Kilo Goldmines Ltd. (
TSX: V.KGL,
Stock Forum) said Thursday it has released a 43-101-compliant mineral resource estimate for its 71.2% interest in the Somituru Project in the Democratic Republic of Congo.
The Somituru Project consists of the Adumbi, Kitenge and Manzako gold deposits,
the company said in a press release.
Somituri contains an estimated 1.7 million ounces of gold at a grade of 2.5 grams gold per ton in the inferred category.
The estimate is based on an open pit scenario at Adumbi and an underground scenario at Kitenge and Manzako. Of that amount, 1.4 million ounces is contained in Adumbi.
Shares of Kilo Goldmines were unchanged Thursday at 4.5 cents, leaving a market cap of $14.4 million, based on 319.3 million shares outstanding. The 52-week range is 13 cents and 1.5 cents.