Kilo Goldmines Ltd.
TSX VENTURE : KGL
FRANKFURT : 02K

Kilo Goldmines Ltd.

July 09, 2010 09:25 ET

Kilo Drilling Intersects 45.50 Metres Grading 3.18 g/t Gold, Part of a 151.00 Metre Zone Grading 1.61 g/t Gold on the Somituri Project, DRC

TORONTO, ONTARIO--(Marketwire - July 9, 2010) - Kilo Goldmines Ltd. ("Kilo" or the "Company") (TSX VENTURE:KGL)(FRANKFURT:02K) is pleased to announce results of the fourth diamond drill hole on the Company's Somituri Project in north-eastern Democratic Republic of Congo ("DRC").

Somituri - Adumbi Mine Drilling

Diamond drill-hole SADD0004 was collared 160 metres northwest of diamond drill-hole SADD0001 (see PR dated May 4, 2010) and 160 metres southeast of drill-hole SADD0003 (see PR dated June 2, 2010) on the past producing Adumbi gold mine and intersected the interpreted down-dip extension of the main zone quartz vein approximately 100 metres below the colonial era workings. The gold intersections in drill hole SADD0004 are summarized below and they are illustrated on Figure 1.

To view Figure 1, please visit the following link: http://media3.marketwire.com/docs/kilo_goldmines_figure_1_july_9.pdf

         
Zone From (m) To (m) Interval (m) Gold g/t
         
Foot Wall Zone 143.80 155.80 12.00 2.37
         
Main Zone 162.60 189.30 26.70 4.34
  includes 163.60 180.10 16.50 6.65
         
Combined Foot Wall and Main Zone        
         
  143.80 189.30 45.50 3.18*
* includes 6.80 metres internal dilution
         
Hanging Wall Zones 194.30 213.80 19.50 1.70
  Includes 195.40 209.20 13.80 2.02
         
  218.50 249.80 31.30 0.79
  includes 218.50 236.00 17.50 1.05
  and 237.80 249.80 12.00 0.54
         
  254.20 283.80 29.60 1.12
  includes 255.20 272.80 17.60 1.46
  includes 256.00 270.80 14.80 1.57
  288.80 294.80 6.00 0.95
         
Combined 143.80 294.80 151.00 1.61
         

The main zone quartz vein, hosting pyrite, pyrrhotite and locally arsenopyrite occurs within chemical metasedimentary rocks characterized by siliceous, magnetite and sulphide facies iron formation ("BIF"). Pyrite, pyrrhotite and locally arsenopyrite occur throughout the chemical metasedimentary rocks. Flanking the BIF unit on the southwestern side is tuffaceous metasediments or greywacke and on the northeastern side are tuffaceous metasedimentary rocks.

Diamond drill hole SADD0004 was collared 160 metres northwest of drill hole SADD0001 on a magnetic azimuth of 040 degrees and at an inclination of -50 degrees and completed to a depth of 353.50 metres. The true thicknesses of the gold bearing intervals are estimated at approximately 70 percent of the drill hole intersection intervals. A 0.30 g/t gold cut-off was used to calculate the intersections.

Drill hole SADD0005, collared 320 metres to the northwest of drill hole SADD0004, was completed to a depth of 349.70 metres. This drill hole intersected the main zone quartz vein and over 125 metres of BIF commencing from 118 metres.

Drill hole SADD0006 was collared on the mapped strike extension of the colonial era Adumbi gold mine approximately 960 metres to the southeast of drill hole SADD0001. This hole, completed to a depth of 303.33 metres, intersected mineralized BIF.

Drill hole SADD0007 was collared 160 metres southeast of drill hole SADD0001 and was abandoned at 108.3 metres. Drill hole SADD0008 collared about 2 metres from drill hole SADD0007 is currently in progress.

Drilling to date coupled with adit sampling has confirmed a gold bearing zone that varies from about 50 to more than 100 metres in true thickness over an open ended strike length of 650 metres hosting the historical Adumbi gold mine that was exploited to shallow depths during the colonial era over a strike length of 1,800 metres. Drilling in progress is focused on determining the strike extent and vertical continuity of this gold zone.

About the Somituri Project

Records from the colonial era, unverified by the Company, indicate that during the 1940s until its closure in 1958 the Adumbi gold mine produced about 200,000 ounces of gold from quartz vein ore that averaged 11 g/t gold.

Five drill holes have been completed on the past producing Kitenge gold mine and one hole has been completed on the former Manzako gold mine. According to historical records, unverified by the Company, the Kitenge and Manzako mines produced about 100,000 ounces of gold prior to about 1942. In addition, trenching and deep soil sampling is being carried out.

Diamond drilling is in progress with two rigs and the Company intends to complete sufficient exploration in the coming months for a party independent of the Company to prepare an NI 43-101 compliant inferred resource calculation before year-end 2010.

QC and Analytical Procedures

The reader is referred to PR dated May 4, 2010 for Kilo's quality control, analytical procedures and laboratory details.

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 has over 16,000 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.

Figure 1, illustrating Diamond Drill Hole SADD0004 on the Adumbi mine, as well as the Adumbi mine can be viewed at: http://www.kilogold.net/downloads/pr9jul2010.pdf

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.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Kilo Goldmines Ltd.
    Peter Hooper, Executive Chairman
    (416) 360-3415
    info@kilogoldmines.com
    Facebook: kilogoldmines.com/facebook
    kilogoldmines.com