Kilo Goldmines (CVE:KGL) announced Wednesday the results of a geophysical airborne survey on the license that hosts its Adumbi-Canal gold deposit, uncovering new targets.
The Adumbi-Canal deposit forms part of the Somituri
project in the Democratic Republic of Congo (DRC), which hosts seven
other exploitation licenses.
The company said it delineated
banded iron formation over a strike length of 2 kilometres, from the
demarcated northwestern limit of the Adumbi-Canal gold deposit.
also found a linear magnetic feature over a strike length of 6
kilometres, parallel to the Kitenge prospect and Canal gold deposit.
notable highlights of the program included a linear magnetic feature
extending northwest of the Kitenge prospect, east-west trending faults -
one of which occurs through the Canal deposit - and multiple isolated
anomalies and linear magnetic anomalies.
In addition, 26 soil
samples returned values ranging from 2.04 grams per tonne (g/t) gold to
69.6 g/t gold. The soil samples were collected from a depth of one
The company has collected soil samples over three of the
seven other exploitation licenses of the Somituri project, with the
fourth now in progress. During the year, it plans to carry out soil
sampling over all of the seven other licenses.
magnetic survey has delineated new targets that may increase the overall
potential of the PE [exploitation license] and we are particularly
encouraged by the confirmation of a previously untested structure in
excess of 6 km which is south of and parallel to Adumbi-Canal and
Kitenge," said president and CEO Alex van Hoeken.
"I flew over this potential structure and witnessed significant artisanal workings over the entire length.
other targets are indicative of structural complexity namely dilation
and shearing, coupled with demagnetization; many of these are associated
with elevated gold-in-soil values."
Hoeken went on to state
that he went to each of the targets as well on the western side of the
Imbo river, and could see artisanal workings in most of the targets.
"Our team is also very encouraged by the BIF [banded iron formation] west of Adumbi," he said.
know from historical records that significant commercial scale colonial
mining activity was undertaken there and some evidence of this can
still be seen, so the survey has confirmed this as a priority target."
the company said it has recently pushed a road closely into this area
to facilitate the start of exploration activitites.
"We will be
following some of these anomalies up in the current drilling programme,
and plan to address them all in due course," Hoeken concluded.
Drilling is currently in progress on the Manzako and Kitenge prospects at the site.
magnetic survey was carried out by South Africa-based Resolution
Geophysics in April, with a total of 1,416 line kilometres surveyed,
spaced at 100 metre intervals.
Kilo is in the midst of a
systematic exploration program on the exploitation license hosting the
Adumbi-Canal deposit, including core drilling, soil sampling and
So far, around 10 per cent of the total
10,000 metres forecast for this year has been completed. Further soil
sampling and mapping will be carried out to follow up on the targets
from the geophysical program.
is a Canadian gold explorer that has over 7,000 square kilometres of
Archaean Kabalian greenstone in the Kilo-Moto area in the Democratic
Republic of the Congo.
The company owns a 75 per cent interest
in the DRC entity that holds the Somituri project exploitation permits
and a 71.25 per cent interest in the project.
It also has a joint venture with Rio Tinto (NYSE:RIO) for iron ore on licences in north-eastern DRC.
Adumbi-Canal deposit hosts an NI 43-101 compliant inferred resource of
1.61 million ounces, grading 2.04 g/t gold, with a cut off grade of 1.00
According to historical records, during the 1940s
until its closure in 1958, combined production from the Adumbi and
Adumbi North mines totalled roughly 200,000 ounces of gold.