Kilo Goldmines Ltd.: Exploration Activities Update
23 6월 2014 - 10:00PM
Marketwired Canada
Kilo Goldmines Ltd. ("KGL" or the "Company") (TSX VENTURE:KGL) (FRANKFURT:02K)
is pleased to announce an update on its exploration activities.
Since closing the recent $6 million financing on May 2nd, 2014, the Company has
recruited several geologists to reinforce its exploration efforts. The four
senior members of this exploration team have over 100 year's combined
experience, and have worked on exploration projects in western, central, and
eastern Africa that have yielded resources of over 35 million ounces Au.
The enhanced team has focused its efforts on reviewing the entire existing
database, as well as re- logging all the existing drill core. The ultimate aim
is to generate integrated geological models for the three main prospects,
utilising lithological, structural, alteration and mineralization data. The
revised models will be used for planning infill and extension drilling
programmes, as well as elevating the confidence of mineral resources from the
current inferred category to the indicated category.
The review of the Adumbi data has been completed and geological modelling is in
progress. The team is now assessing all data and core for the Manzako and
Kitenge prospects, and the programme is expected to be complete by the end of
August 2014.
The joint venture between Kilo Goldmines and Randgold Resources Limited is
proceeding as scheduled. Infill soil sampling, pitting, and trenching is being
undertaken on the various anomalies identified in the Ngayu block of licenses,
whilst first pass sampling on the Isiro block of licenses is still in progress.
Randgold is hiring some of the Company's equipment and utilizing some of its
personnel.
Alex van Hoeken, President and CEO of KGL stated: "We are pleased with the
progress of the review and are confident that its conclusion will improve the
modelling of the project. The Company remains focused on increasing asset and
shareholder value by continuing to execute work programs with these aims.".
QUALIFIED PERSON
The data review disclosed in this press release was supervised by Howard Fall.
Howard Fall, B.Sc.Ph.D., MAusIMM CP (Geo) is also the 'qualified person' (as
that term is defined under National Instrument 43-101) retained by the Company
who has reviewed the scientific and technical information contained in this
release.
ABOUT KILO
Kilo Goldmines Ltd. (KGL) is a Canadian gold exploration company, listed on the
TSX Venture Exchange under the symbol 'KGL' and on the Frankfurt Exchange under
the symbol '02K'. KGL holds exploitation and exploration licences covering
some"3000 km2 of favourable Archaen Kabalian Greenstones(the Ngayu belt) in the
northeast Democratic Republic of Congo an area historically referred to as the
Kilo-Moto region, a historic gold-producing region (11 Moz, Mineweb).
Incorporated within these licences is:
-- the Somituri Project (71.25% owned by KGL), comprising eight non-
contiguous licences (606 km2)
-- the KGL Isiro SARL Joint Venture (JV) with Randgold Resources Ltd (2056
km2), for gold and associated minerals only. The JV is managed by
Randgold and financed by it to a pre-feasibility (PFS). Upon completion
of the PFS, KGL can participate in funding or Randgold will increase its
participation to 65% by completing a Feasibility Study. Areas which may
be deemed of no interest to Randgold will be returned to KGL.
Additionally:
-- KGL has retained the rights to explore for and develop any iron ore
resources(or other minerals) associated with the licences held by KGL
Isiro SARL. These licences were in a JV with Rio Tinto who have now
withdrawn.
-- KGL has a minority interest in the Hajigak iron ore project in
Afghanistan.
DISCLAIMER
This news release may contain forward looking statements concerning future
operations of Kilo Goldmines Ltd. All forward looking statements concerning
Kilo's future plans and operations, including management's assessment KGL's
project expectations or beliefs may be subject to certain assumptions, risks and
uncertainties beyond Kilo'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.
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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Kilo Goldmines Ltd.
Alex van Hoeken
Chief Executive Officer (CEO) & President
+1 416 360 3406
info@kilogoldmines.com
www.kilogoldmines.com
KGL Resources (TSXV:KGL)
과거 데이터 주식 차트
부터 5월(5) 2024 으로 6월(6) 2024
KGL Resources (TSXV:KGL)
과거 데이터 주식 차트
부터 6월(6) 2023 으로 6월(6) 2024
KGL Resources Ltd (TSX 벤처 거래소)의 실시간 뉴스: 최근 기사 0
More Kilo Goldmines Ltd. News Articles