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KGL KGL Resources Ltd

0.16
0.00 (0.00%)
Last Updated: 01:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type
KGL Resources Ltd TSXV:KGL TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.16 0.11 0.16 0 01:00:00

Kilo Recommences Drilling Operations on its Somituri Project, DRC

09/04/2013 2:00pm

Marketwired Canada


Kilo Goldmines Ltd. ("Kilo" or the "Company") (TSX VENTURE:KGL)(FRANKFURT:02K)
is pleased to announce that it has recommenced drilling operations on its Imbo
licence on Saturday March 23rd.


The Company has set out a diamond drilling program for 2013 which will initially
focus on the Kitenge and Manzako Prospects, as well as testing of the magnetic
geophysical anomaly discovered by the 2012 airborne geophysical survey. The
magnetic anomaly commences one kilometre due west of the centre of the 1.87 Moz
Adumbi gold deposit, and trends northwest, parallel to the Adumbi structure, for
two kilometres where it intersects the western limit of the Imbo Licence. 


The Company is also resuming exploration activities on the other Somituri
Project Exploitation Licences with the ultimate objective of delineating drill
targets. 


Alex van Hoeken, President and CEO of Kilo stated: "We are pleased that our
contractor was able to achieve rapid mobilization and recommence operations only
three days after the Company closed its 10 M C$ financing, and has been able to
achieve production rates over 50 m per shift per drill. We look forward to
receiving results during the course of the year, as the high grades we have
obtained from the 2012 campaign have been highly encouraging for our current
strategy of finding additional resources." 


In addition, the Company is pleased to announce the following results from the
2012 drilling campaign at the Manzako Prospect. Figure 1, a geological map of
the Imbo Licence, illustrates these Prospects with respect to the Adumbi gold
deposit.


MANZAKO 

Highlights Include



--  7.60 m @ 3.91 g/t Au in hole #23 
--  Undercuts 11.20 m @ 4.96 g/t Au in hole #4 
--  Gold zone returned 31.70 m @ 4.96 g/t Au in trench #3 



This result is from drill hole SMDD0023 totalling 97.40 metres ("m") which
undercuts previously announced drill hole SMDD0004 that intersected 11.20 m @
4.96 g/t Au (see press release dated January 09, 2012). Drill hole SMDD0004
undercut a 31.70 metre long trench, SMTR003, that returned 31.70 m @ 4.39 g/t
Au, (see Press Release dated June 30, 2011). 


These drill holes and trench targeted a parallel shear structure about 300 m
northeast of the 2.2 km long Manzako main shear zone ("MSZ") structure as
defined by colonial-era mining, previous trenches, soil sampling results and
geological mapping. The Manzako Prospect is 5.0 km east and south from, and
parallel to, the Company's 1.87 M oz Adumbi gold deposit. 


Gold intersections are listed in Table 1 and the drill hole is illustrated on
Figure 2. 




Table 1. Gold intersections in SMDD0023, and other drill holes and trench in
 same area.                                                                 
                                                                            
----------------------------------------------------------------------------
Drill Hole                        Az    Incl    From      To    Int.      Au
(2012 hole in bold)            (Mag)             (m)     (m)     (m)   (g/t)
----------------------------------------------------------------------------
SMTR003                                         0.00   31.70   31.70    4.39
See press release dated:         220     -50                                
June 30, 2011                                                               
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
SMDD0004                                       19.30   30.50   11.20    4.96
See press release dated:         220     -50                                
Jan 09, 2012                                                                
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
                                               38.45   41.50    3.05    2.54
                                            --------------------------------
SMDD0023                                       56.60   58.10    1.50    1.18
                                            --------------------------------
                                               65.90   73.50    7.60    3.91
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
SMDD0005                                      114.68  115.80    1.12    1.26
                                            --------------------------------
See press release dated:                                                    
Jan 09, 2012                                  118.30  128.34   10.04    1.24
----------------------------------------------------------------------------
True thickness estimated as 75% of core length intersections                



Drill hole SMDD0023 targeted a gold bearing structure about 300 m to the
northeast of the main Manzako Shear Zone ("MSZ"). Chloritized, sericitized and
silicified mafic volcanic rocks, including pillowed basalts were intersected.
Gold occurs within an assemblage consisting of quartz + carbonate + pyrite +/-
pyrrhotite +/- arsenopyrite +/- chalcopyrite. The relationship between the gold
intersection in SMDD0005 and the intersections on the section line with drill
holes SMDD0004 and 23 as well as trench SKTR003 has not been verified.


The Manzako Prospect structure was mined by open pit and underground methods to
shallow depths during the Colonial era and select sites are currently targeted
by artisanal mining.


About the Somituri Project

The Somituri Project consists of eight Exploitation Licences totalling 606
square kilometres in the Archaen Ngayu Greenstone belt, in the north eastern
Democratic Republic of Congo.


According to historical records, unverified by the Company, the Kitenge and
Manzako mines produced about 100,000 ounces of gold to 1955, and Adumbi gold
mine produced about 200,000 ounces of gold from quartz vein ore that averaged 11
g/t gold during the 1940s until its closure in 1959. 


The Mineral Corporation (April 2012), based in Johannesburg calculated an NI
43-101 compliant inferred gold resource estimate of 1.87 million ounces grading
1.63 g/t Au using a 0.50 g/t Au cut-off on the Adumbi Prospect.


Quality Control and Analytical Procedures

The drill core was sawn in half with a diamond saw and one half core for each
sample was placed into plastic bags and stapled shut. Commercial standards and
blanks were inserted in every batch of samples submitted for analysis in
accordance with industry practice. Sample preparation was carried out at the
Kilo on-site laboratory managed by ALS Chemex. Sample pulps were shipped from
the DRC to ALS Chemex in Johannesburg, South Africa by commercial courier. Gold
analysis was determined on a 50 g charge by the Fire Assay with Atomic
Absorption finish method. ALS Chemiex is accredited to international standards.


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 3,000 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 71.25%
interest in the DRC entity that holds the Somituri Project Exploitation Permits.


Qualified Person

The drilling 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.

 
To view Figure 1, "Map illustrating the Manzako and Kitenge Prospects with
respect to the Adumbi gold deposit and other Imbo Licence prospects," please
visit the following link: http://media3.marketwire.com/docs/KGLimage1.pdf. 


To view Figure 2, "Map illustrating Manzako diamond drill hole SMDD0023," please
visit the following link: http://media3.marketwire.com/docs/KGLimage2.pdf. 


To view Figure 3, "Map showing position of Adumbi West anomaly in Imbo licence,"
please visit the following link:
http://media3.marketwire.com/docs/KGLimage3.pdf. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Kilo Goldmines Ltd.
Alex Van Hoeken
President and CEO
+1 (416) 360 3415
info@kilogoldmines.com
www.kilogoldmines.com

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