TORONTO, Jan. 8, 2013 (GLOBE NEWSWIRE) -- Kilo Goldmines Ltd. ("Kilo" or the "Company") (TSX VENTURE:KGL) (FRANKFURT:02K) is pleased to announce results from an additional four diamond drill holes, totalling 846.10 metres ("m"). The addition of these four drill holes, two on each section line results in a 400 m strike length being explored at 80 m intervals. The 400 m section of the north-western portion of the Kitenge prospect has now been defined by a total of 7 holes. The Kitenge Prospect now defined over a 1,419 m strike length is one of several exploration Prospects on the Company's Somituri Project in north-eastern Democratic Republic of Congo ("DRC"). Kitenge is only 4.0 km from the Company's 1.87 million ounce ("oz") Adumbi gold deposit.
Highlights Include
• 7.80 m @ 11.47 g/t Au
• 2.48 m @ 4.23 g/t Au
• 400 m strike length evaluated at 80 m intervals
• gold zone confirmed over an open-ended 1,419 m
Gold intersections obtained in the Kilo drill holes, presented from southeast to northwest, are listed in Table 1 and the drill holes are illustrated on Figure 1 (see attachment). Location of the Kitenge Prospect with respect to the Imbo licence boundaries is illustrated in Figure 2 (see attachment).
Alex van Hoeken, President and CEO of Kilo stated:
"These additional gold intersections in the Kitenge Prospect further confirm a continuous gold bearing structure hosting high grade gold values over a strike length approaching 1,500 m. The results show that in addition to the main Kitenge Shear Zone (KSZ), which is currently our key Kitenge target, there is additional mineralization situated in the hanging wall and footwall that could yield additional mineralized zones. Of particular interest is the intersection in SKDD0030 of 7.80 m @ 11.47 g/t, at a depth of 140 m and 400 m northwest of the best intersection to date of 5.80 m @ 42.24 g/t Au in SDKK0021."
|
Table 1 : DRC Somituri Project – Imbo Licence : Kitenge Prospect Drill Hole Intersections |
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| Drill Hole, Section (Sec.), Azimuth (Az.) and Inclination (Incl.) | MINERALIZATION | ||||||||||
|
Drill Hole (2012 hole in bold) |
Sec East (m) |
North (m) (local grid) |
Az (Mag) | Incl | Zone | From (m) | To (m) |
Int. (m) |
Au (g/t) |
Depth (m) |
|
|
SKDD0019* (2012) |
23849 | 60586 | 220 | -50 | KSZ | 46.19 | 48.65 | 2.46 | 2.07 | 30 | |
| includes | 46.96 | 47.65 | 0.69 | 7.07 | |||||||
| FW 1 | 107.10 | 108.20 | 1.10 | 1.12 | |||||||
|
SKDD0001 Drilled 2010 (see news release 26/01/2011) |
23845 | 60486 | 40 | -50 | FW 1 | 16.00 | 17.00 | 1.00 | 0.65 | ||
| KSZ | 30.00 | 36.00 | 6.00 | 2.46 | 24 | ||||||
| includes | 35.00 | 36.00 | 1.00 | 12.40 | |||||||
| HW 1 | 44.10 | 44.90 | 0.80 | 0.71 | |||||||
| HW 2 | 116.30 | 117.30 | 1.00 | 2.18 | |||||||
| HW 3 | 146.40 | 148.30 | 1.90 | 0.75 | |||||||
|
SKDD0031 (2012) |
23767 | 60637 | 217 | -50 | HW 2 | 76.11 | 78.27 | 2.16 | 1.02 | ||
| HW 1 | 87.35 | 89.36 | 2.01 | 0.65 | |||||||
| KSZ | 114.07 | 116.55 | 2.48 | 4.23 | 85 | ||||||
| includes | 115.96 | 116.55 | 0.59 | 17.59 | |||||||
| FW 1 | 140.48 | 141.85 | 1.37 | 0.47 | |||||||
| FW 2 | 178.46 | 183.87 | 5.41 | 0.82 | |||||||
| FW 3 | 181.70 | 183.87 | 2.17 | 1.74 | |||||||
|
SKDD0032 (2012) (undercut of SKDD0031) |
23767 | 60637 | 220 | -65 | HW2 | 106.41 | 116.17 | 9.76 | 0.67 | ||
| includes | 107.16 | 113.00 | 5.84 | 0.82 | |||||||
| HW1 | 124.91 | 132.50 | 7.59 | 1.35 | |||||||
| includes | 127.52 | 131.76 | 4.24 | 1.79 | |||||||
| KSZ | 162.00 | 166.00 | 4.00 | 2.65 | 145 | ||||||
| FW 1 | 189.62 | 190.05 | 0.43 | 5.11 | |||||||
|
SKDD0018* (2012) |
23693 | 60604 | 220 | -50 | HW 2 | 16.40 | 19.10 | 2.70 | 0.90 | ||
| HW 1 | 60.20 | 62.20 | 2.00 | 0.65 | |||||||
| KSZ | 70.85 | 74.77 | 3.92 | 13.60 | 53 | ||||||
