Kilo Goldmines Ltd. ("Kilo" or the
"Company") (TSX VENTURE:KGL)(FRANKFURT:02K) is pleased to
announce results from diamond drill hole seventeen on the Company's Somituri
Project in north-eastern Democratic Republic of Congo ("DRC").
Somituri - Adumbi Prospect Drilling
Diamond drill-hole SADD0017 was collared on drill
section 19835E to intersect the main zone gold bearing structure vertically
below the previously reported gold bearing zone intersected in drill hole
SADD0004 on drill section 19850E (see July 9, 2010 press release). Drill hole
SADD0017 was drilled on a magnetic azimuth of 220 degrees at an inclination of
-50 degrees to 379.70 metres; the gold intersections are summarized below and
they are illustrated on Figure 1.
Adumbi
Prospect Drill Section 19835E
|
|
Drill Hole
|
From
(m)
|
To
(m)
|
Interval
(m)
|
Gold
g/t
|
|
|
|
|
|
SADD0017
|
165.20
|
166.30
|
1.10
|
6.89
|
|
172.30
|
174.15
|
1.85
|
2.08
|
|
208.30
|
210.70
|
2.40
|
0.41
|
|
221.70
|
222.90
|
1.20
|
0.86
|
|
245.15
|
334.60
|
89.45
|
2.38
|
|
|
includes
|
266.70
|
304.00
|
37.30
|
4.44
|
|
|
includes
|
283.70
|
304.00
|
20.30
|
6.03
|
|
The true widths are estimated to be 78% of the core
length intervals.
|
Diamond drill hole SADD0017 intersected the
hangingwall tuffaceous metasedimentary rocks, followed down-hole by the
chemical metasedimentary rocks predominantly characterized by intervals of
chert, chert banded with magnetite iron formation (BIF), as well as minor
intervals of chert banded with black shale and several narrow intervals of
black shale; quartz veins occur throughout the chemical metasedimentary rocks.
The drill hole ended in the footwall tuffaceous metasedimentary rocks and
greywacke.
As previously reported (see December 12, 2010 press
release), and illustrated on Figure 1, diamond drill holes SADD0015 and
SADD0016, also collared on section 19835E, intersected oxidized mineralization
hosted in the sub-vertical chemical metasedimentary rocks predominantly
characterized by intervals of chert, chert banded with haematite iron formation
(BIF), as well as minor intervals of chert banded with black shale and several
narrow intervals of black shale.
"The results of drill hole SADD0017 demonstrate
excellent vertical continuation of the footwall or Main Zone gold
mineralization over a substantial width," stated Peter Hooper, Executive
Chairman of Kilo.
Summary of 2010 Exploration on the Somituri Project
Company geologists arrived at the isolated project
site in the Ituri rainforest by helicopter in late January 2010, and four weeks
later diamond drilling of the Adumbi Prospect commenced. By year- end 2010 Kilo
had completed 9,745.6 metres of diamond drilling, 592.5 metres of adit
sampling, 733.65 metres of trenching, and collected 1,233 soil samples
(includes QC samples). The drill core has been logged and sampled; assay
results for several thousand drill core, trench and soil samples are pending
and will be released as they are received.
The company explored a 2,058 metre strike length of
the Adumbi Prospect with 31 drill holes (including 6 re-drilled abandoned
holes) on 17 section lines. 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 (about 1 kilometre northwest of Adumbi)
mines totaled about 200,000 ounces of gold; the gold exploited from the Adumbi
mine was hosted in quartz vein ore that reportedly averaged 11 g/t gold.
In addition, five drill holes explored a 960 metre
strike length of the past producing Kitenge gold mine, three holes tested a
1,360 metre strike length of the former Manzako gold mine and one drill hole
targeted the Monde Arabe artisanal workings, 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.
Simultaneously with the exploration program a fully
functional exploration camp with a number of permanent brick buildings was
constructed on site during 2010. The Kilo bulldozer has built a 7 kilometre
road from the Adumbi camp to Village 47 on the Niania to Isiro road; a State
construction crew has advanced this road northerly to within 10 kilometres of
Village 47. Kilo anticipates having road access to the Adumbi camp in early
2011.
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 section 19835E on
the Adumbi prospect, as well as the Adumbi mine can be viewed at: http://www.kilogold.net/pr5jan2011/. The reader is referred to the November 23, 2010
press release for a map illustrating the drill holes and drill section lines on
the Adumbi Prospect.
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
info@kilogoldmines.com
www.kilogoldmines.com