Wednesday, 23 January 2013

Kilo Goldmines says latest results merit further drilling across Kitenge structure

Kilo Goldmines (CVE:KGL) has found further deeper gold at the Kitenge prospect in DRC, it said today.
The finds provide some of the clearest evidence to date that high grade gold values continue at depth and support the need for further drilling across the whole structure, it told investors.
"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," said president and chief executive Alex van Hoeken.
It comes after last week the firm revealed that drilling from Kitenge confirmed a continuous gold-bearing structure over a strike length of around 1,500 metres. 
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. 
Notable results from the latest drill holes in the Kitenge area include 27.08 g/t gold over an interval of 3.75m and 2.40 g/t of the yellow metal over 0.40 metres.
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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