TORONTO, ONTARIO--(Marketwired - July 17, 2017) - Kilo Goldmines Ltd. ("Kilo" or "KGL" or the "Company") (TSX
VENTURE:KGL)(FRANKFURT:02K) is pleased to provide the results of its completed drill programme
to test the down dip extension at the Adumbi Prospect, as well as an update on regional exploration activities on its Imbo
Licence (PE9691) falling within the Ngayu greenstone belt in the north-eastern Democratic Republic of Congo ("DRC").
Highlights
| • |
Results from four holes drilled to test the depth extensions of the Replaced Rock ("RP") Zone
confirm that the Adumbi mineralization extends down dip to at least 375 m below surface (i.e. about 100 m deeper than
defined by previous drilling). |
| |
|
| • |
Width of the mineralization is continuing with depth at similar grades and includes an
intersection of 23.45 m @ 6.08 g/t, with visible gold observed in three of the holes. |
| |
|
| |
Significant RP Zone intersections in each hole are: |
| |
|
| |
• SADD0050: 434.73 - 447.42 m = 12.69 m @ 5.51 g/t Au (Including 5.49 m @ 9.67
g/t Au) |
| |
• SADD0051: 393.43 - 402.72 m = 9.29 m @ 4.09 g/t Au |
| |
• SADD0052: 389.72 - 401.87 m = 12.15 m @ 3.24 g/t Au |
| |
|
419.15 - 428.75 m = 9.60 m @ 5.04 g/t Au |
| |
• SADD0053: 346.36 - 355.63 m = 9.27 m @ 3.71 g/t Au |
| |
|
391.72 - 415.17 m = 23.45 m @ 6.08 g/t |
| |
|
|
| • |
Further mineralogical studies and metallurgical test work is planned to assess the economic
potential of the RP Zone. |
| |
|
| • |
The stream sediment (BLEG) sampling programme, intended to identify and prioritise regional
exploration targets on five other exploration licences (which cover 240 km² within the Ngayu Belt), is nearing
completion. |
Drilling - Adumbi Prospect
Previous drilling at the Company's Adumbi prospect (currently with an Inferred Resource of 19.11 Mt @ 2.2 g/t Au for 1.362 Moz
of gold) identified a zone of relatively high grade mineralization termed the Replaced Rock (or RP) Zone. The RP Zone is
associated with intense alteration and structural deformation that has completely destroyed the primary lithological
characteristics of the host rock, and was initially traced along strike for 840 m and down dip to 275 m below surface (Figure
1).
The average true width and weighted average grade of all previous drill hole intersections in the RP Zone is 4.91 meters at
5.44 g/t Au, with the central 480 m of strike averaging 6.41 meters @ 6.25 g/t Au. The RP Zone is seen to have potential for
underground exploitation, and establishing depth continuity could add significantly to the Company's resource base. A
program of four drill holes totalling 1,776 m was therefore recently completed, with the objective of testing the down-plunge
extensions of relatively high grade shoots within the RP Zone, at depths approximately 100 m vertically below the previous
deepest intersections (Figures 2 and 3).
The RP Zone was intersected in all four of the new drill holes (SADD0050, SADD0051, SADD0052 and SADD0053, Figures 4 - 7) and
comprises Banded Iron Formation (BIF) which has been intensely silicified and sulphidised. Pyrite, pyrrhotite and
arsenopyrite occur in varying proportions, and comprise up to 40% of the rock. There is a general, positive, correlation
between the amount of sulphides and gold grade, with arsenopyrite frequently associated with higher grade gold
values. Visible gold was locally observed in the RP Zone in three drill holes. Less intensely altered rock occurs
outside the RP Zones, and also locally carries significant gold grades. Analytical results for the RP and other significant
intersections are summarised in Table 1, and completes the results for all drilling to date.
The results show that the RP Zone extends down dip to at least 375 m below surface (i.e. about 100 m deeper than defined by
previous drilling) and that the width and grade of the mineralization is continuing with depth. The data also supports the
interpretation that the higher-grade shoots within the RP Zone dip steeply to the NW at about 80°. In order to further
assess the economic potential of the RP zone, mineralogical studies to determine gold deportment are planned, followed by
metallurgical test work.
