Toronto, Ontario. � April 12, 2012 � Kilo Goldmines Ltd. ("Kilo" or the "Company") (TSX VENTURE: KGL) (FRANKFURT: 02K) is pleased to announce encouraging results from preliminary metallurgical test work carried out by Wardell Armstrong, UK, on diamond drill core from the Company�s Adumbi Gold deposit, Somituri Project, in north-eastern Democratic Republic of Congo (�DRC�).
� 94.2% gold recovery in oxide
� 96.2% gold recovery in sulphide
� 10.5 kWh/t Bond Mill Working indice for composite oxide � below expectation
� 11.3 kWh/t Bond Mill Working indice for composite sulphide � below expectation
Gold recoveries for three oxide composite samples ranged from 92.2 to 94.3% by gravity concentration followed by cyanide leach of the gravity tails. The gold recovery for one sulphide composite sample, which originated at depth from a minor lithological formation, was 42.9%, while two other composite samples returned gold recoveries of 92.5% and 96.2%. Further testing will be undertaken to optimize overall recoveries.
Commenting on these preliminary metallurgical test results, Alex van Hoeken, President and CEO of Kilo stated; �The preliminary test work is very encouraging and indicative that in excess of 90% of the gold in the oxide appears recoverable by the simple process of gravity and cyanide leaching of gravity concentration tails. Given that the recent Inferred Mineral Resource estimate concluded about 600,000 ounces of gold in oxide, most of which is contained within Adumbi Mountain and mineable by open-pit with a very low stripping ratio, the anticipated ease of gold recovery is expected to bode well for the project economics.
In addition, the gold recoveries in excess of 90% for two of the three sulphide samples are most encouraging in that the majority of the sulphide mineralization may also be amenable to gravity and cyanide leaching of gravity concentration tails, in particular when the third sulphide sample is referenced to its host lithology that represents less than 4% of the gold bearing rock types identified in the Adumbi Gold Deposit. Furthermore, the lower than expected Bond Mill Working Indices should have a favourable impact on the power and infrastructure requirements for the project.�
For the full press release go to:
http://kilogold.net/investors/pr12apr2012.php
For more information, please contact:
Alex van Hoeken
Chief Executive Officer
Tel: +1-416-360-3406
Email: info@kilogoldmines.com
Facebook: kilogoldmines.com/facebook
Twitter: twitter.com/kilogoldmines
Website: kilogoldmines.com
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.
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Kilo Goldmines Ltd.
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EXPLORATEUR |
CODE : KGL.V |
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Kilo Goldmines est une société d’exploration minière d'or basée au Canada. Ses principaux projets en exploration sont ERW, SOMITURI et MASTERS en Republique Democratique Du Congo. Kilo Goldmines est cotée au Canada. Sa capitalisation boursière aujourd'hui est 33,9 millions CA$ (27,1 millions US$, 27,4 millions €). La valeur de son action a atteint son plus haut niveau récent le 16 avril 2010 à 5,90 CA$, et son plus bas niveau récent le 30 juin 2020 à 0,01 CA$. Kilo Goldmines possède 169 700 000 actions en circulation. |