TORONTO, ONTARIO--(Marketwire - Feb. 24, 2011) - Kilo Goldmines Ltd. ("Kilo" or the "Company") (TSX VENTURE:KGL)(FRANKFURT:02K) is pleased to announce results from diamond drill holes no. 20 and 22 on section 19755E and diamond drill holes no. 25 and 27 on section 19595E of the Company's Adumbi Prospect, Somituri Project in north-eastern Democratic Republic of Congo ("DRC").
Somituri - Adumbi Prospect Drilling
Diamond drill-holes SADD0020 and SADD0022 were collared on drill section 19755E and drill holes SADD0025 and SADD0027 were collared on drill section 19595E, to explore the horizontal and vertical continuity of gold mineralization intersected in the drill holes collared on sections 19835E and 19680E (see Nov. 23rd 2010, Jan. 5th 2011, Feb. 1st 2011 and Jun. 2nd 2010 press releases). The gold intersections are summarized by section, from east to west, below. The drill holes collared on section 19755E are illustrated in Figure 1 and the drill holes collared on section 19595E are illustrated on Figure 2.
Intersected by diamond drill holes SADD0020, SADD0022, SADD0025 and SADD0027 is 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; quartz veins occur throughout the chemical metasedimentary rocks. Quartz veining is characterized by several dominant veins with widths in excess of several metres oriented parallel or sub-parallel to the regional strike of the lithologies; one of these referenced as the 'Main Vein' occurs in close proximity to the contact with the footwall tuffaceous metasediments and greywacke and it was the subject of exploitation by colonial-era mining over a strike length of nearly 2 kilometres.
Peter Hooper, Executive Chairman of Kilo stated, "The intersections of gold bearing mineralization in all of the drill holes collared on each of these section lines is very encouraging as horizontal and vertical continuity of the gold zone is being confirmed."
Drill holes SADD0020, SADD0022, SADD0025 and SADD0027 were drilled on a magnetic azimuth of 220 degrees at an inclination of -50 degrees to depths of 109.80m, 295.70m, 126.30m and 270.70m, respectively. Drill hole SADD0020 terminated prior to reaching the footwall rocks due to technical difficulties. It is estimated that the true widths of the mineralized intervals in all of these drill holes are approximately 75 percent of the intersected widths in the drill holes.
About the Somituri Project
The Company completed 31 diamond drill holes, including 6 abandoned drill holes, for a total of 6,610.78 metres in 2010 exploring a 2.04 kilometre strike length of the Adumbi Prospect. 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 about 200,000 ounces of gold; the Adumbi gold was hosted in quartz vein ore that averaged 11 g/t gold.
In addition, five drill holes have been completed on the past producing Kitenge gold mine, three holes have been completed on the former Manzako gold mine and one drill hole has been completed on the Monde Arabe target, 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. In addition, trenching and deep soil sampling is being carried out.
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/pr24feb2011/. 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.
Upcoming Events
Kilo will be attending PDAC 2011 Conference in Toronto, Canada from March 6 to 9 (booth #2833). Kilo's management team will be available to meet with investors at both events.
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.