| Table 1. |
| BHID |
From
(m) |
To
(m) |
Downhole
Width (m) |
True Width
(m) |
Grade
(Au g/t) |
Comments |
| SADD0050 |
339.00 |
340.00 |
1.00 |
0.78 |
1.23 |
|
| 355.00 |
356.00 |
1.00 |
0.79 |
1.82 |
|
| 395.43 |
396.04 |
0.61 |
0.50 |
4.80 |
|
| 402.90 |
403.40 |
0.50 |
0.40 |
9.03 |
|
| 405.40 |
408.30 |
2.90 |
2.35 |
0.80 |
|
| 409.95 |
415.80 |
5.85 |
4.77 |
1.77 |
RP Zone |
| 419.86 |
424.45 |
4.59 |
3.75 |
1.06 |
RP Zone |
| 434.73 |
447.42 |
12.69 |
10.48 |
5.51 |
RP Zone |
Includes:
435.36 |
440.85 |
5.49 |
4.53 |
9.67 |
|
| SADD0051 |
90.60 |
92.08 |
1.48 |
0.66 |
23.80 |
|
Includes:
91.60 |
92.08 |
0.48 |
0.21 |
54.60 |
|
| 301.31 |
304.00 |
2.69 |
1.78 |
1.17 |
|
| 312.00 |
317.00 |
5.00 |
3.34 |
1.44 |
|
| 321.05 |
325.00 |
3.95 |
2.64 |
2.41 |
|
| 328.80 |
334.30 |
5.50 |
3.70 |
1.62 |
|
| 339.55 |
355.48 |
15.93 |
10.82 |
1.30 |
RP Zone |
| 378.43 |
379.43 |
1.00 |
0.69 |
13.00 |
|
| 393.43 |
402.72 |
9.29 |
6.48 |
4.09 |
RP Zone |
| SADD0052 |
74.90 |
75.90 |
1.00 |
0.50 |
2.10 |
|
| 303.55 |
308.55 |
5.00 |
3.29 |
1.11 |
|
| 350.70 |
352.15 |
1.45 |
1.00 |
3.82 |
|
| 375.00 |
379.45 |
4.45 |
3.08 |
3.53 |
|
| 389.72 |
401.87 |
12.15 |
8.42 |
3.24 |
RP Zone |
| 402.57 |
406.00 |
3.43 |
2.42 |
0.59 |
|
| 407.00 |
411.00 |
4.00 |
2.84 |
2.05 |
RP Zone |
| 419.15 |
428.75 |
9.60 |
6.88 |
5.04 |
RP Zone |
| SADD0053 |
239.30 |
259.32 |
20.02 |
13.65 |
1.95 |
|
Includes:
239.30 |
247.78 |
8.48 |
5.78 |
3.26 |
|
| 262.32 |
266.75 |
4.43 |
3.02 |
1.29 |
|
| 292.23 |
293.18 |
0.95 |
0.47 |
63.90 |
|
| 312.60 |
319.00 |
6.40 |
3.25 |
0.63 |
|
| 321.00 |
339.65 |
18.65 |
9.59 |
1.88 |
|
Includes:
333.68 |
339.62 |
5.94 |
3.05 |
3.04 |
|
| 341.28 |
342.00 |
0.72 |
0.37 |
3.00 |
|
| 346.36 |
355.63 |
9.27 |
4.83 |
3.71 |
RP Zone |
| 367.36 |
374.30 |
6.94 |
3.68 |
2.43 |
RP Zone |
| 376.07 |
380.56 |
4.49 |
2.42 |
1.32 |
|
| 383.11 |
386.42 |
3.31 |
1.80 |
0.85 |
|
| 391.72 |
415.17 |
23.45 |
12.99 |
6.08 |
RP Zone from 400.95 - 415.17 m |
Other Exploration
A stream sediment (BLEG) sampling programme is underway on 5 licence areas within the Ngayu belt, with the objective of
identifying and prioritising targets for follow-up by soil sampling. A planned programme of a total of 315 sampling
sites on PE137, PE138, PE140, PE9692 and PE9695 (Figure 8) has been completed and sample preparation is underway prior to
submission to an SGS laboratory in Ireland for analyses.
Exploration is also planned in the eastern part of the Imbo Licence, where stream sediment and rock chip sampling indicate an
extension of the Adumbi/Kitenge/Manzako mineralized trend over a strike of about 7 km (see the Company's press release of
September 23, 2015). The programme will entail soil sampling at 40 m intervals along 160 m-spaced lines, and will be
accompanied by geological mapping, rock chip sampling, channel sampling and trenching/augering.
Qualified Person
Howard Fall, B.Sc., PhD, MAusIMM, QP (Geo) is the 'Qualified Person' (as such term is defined under National Instrument
43-101) of Kilo and has reviewed the scientific and technical information contained in this release.
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 2,417 km² of prospective Archaean Kibalian
greenstone in the Kilo-Moto area in the Democratic Republic of the Congo.
Incorporated within these licences is:
| |
- the Somituri project (71.25% owned by KGL), comprising six contiguous licences (361km²) held by
KGL-Somituri SARL |
| |
|
| |
- the KGL Isiro SARL Joint Venture (JV) with Randgold Resources Ltd (2,056 km²), for gold and associated
minerals only. The JV is managed by Randgold and financed by it to a pre-feasibility (PFS) for a 51% participation
interest. 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. |
KGL has retained the rights to explore for and develop iron ore resources and other minerals associated with the licences held
by KGL Isiro SARL.
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, 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.
To view Figures 1-8, please visit the following link: http://file.marketwire.com/release/1099204-Figures1-8.pdf