Kilo Goldmines Intersects 3.09 G/T Over 33.68 Metres At Adumbi Deposit, DRC - Proactive Investor

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Kilo Goldmines Intersects 3.09 G/T Over 33.68 Metres At Adumbi Deposit, DRC 0 comments

Feb 23, 2012 9:18 AM

Kilo Goldmines (CVE:KGL) Tuesday announced additional results from the 2011 diamond drill holes on the company's 71.25 percent-owned Adumbi Gold deposit of the Somituri project in north-eastern Democratic Republic of Congo.
Among the highlights, hole SADD0049 encountered 3.09 grams per tonne (g/t) gold over 33.68 metres; hole SADD0044 discovered 3.31 g/t gold over 30.50 metres and hole SADD0039 returned 2.02 g/t gold over 27.40 metres.
The company said the drilling comprised both in-fill and along strike exploration.
The drill holes intersected steep northerly dipping sheared units of banded iron formation with inter-bedded metasedimentary rocks.
Historical mining focused on exploiting gold from a shear zone quartz vein, over a strike length of nearly two kilometres.
Kilo Goldmines president and CEO, Alex van Hoeken, said: "The results obtained so far from the drilling on the Adumbi Gold Deposit further demonstrates both along strike and vertical continuation of gold mineralization, which will, in due course, enable further modeling of the geological model for the deposit with the objective of delineating a higher grade resource."
Kilo exploration personnel have now mobilized back to the site, and a program of soil sampling and trenching has resumed on the Adumbi Gold deposit. Diamond drilling is planned to resume late in the first quarter, the company said.
A high resolution airborne magnetic and radiometric survey is planned to be carried out early in the second quarter of 2012 over the entire Adumbi Gold deposit.
The over two million ounce Adumbi Gold deposit is currently being re-interpreted with the addition of data obtained during 2011.
Management remains optimistic that this information will warrant completion of an updated NI 43-101 independent resource estimate during the current quarter.
In addition, the company has commenced soil sampling and geological mapping on another of the Somituri project exploitation licenses. It plans to explore all seven of the other exploitation permits that collectively constitute the Somituri project, with the objective of generating additional drill targets.
The 2010 exploration program on the Somituri project delineated an NI 43-101 compliant inferred resource estimate of 2.03 million ounces grading 1.37 g/t gold with a cut off of 0.50 g/t gold. The eight Somituri project exploitation licenses are valid until 2039 and they are held by KGL Somituri Sprl, owned 75 percent by Kilo.
Records from the colonial era, unverified by the company, indicate that during the 1940s until closure in 1958, combined production from the Adumbi and Bagbaie mines totaled approximately 200,000 ounces of gold.
Kilo has over 7,000 square kilometres of favourable Archaean Kabalian greenstone in the Kilo-Moto area in the Democratic Republic of the Congo.

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