| includes | 70.85 | 71.72 | 0.87 | 60.10 | |||||||
| FW 1 | 88.77 | 89.77 | 3.31 | 1.00 | |||||||
| FW 2 | 196.54 | 198.54 | 2.00 | 0.87 | |||||||
|
SKDD0029 (2012) |
23604 | 60623 | 220 | -50 | KSZ | 71.90 | 116.88 | 11.28 | 0.82 | 85 | |
| includes | 111.70 | 116.88 | 5.18 | 1.05 | |||||||
|
SKDD0030 (undercut of SKDD0029) |
23604 | 60397 | 220 | -65 | KSZ | 152.70 | 160.50 | 7.80 | 11.47 | 140 | |
|
SKDD0017* (2012) |
23529 | 60648 | 216 | -50 | HW 2 | 11.60 | 12.45 | 0.85 | 3.20 | ||
| HW 1 | 50.27 | 51.27 | 1.00 | 3.43 | |||||||
| KSZ | 100.15 | 105.84 | 5.69 | 1.62 | 76 | ||||||
| includes | 100.15 | 101.96 | 1.81 | 4.01 | |||||||
| and | 104.73 | 105.84 | 1.11 | 1.58 | |||||||
| FW 1 | 141.66 | 143.66 | 2.00 | 0.84 | |||||||
| FW 2 | 157.66 | 158.85 | 1.19 | 1.66 | |||||||
* previously reported (see press release dated November 01, 2012)
Intersections were calculated on un-cut gold values
True thickness estimated as 60 to 70% of core length intersections
Gold at Kitenge occurs with quartz + carbonate + pyrite ± pyrrhotite ± arsenopyrite ± chalcopyrite in a northwest-southeast oriented dominant shear zone hosting a continuous auriferous quartz vein, that dips about 80 degrees northeast, termed the Kitenge Shear Zone ("KSZ") . Preliminary interpretation concludes that the KSZ is bedding parallel to sub-parallel and hosted in highly sericitized and silicified fine grained clastic metasedimentary rocks. A series of left lateral faults has displaced KSZ from the Adumbi Shear Zone. The Adumbi Shear Zone, hosted in chemical metasedimentary rocks, is considered to be the northwest strike continuation, but fault offset, of the KSZ. In addition to the KSZ other gold bearing zones occur on the footwall and hangingwall sides of the KSZ.
About the Somituri Project
The Somituri Project consists of eight Exploitation Licences totalling 606 square kilometres in the Archaen Ngayu Greenstone belt, in the north eastern Democratic Republic of Congo.
According to historical records, unverified by the Company, the Kitenge and Manzako mines produced about 100,000 ounces of gold to 1955, and Adumbi gold mine produced about 200,000 ounces of gold from quartz vein ore that averaged 11 g/t gold during the 1940s until its closure in 1959.
The Mineral Corporation (April 2012), based in Johannesburg calculated an Ni 43-101 compliant inferred gold resource estimate of 1.87 million ounces grading 1.63 g/t Au using a 0.50 g/t Au cut-off on the Adumbi Prospect.
Quality Control and Analytical Procedures
The drill core was sawn in half with a diamond saw and one half core for each sample was placed into plastic bags and stapled shut. Commercial standards and blanks were inserted in every batch of samples submitted for analysis in accordance with industry practice. Sample preparation was carried out at the Kilo on-site laboratory managed by ALS Chemex. Sample pulps were shipped from the DRC to ALS Chemex in Johannesburg, South Africa by commercial courier. Gold analysis was determined on a 50 g charge by the Fire Assay with Atomic Absorption finish method. ALS Chemiex is accredited to international standards.
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 holds about 3,000 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.
The Kilo Goldmines logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=13161
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.
For more information, please contact:
Alex Van Hoeken
President and CEO
Tel: +1 (416) 360 3415
Email: info@kilogoldmines.com
Website: www.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.
Photos accompanying this release are available at:
http://www.globenewswire.com/newsroom/prs/?pkgid=16497
http://www.globenewswire.com/newsroom/prs/?pkgid=16498
