Press Release
May 04, 2009 13:27 ET
Kilo Goldmines Ltd. Announces Excellent Gold Geochemical Results
TORONTO, ONTARIO--(Marketwire - May 4, 2009) - Kilo Goldmines Ltd. (the "Company") (TSX VENTURE:KGL) is pleased to announce the results of gold values obtained from soil/regolith samples collected from Permis de Recherches ("PR") 8437 in the Democratic Republic of Congo ("DRC"). A preliminary interpretation of anomalous gold values in soil/regolith samples indicates the presence of a series of parallel gold anomalies, up to approximately 1.7 kilometres long, oriented southeast - northwest. These gold anomalies occur within a north northeast - south southwest trending corridor of elevated background gold values that traverses the central portion of PR8437. PR8437 is held by DRC incorporated KGL MASTERS sprl (the "Subsidiary") a 90% owned Subsidiary of the Company and it covers 101.95 square kilometres of the contiguous 3,312 square kilometres held by the Subsidiary. Within this area occurs the M2 drill target, previously referred to as the Golgotha Artisanal Gold Mine (see filing statement on www.sedar.ca filed March 4, 2009), as illustrated in Figure 1.
To view Figure 1., a map illustrating gold values in soil/regolith samples on Kilo PR8437 in the DRC, please visit the following link: http://media3.marketwire.com/docs/kgl0504.pdf
The M2 target is an artisanal working centered on a small hill, and consists of two known parallel quartz veins about 1 to 2 metres thick separated by about 15 metres of undifferentiated Precambrian Lower Kibalian paragneissic rocks that host numerous thin auriferous quartz veins and veinlets. The parallel quartz veins strike approximately 290 degrees - 110 degrees and dip about 60 degrees towards the north northeast. The M2 target workings have been explored and exploited over a strike length of about 200 metres.
The Company plans to carry out an exploration program on PR8437 commencing in Q2-2009 that includes diamond drilling of the M2 target.
The reader can view an expanded version of this press release containing details on statistical analysis, quality control procedures and a coloured map on the website of the Company at www.kilogoldmines.com. Stanley Robinson, P.Geo is the qualified person under National Instrument 43-101 who has reviewed the scientific and technical information contained in this release.
This press release contains certain forward-looking statements. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, risks related to international operations; risks related to joint venture operations; actual results of current exploration activities; changes in project parameters as plans continue to be refined, future prices of resources; possible variations in reserves, grade or recovery rates, accidents, labour disputes and other risks of the mining industry; and delays in obtaining governmental approvals or financing or in the completion of development or construction activities. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
Outstanding Shares: 39,886,766
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
For more information, please contact:
Kilo Goldmines Ltd.Peter Hooper
President
(416) 360-3415
[email protected]
www.kilogoldmines.com
