Kilo Goldmines Ltd.: Gold Geochemistry Anomalies Delineated on
Ngazi Licence, Somituri Project, DRC
HIGHLIGHTS
- Four kilometre long gold-in-soil anomaly delineated along
margin of BIF
- Cluster of gold-in-soil values delineated and interpreted as
indicative of intersecting structures
- Preliminary interpretation concludes intersecting structures
are shear zones at a fold nose; intersections of structures result
in dilation zones favourable for gold mineralization
- The area of intersecting gold-in-soil anomalies is now a high
priority target for follow-up detailed mapping, pitting and
trenching followed by drilling
- Gold-in-soil values over the BIF analogous to gold-in-soil
values over the Adumbi Deposit
- Multiple additional anomalous gold-in-soil within BIF and
metasediments/metavolcanics were delineated
TORONTO, ONTARIO--(Marketwired - Feb 18, 2014) - Kilo Goldmines
Ltd. ("Kilo" or the "Company") (TSX-VENTURE:KGL)(FRANKFURT:02K) is
pleased to announce results and interpretation of the detailed
in-fill soil geochemical survey on the northern portion of the
Ngazi Exploitation Licence of the Somituri Project in the
Democratic Republic of Congo. Gold in soil anomalies on the Ngazi
Licence delineated by reconnaissance sampling were previously
announced (see press release dated August 13, 2012).
SOMITURI PROJECT GEOLOGY
The Ngazi licence of the Somituri project is within the Archaean
Ngayu Greenstone Belt. The licence is predominantly underlain with
Upper Kabalian metasedimentary and metavolcanic rocks, including
Banded Iron Formation ("BIF"). Granitic rock occurring within the
western limits of the licence are considered to be younger than the
orthogneiss basement, and possibly also of the Ngayu Greenstone
Belt rocks.
Gold mineralization on the Somituri Project is shear zone hosted
and occurs within all lithological units, however the thickest gold
bearing zones intersected to date are associated with sheared BIF.
Within the shear zones the gold mineralization typically has steep
plunging 'high grade shoots.' Thus, it follows that anomalous
gold-in-soil geochemical expressions can be very restricted,
particularly in flat terrain where there is minimal lateral
dispersion of the soil.
Gold values, from the Ngazi Licence, reconnaissance samples at a
grid spacing of 400 metres by 100 metres illustrates a series of
northeast trending zones in excess of five kilometres long of
elevated and anomalous gold-in-soil values as illustrated on Figure
1; a contoured version of the data is illustrated in a press
release dated August 13, 2012. The majority of the elevated and
anomalous gold values occur in samples overlying, as well as near,
the BIF contacts. Also, anomalous and elevated gold values were
obtained in close proximity to the granitic and orthogneiss
contact.
In-fill soil sampling at a grid spacing of 80 metres by 40
metres on the northern portion of the Ngazi Licence has delineated
a four kilometre long northeast trending semi-continuous
gold-in-soil anomaly, considered to be a shear zone, that occurs
parallel to and in close proximity with the southeastern contact of
the BIF as illustrated with a blue line in Figure 2. In addition, a
cluster of anomalous gold-in-soil values overly the 'bend'
(fold nose) in the BIF as illustrated by a blue ellipsoid
in Figure 2. In addition a number of other delineated gold-in-soil
anomalies are also illustrated on Figure 2. Gold values in the
Ngazi soil samples overlying the BIF are analogous to the gold
values obtained in soil samples overlying the Adumbi gold deposit
on the Imbo Licence of Kilo's Somituri Project.
Preliminary conclusions on this cluster of anomalous gold values
overlying the BIF is that it coincides with the intersection of a
northwest - southeast trending interpreted shear structure and the
northeast trending four kilometre long gold-in-soil anomaly
associated with an interpreted shear zone. The interpreted
intersection area hosts a greater frequency of high gold-in-soil
values. Shear zone intersections, coupled with fold closures are
ideal settings for gold mineralization. Dilation zones associated
with the shear zone intersections provided the channel ways for the
movement of mineralizing fluids. This is a high priority
exploration target that warrants detailed mapping, pitting
trenching and drilling.
