New Targets Discovered in Geophysical Survey and Soil Sampling Update
06 6월 2012 - 8:15PM
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 photos accompanying this release is available at:
http://www.globenewswire.com/newsroom/prs/?pkgid=13160
CONTACT: Alex van Hoeken
Chief Executive Officer
Tel: +1-416-360-3406
Email: info@kilogoldmines.com
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