TORONTO, June 6, 2012 (GLOBE NEWSWIRE) -- Kilo Goldmines Ltd. ("Kilo" or the "Company") (TSX VENTURE:KGL) (FRANKFURT:02K) is pleased to announce results of the geophysical airborne magnetic survey carried out over the Exploitation Licence (`PE`) that hosts the Adumbi-Canal gold deposit.
Highlights include:
- Delineation of banded iron formation ("BIF") over a strike length of 2 km, from the demarcated northwestern limit of the Adumbi-Canal gold deposit.
- Delineation of a linear magnetic feature over a strike length of 6 km parallel to the Kitenge Prospect and Canal gold deposit.
- Delineation of a linear magnetic feature extending northwest of the Kitenge prospect.
- East-West trending faults, one of which occurs through the Canal gold deposit
- Multiple isolated anomalies and multiple linear magnetic anomalies.
- 26 soil samples returned values ranging from 2.04 g/t gold to 69.60 g/t gold
- Drilling is in progress on the Manzako and Kitenge Prospects
Alex van Hoeken, President and CEO of Kilo stated: "The airborne magnetic survey has delineated new targets that may increase the overall potential of the PE and we are particularly encouraged by the confirmation of a previously untested structure in excess of 6 km which is south of and parallel to Adumbi-Canal and Kitenge. I flew over this potential structure and witnessed significant artisanal workings over the entire length. The other targets are indicative of structural complexity namely dilation and shearing, coupled with demagnetization; many of these are associated with elevated gold-in-soil values. I also went to each of the targets on the western side of the Imbo river and could see artisanal workings in most of the targets. Our team is also very encouraged by the BIF west of Adumbi. We know from historical records that significant commercial scale colonial mining activity was undertaken there and some evidence of this can still be seen, so the survey has confirmed this as a priority target. We have recently pushed a road closely into this area to facilitate commencement of exploration activities. We will be following some of these anomalies up in the current drilling programme, and plan to address them all in due course."
Figure 1, add website link, illustrates the preliminary interpretation of the geophysical survey by consultant Uwe Naeher in consultation with Company geologists, of the dominant features together with the diamond drill hole collar locations and geochemical gold values. The Company is very encouraged by the results and interpretation of the geophysical survey and the soil geochemistry, particularly the results from previously unexplored ground. The geophysical survey has identified areas of de-magnetization and such areas are considered to be related to areas of sulphidization of magnetite; sulphidization typically results in conversion of iron to pyrite, and some of the gold at Adumbi is associated with pyrite.
The Magnetic and Radiometric Survey was carried out by South Africa based New Resolution Geophysics ("NRG") during April 12th to 15th, 2012 using an Astar B-series helicopter. A total of 1,416 line-kilometres oriented at 040 – 220 degrees (magnetic) and spaced at 100 metre intervals were surveyed.
Soil Sampling
Illustrated on Figure 1 are the results of 4,590 soil samples, which results are tabulated below
| Au Detection range | Nr of samples |
| less than 200 ppb (0.200 g/t) | 4,237 |
| 200 – 999 ppb (0.200 – 0.999 g/t) | 288 |
| greater than 1000 ppb (1.00 g/t) | 65 |
| Total: | 459 |
The highest gold value obtained was 69.60 g/t Au and the second highest was 11.5 g/t Au; 24 soil samples returned values from 2.04 g/t Au to 9.12 g/t Au.
The soil samples were collected from a depth of one metre, the entire sample was pulverized and gold was determined on a 30 g pulp by fire assay ("FA") with Induced Coupled Plasma ("ICP") finish by ALS Chemex certified to ISO 9000 and 9001 standards.
In addition, soil sampling has been collected at a grid spacing of 400 metres by 100 metres over three of the seven other PEs and a fourth is in progress. During 2012, the Company plans to carry out soil sampling survey over all seven of the other PEs.
2012 Exploration
Kilo is currently undertaking systematic exploration on the PE hosting the Adumbi-Canal gold deposit including core drilling, soil sampling, and geological mapping. Approximately 10% metres of the forecast 10,000 metres for 2012 has been completed. Further soil sampling and geological mapping will be detailed to focus on those areas demarcated by the recently completed geophysical program.
Preliminary evaluation of the seven other PEs of the Somituri project is in progress with regional soil sampling and reconnaissance geology surveys.
Sample prep is currently being carried out at the on-site ALS Chemex managed Kilo owned sample prep facility.
About the Somituri Project
Exploitation Licence (`PE`) that hosts the 1.61 Million ounce Adumbi-Canal gold deposit grading 2.04 grams per tonne ("g/t") gold ("Au") with a cut-off grade of 1.00 g/t Au (NI 43-101 compliant inferred resource estimate, see PR dated March 15, 2012, which is available at www.sedar.com or on the Company's website).
Historical records are reported to indicate that during the 1940s until its closure in 1958 the combined production from the Adumbi and Bagbaie (Adumbi North) mines totalled 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 in the early 1940's.
Quality Control 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.
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 75.00% interest in the DRC entity that holds the Somituri Project Exploitation Permits and a 71.25% interest in the 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. for iron ore on licences in north-eastern DRC.
Qualified Persons
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 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.
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.
The Kilo Goldmines logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=13161
A photo accompanying this release is available at: http://www.globenewswire.com/newsroom/prs/?pkgid=13160
