Tuesday, 14 August 2012

Kilo Goldmines finds new gold-in-soil anomalies 40km west of Adumbi

Kilo Goldmines (CVE:KGL) reported Tuesday that it has found new gold-in-soil anomalies 40 kilometres west of its Adumbi prospect.

The company announced the results of a soil geochemical survey carried out for its Ngazi prospect on PE9692, one of eight exploitation licenses that makes up the Somituri project in the Democratic Republic of Congo.

Kilo said it delineated a series of parallel gold-in-soil anomalies up to 5 kilometres long, some on strike with Loncor Resources' Itali prospect.

From the results, 13 samples returned gold values greater than 100 parts per billion (ppb), the company said, including one value of 526 ppb gold, and one value of 1,110 ppb gold, or 1.11 grams per tonne (g/t).

"These results confirm that the blue sky potential of the Somituri portfolio has real substance and should provide additional upside for the company's growth  perspective," said company president and CEO, Alex van Hoeken.

"Our team is steadily progressing its exploration program as per the company's plan and we look forward to advancing these anomalies through infill soil sampling, geological mapping and trenching  to refine diamond drill targets.

"We are pleased that we can now talk about the Ngazi prospect rather than just a licence number without data."
Kilo said gold was reported by Loncor Resources in a trench and in a drill hole within 500 metres of the western property boundary along the projected strike of the gold-in-soil anomalies found.    

Indeed, Loncor reported 42.0 metres at 2.11 g/t gold in a north south oriented trench and a  diamond drill hole intersection of 38.82 metres at 2.66 g/t gold at its Itali prospect in January this year.    

Kilo's soil samples were collected from 2,119 sites, plus 30 field duplicates, on PE9692 by company geologists during February and March this year. 

PE9692 is situated 40 kilometres to the north-west of the miner's Adumbi gold prospect. 

The 2,119 soil samples returned gold values ranging from less than the 1 ppb gold detection limit to 1,110 ppb gold. Of the total, 142, or 6.7 per cent, returned a value of 23 ppb gold or higher.

Kilo is also exploring PE9691, which hosts the Adumbi-Canal gold deposit, with two diamond drill rigs, soil sampling, and geological mapping.

An airborne magnetic and radiometric survey carried out over this exploitation licence in April delineated "a number of linear magnetic anomalies", of which some are coincident with gold-in-soil values, Kilo said. 
In addition, reconnaissance soil sampling surveys have been completed over three other Permis d'Exploitation (PE). An additional two PEs are partially covered.  During 2012, plans are to complete soil sampling surveys over all of the PEs.
The Somituri project consists of eight PEs, overlying the Ngayu Greenstone Belt, in the Democratic Republic of Congo.

The 2010 and 2011 exploration programs delineated an NI 43-101 compliant inferred resource estimate of 1.87 Mozt, grading 1.63 g/t gold at a cut off of 0.50 g/t gold in the Adumbi prospect.

Historical records show, according to the company, that during the 1940s and until closure in 1958, the combined production from the Adumbi and Bagbaie mines totalled about 0.2  Mozt of gold.

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