide guidance to the continuing trenching and drilling programs.
Trench SMTR002 will be extended to the northeast as the last sample returned an elevated value of 0.44 g/t Au.
Illustrated on Figure 1, in addition to the trenches are the 2010 diamond drill holes. Drill hole SADD0001, collared to the northwest of trench SMTR003, is interpreted to have drilled beneath, or within the footwall, of the northerly dipping gold zone intersected in trench SMTR003.
The trenches were manually excavated into weathered in-situ rock. Continuous horizontal chip-channel samples were collected from one wall of the trench over the entire length of the trench. Sample lengths were 1.0 metre or less in length with the exception of the first sample which was 1.5 metres long.
About the Somituri Project
The Somituru project consists of eight Exploitation Licenses, valid until 2039, within the Ngayu Greenstone Belt, Oriental Province. The 2010 drilling on the Adumbi gold deposit delineated a gold zone with an NI43-101 compliant inferred resource estimate of 2.03 million ounces grading 1.37 g/t Au at a cut-off grade of 0.50 g/t Au (see Press Release dated March 2, 2010).
Historical exploitation on the Adumbi gold deposit was carried out from surface to the water table, or about 120 vertical metres and focused on a high-grade quartz vein situated in close proximity to the footwall limits of the 2010 delineated gold mineralization. Records from the colonial era, unverified by the Company, indicate that during the 1940s until its closure in 1958 the combined gold production from the Adumbi and Bagbaie (Adumbi North) gold mines produced about 200,000 ounces of gold from approximately 500,000 tonnes quartz vein ore that averaged 11 g/t gold.
According to historical records, unverified by the Company, the Kitenge and Manzako mines produced about 100,000 ounces of gold prior to about 1942.
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 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.
Qualified Person
The trench program, and results, disclosed in this press release were planned by Kilo geologists under the supervision of 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, is a compilation map of the portion of PE9691 explored by the Company to date: http://www.kilogold.net/pr30jun2011
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
