Wednesday, 23 January 2013

Kilo Goldmines says latest Kitenge drilling shows high grades continue with depth

Kilo Goldmines (CVE:KGL) unveiled Wednesday results from the Kitenge prospect at its Somituri project in the Democratic Republic of Congo, saying they provide some of the clearest evidence yet of the continuity of high grade gold values with depth. 
Of the notable results, the company hit 3.75 metres grading 27.08 grams per tonne (g/t) gold in hole 35, with a depth below surface of only 125 metres, meaning drilling can stand to be much deeper. The intersection was 60 metres vertically below prior hole 21 that was announced in November, which returned 5.8 metres at 42.24 g/t gold. 
Kilo said the Kitenge prospect is now defined over a 1500 metre strike length. Kitenge is one of several exploration areas on the company's Somituri project and is just 4km from Kilo's 1.87 million ounce Adumbi gold deposit. 
So far, 11 diamond drill holes make up the 700-metre high grade zone within the 1,500 metre long Kitenge structure, defined to shallow depths of around 65 metres. The two deepest intercepts are 125 and 145 metres vertically below surface. 
The junior gold explorer said the structure remains open on strike and at depth, adding that Kitenge is thought to show many of the characteristics of mesothermal gold deposits, where zones of high grade mineralization occur as defined "shoots" within a major structure and can exceed depths of 2 kilometres below surface. 
"These additional deeper gold intersections at Kitenge, provide some of the clearest evidence yet of the continuity of high grade gold values with depth.  These deeper, higher grade results support the need for additional drilling over the entire Kitenge structure," said president and CEO, Alex van Hoeken.
"We now have additional confidence that, not only is the structure open on strike, but the width and gold tenor is likely to increase with depth.  
"Kitenge is rapidly shaping up to be one the better prospects identified on the underexplored Imbo Licence and additional drilling is planned to delineate the extent of the high grade zone, possibly steeply plunging gold shoots that occur within the Kitenge main shear zone."
The company said that more drill results are expected from the high grade zone. 
Kilo owns a 71.25% interest in the Somituri project and  holds mineral rights on eight non-contiguous exploitation licences valid until 2039 covering 606 sq km, which includes the Imbo licence, which is 122 sq km.

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