Kilo Goldmines Commences 8,900 Metre Diamond Drilling Program
(firmenpresse) - TORONTO, ONTARIO -- (Marketwired) -- 11/02/16 -- Kilo Goldmines Ltd. ("Kilo" or "KGL" or the "Company") (TSX VENTURE: KGL)(FRANKFURT: 02K) is pleased to announce the commencement of a 63 hole diamond drilling program totalling 8,900 metres on the Imbo Licence (PE9691) in the northeastern Democratic Republic of Congo ("DRC").
The program is designed to test soil geochemical and geophysical anomalies on three targets located within 4 km of the Company's Adumbi prospect (Inferred Resource of 19.11 Mt (at) 2.2 g/t Au for 1.362 Moz of gold) as shown in Figure 1.
One rig has commenced operating at the Adumbi South target and a second rig is due to commence at the Kitenge Extension target. Details of the program are as follows:
The planned drill holes have an average down-hole depth of 140 m (maximum of 167 m) and are inclined at -50 degrees. All core is being orientated to facilitate structural interpretation, and half-core sampling will be based on geological features with a maximum sample length of 1 m.
Following the drilling program, other exploration planned by the Company includes:
David Netherway, Chairman of Kilo, commented:
"We are extremely pleased to have been able to finally commence drilling following the wet season in DRC. Our geologists have identified some extremely interesting targets and we will report the results of the drilling campaign as they become available. The drilling programme is expected to take approximately six months. We will then start the BLEG programmes on our other licences."
Qualified Person
Howard Fall, B.Sc., PhD, MAusIMM, QP (Geo) is the 'qualified person' (as such term is defined under National Instrument 43-101) of Kilo and has reviewed the scientific and technical information contained in this release.
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 holds about 2,417 square kilometres of prospective Archaean Kibalian greenstone in the Kilo-Moto area in the Democratic Republic of the Congo.
Incorporated within these licences are:
KGL has retained the rights to explore for and develop iron ore resources and other minerals associated with the licences held by KGL Isiro SARL.
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, 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.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933 (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws, or an exemption from such registration is available.
To view Figures 1-4, click on the following link:
Contacts:
Philip Gibbs
Interim CEO
+1 416 360 3406
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Datum: 02.11.2016 - 19:38 Uhr
Sprache: Deutsch
News-ID 504539
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Mining & Metals
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