TORONTO, ONTARIO--(Marketwire - Feb. 21, 2012) - Kilo Goldmines Ltd. ("Kilo" or the "Company") (TSX VENTURE:KGL)(FRANKFURT:02K) is pleased to announce additional results from the 2011 Diamond drill holes on the Company's 71.25 % owned Adumbi Gold deposit of the Somituri Project in north-eastern Democratic Republic of Congo ("DRC"). This drilling comprised both in-fill and along strike exploration.
Highlights:
- SADD0044 3.31 g/t Au over 30.50 metres ("m") from 88.20 m to 118.70 m
- SADD0049: 3.09 g/t Au over 33.68 m from 62.70 m to 96.38 m
- SADD0039: 2.02 g/t Au over 27.40 m from 99.50 m to 126.90 m
- SADD0047: 15.25 g/t Au over 2.50 m from 103.00 m to 105.50 m
The gold assays obtained from this batch of drill holes are summarized in Table 1 by section line commencing with the southeastern most drill hole and ending with the northwestern most drill hole. This table can be downloaded from the following link:http://www.kilogold.net/pr21feb2012-table1/.
A plan map illustrating the drill hole collars, and section lines, is illustrated on Figure 1 at http://www.kilogold.net/pr21feb2012/.
The drill holes intersected steep northerly dipping sheared units of banded iron formation (BIF) with inter bedded metasedimentary rocks. Historical mining focused on exploiting gold from a shear zone quartz vein over a strike length of nearly 2 kilometres.
Alex van Hoeken, President and CEO of Kilo stated; "The results obtained so far from the drilling on the Adumbi Gold Deposit further demonstrates both along strike and vertical continuation of gold mineralization, which will, in due course, enable further modeling of the geological model for the deposit with the objective of delineating a higher grade resource."
All of the Diamond drill holes, comprising SADD0032 to SADD0049 were collared on a magnetic azimuth of 220� and at an inclination of -50�, with the exception of SADD0049 which was drilled with an inclination of -62�. The drill hole lengths are listed in Table 1 (http://kilogold.net/pr21feb2012-table1/).
2012 Exploration Plans
Kilo exploration personnel have mobilized back to site and a program of soil sampling and trenching has resumed on the Adumbi Gold Deposit. Diamond drilling is planned to resume in late Q1. A high resolution airborne magnetic and radiometric survey is planned to be carried out in early Q2 over the entire Adumbi Gold Deposit. The +2 million ounce Adumbi Gold Deposit, NI 43-101 compliant independent resource estimate, is currently being re-interpreted with the addition of data obtained during 2011; management remain optimistic the resource estimate will warrant completion of an updated NI 43-101 independent resource estimate during the current quarter.
In addition, the Company has commenced soil sampling and geological mapping on another of the Somituri Project Exploitation Licenses. The Company plans to explore all seven of the other Exploitation Permits that collectively constitute the Somituri Project with the objective of generating additional drill targets.
About the Somituri Project
The 2010 exploration program on the Somituri Project delineated an NI 43-101 compliant inferred resource estimate of 2.03 million ounces grading 1.37 g/t Au with a cut off of 0.50 g/t Au. The eight Somituri Project Exploitation Licenses are valid until 2039 and they are held by KGL Somituri Sprl, owned 75% by Kilo.
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 approximately 200,000 ounces of gold; the Adumbi gold was hosted in quartz vein ore reported to average 11 g/t gold and the Kitenge and Manzako mines produced approximately 100,000 ounces of gold prior to about 1942. The historical data is non NI43-101 compliant, unverified by the Company, should not be relied upon, and is presented for information purposes only.
Sampling, QC and Analytical Procedures
The Diamond drill core was sawn in half and one half was sampled, as approximate one metre long samples. The drill core was assayed by ALS Chemex, certified to international standards, for gold using a 50g charge and the FA-AA method.
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 Somituri Project.
The Company is also working on a number of other prospective areas which contain historical workings in the same region. It also has a joint venture with Rio Tinto Ltd. on potential iron ore licences in north-eastern DRC.
Qualified Person
The exploration 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 and approved the scientific and technical information contained in this release.
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.