Alex van Hoeken, President and CEO of Kilo, today stated:
"The delineation of gold geochemical anomalies, in several
intersecting orientations overlying BIF is very encouraging and
further confirms the exploration methodology of reconnaissance
followed by infill soil sampling is an effective approach. The
gold-in-soil values are similar to those obtained over the BIF that
hosts the NI43-101 compliant inferred 1.36 million ounce Adumbi
gold deposit grading 2.2 g/t Au on the Imbo Licence. The detailed
soil geochemical survey on Ngazi has delineated a high priority
exploration target that warrants evaluation. Given the success of
the in-fill sampling in the northern portion of the Ngazi licence,
the remaining gold-in-soil anomalies delineated by the
reconnaissance sampling require in-fill follow-up soil geochemical
sampling."
SOIL SAMPLING PROCEDURES
Sample collection: The soil samples were collected at a depth of
approximately 30 centimetres in flat topographic areas and from an
approximate 60 centimetre depth on hill slopes. The reconnaissance
scale sampling was carried out at 100 metre intervals on lines 400
metres apart. In-fill follow up sampling was carried out at 40
metre intervals on lines 80 metres apart. Sample sites were located
by GPS and GPS coordinates were recorded for each site.
Approximately 2 kilograms of material present at the depth sampled
was collected and placed into a plastic bag together with a
pre-numbered sample tag and the bag was stapled shut.
Determination of anomalous gold values: Statistical analysis of
the gold geochemical values obtained was carried out to determine
the anomalous gold threshold value defined as the sample population
mean plus two times the sample population standard deviation, after
applying a statistical high-cut, as summarized in Table 1. Table 1.
Statistical summary of gold geochemical surveys.
Survey type |
|
Number of Samples * |
|
High cut |
|
Number of samples cut |
|
Anomalous Gold Threshold (ppb) |
Reconnaissance |
|
2,113 |
|
59 |
|
24 |
|
28 |
Detailed (includes reconnaissance survey samples in area of
detailed sampling) |
|
4,733 |
|
184 |
|
89 |
|
84 |
Note: * Excludes quality control samples.
Quality control and analytical procedures: Sample preparation
consisted initially of sorting the samples into numerical
sequential order, followed by drying, crushing and pulverizing of
the entire sample. Preparation of the samples was carried out at
the Kilo owned, ALS Minerals managed and operated laboratory, at
the Somituri Project exploration camp. Sample pulps were couriered
to ALS Minerals full service laboratory in Johannesburg, Gauteng,
South Africa from the Democratic Republic of Congo. Gold was
determined on a 30 g charge by the Fire Assay with ICP finish
method. In addition, multi-element analysis was carried out by the
ICP method but only on the 2012 samples. ALS Minerals is accredited
to international standards.
Analytical quality control was monitored by Kilo with the
insertion of approximately 9% quality control samples consisting of
duplicates as well as commercial reference materials, blank and
standards, in every batch of samples submitted for analysis.
ABOUT THE SOMITURI PROJECT
The Somituri Project comprises eight Exploitation Licences,
covering 606 km2, valid until 2039, of the Archaean Ngayu
Greenstone belt in the northeastern Democratic Republic of
Congo.
According to historical records, which have not been verified by
Kilo, colonial-era gold mines on the Imbo Licence, namely Kitenge
and Manzako produced approximately 100 000 oz of gold to 1955,
whilst the Adumbi/Bagbaie gold mines produced approximately 200 000
oz of gold, from quartz vein ore that averaged 11 g/t gold, during
the 1950s until its closure in 1959.
Conclusions of an NI43-101 inferred resource estimate on the
2010 - 2013 drilling by Kilo of the Adumbi, Kitenge and Manzako
deposits, calculated by Roscoe Postle Associates Inc ("RPA"), is
presented in Table 2. Further details are available in a press
release dated January 30, 2014.
Table 2. Current Mineral Resource estimate for the Somituri
Project's Imbo Licence.
Mineral Resource Estimate for the Somituri Project's
Imbo Licence, December 31, 2013 |
|
|
Inferred Mineral Resources |
Deposit |
Mining Method |
Gold Cut-off Grade (g/t) |
|
Tonnes (Mt) |
|
Gold Grade (g/t) |
|
Contained Gold (Moz) |
Adumbi |
Open Pit |
0.90 |
|
19.11 |
|
2.2 |
|
1.362 |
Kitenge |
Underground |
2.70 |
|
0.91 |
|
6.6 |
|
0.191 |
Manzako |
Underground |
2.70 |
|
0.77 |
|
5.0 |
|
0.122 |
Total |
|
|
|
20.78 |
|
2.5 |
|
1.675 |
The following notes apply to tables 1 and 2IM definitions were
followed for Mineral Resources.
- Mineral Resources were estimated at a cut-off grade of 0.9 g/t
Au for Adumbi, constrained by a Whittle pit shell with a processing
and G&A cost of US$30/t. A cut-off grade of 2.7 g/t Au was used
for Kitenge and Manzako based on potential underground mining
scenarios.
- Mineral Resources were estimated using a long-term gold price
of US$1,200 per ounce.
- A minimum mining width of two metres horizontal was used.
- A maximum of four metres internal waste was used.
- Adumbi bulk densities of 1.8 for oxide, 2.2 for transition, and
3.0 for sulphide materials were used.
- Kitenge and Manzako bulk densities of 1.7 for oxide, 2.2 for
transition, and 2.7 for sulphide materials were used.
- High gold assays were capped to 18.0 g/t Au for Adumbi, 50.0
g/t Au for Kitenge, and 50.0 g/t Au for Manzako prior to
compositing at two metre intervals.
- Estimated historical mining has been removed.
- Numbers may not add due to rounding.
ABOUT KILO
Kilo is a Canadian gold exploration company, listed on the TSX
Venture Exchange under the symbol 'KGL' and on the Frankfurt
Exchange under the symbol '02K'. Kilo holds exploitation and
exploration licences covering some »2,700 km2 of iron and gold
favourable Archean Kabalian Greenstones in the northeast Democratic
Republic of the Congo.
Incorporated within this area is:
- KGL Somituri SPRL (71.25% owned by Kilo), a holder of eight
non-contiguous exploitation licences (606 km2).
- KGL Isiro SARL (100 % owned by Kilo), a holder of 12
exploration licences covering some 2,056 km2. This project has been
joint ventured with Randgold Resources since December 6, 2012,
whereby Randgold can earn 51% by completing a Pre-Feasibility Study
on a discovery. (see press release December 06, 2012).
- Kilo retains the iron rights in the KGL Isiro permits, which
were previously in joint venture with Rio Tinto, which ended in
April 2013. RPA estimates that Mt Asonga may contain between 750 to
1,500 Mt of mineralized material, grading 59% Fe to 65% Fe focused
on a 19 km2 area on Mt Asonga.(1) Furthermore, the deposit is
characterized by minimal overburden and intercepts up to 127 m with
an average overall seam thickness of 70 m. There are numerous other
targets with massive and laminated types of hematite mineralization
(see press release September 4, 2013).
- In addition, Kilo has a minority interest in the Hajigak iron
ore project in Afghanistan.
QUALIFIED PERSON
The soil geochemical surveys disclosed in this press release
were planned and supervised by Stanley Robinson, the Company's
Exploration Manager. Stanley Robinson, M.Sc., P.Geo is also the
'qualified person' (as such term is defined under National
Instrument 43-101) of the Company who has reviewed and verified the
scientific and technical information contained in this release.
DISCLAIMER
This news release may contain forward looking statements
concerning future operations of Kilo Goldmines Ltd. All forward
looking statements concerning Kilo's future plans and operations,
including management's assessment Kilo's project expectations or
beliefs may be subject to certain assumptions, risks and
uncertainties beyond Kilo'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.
To view "Figure 1. Map illustrating reconnaissance gold (ppb)
in-soil samples overlying geology, Ngazi Licence, Somituri Project,
DRC" and "Figure 2. Map illustrating gold (ppb) values in detailed
soil geochemical survey overlying geology on the northern portion
of the Ngazi Licence, Somituri Project, DRC", please visit the
following link:
http://media3.marketwire.com/docs/928056_FIGURES.pdf.
(1) Potential quantity and grade is conceptual in nature as
there has been insufficient exploration to define a mineral
resource.
Kilo Goldmines Ltd.Alex van HoekenChief Executive Officer (CEO)
& President+1 416 360
3406info@kilogoldmines.comwww.kilogoldmines.com
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