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Kilo Goldmines Ltd.

Company Data | Introduction | Projects in Hand | Management
News Update
| Chinese

Address :  Suite 1200 – 141 Adelaide Street West
Toronto, Ontario
Canada M5H 3L5
Tel No.: 416-360-3406
Fax No.: 416-360-3416
Web Site: www.kilogoldmines.com
E-mail: philip.gibbs@kilogoldmines.com
Contact Person: Philip Gibbs
Position: Interim CEO


Company Data

Traded Market: TSX-V
Traded Symbol: KGL
Outstanding Shares: 169,699,855
52 Week High: $ 0.135
52 Week Low: $ 0.03
Present Price: Click Here


Introduction

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Kilo Goldmines Ltd. is a Canadian gold exploration company which holds about 2,417 sq. km of prospective Archaean Kibalian greenstone in the Kilo-Moto area in the Democratic Republic of the Congo.

Incorporated within these licences is:

  • Somituri Project: The Somituri Project (71.25% owned by KGL), comprising six contiguous licences (361sq. km) held by KGL-Somituri SARL
  • Isiro JV Project: The KGL Isiro SARL Joint Venture (JV) with Randgold Resources Ltd. (2,056 sq. km), for gold and associated minerals only. The JV is managed by Randgold and financed by it to a pre-feasibility (PFS) for a 51% participation interest. Upon completion of the PFS, KGL can participate in funding or Randgold will increase its participation to 65% by completing a Feasibility Study. Areas which may be deemed of no interest to Randgold will be returned to KGL.

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.


FLAGSHIP PROJECT

Somituri Project, Democratic Republic of the Congo

The Somituri Project is Kilo Goldmines’ flagship project comprising six separate Exploitation Licenses covering an area of 360 sq. km.

Imbo Licence

In the northeast DRC, the Company has delineated a 1.67 Moz @ 2.5 g/t NI 43-101 inferred gold resource estimate on its Imbo Licence (PE9691) within the Ngayu greenstone belt, covering the Adumbi, Kitenge, and Manzako prospects, one of the six exploitation licences which form part of the greater Somituri Project. The Company is now delineating a number of other highly prospective targets within a 5 km radius of this resource, with the ultimate objective being to grow the gold resource base on this licence significantly and create a multi-pit operating mine of regional significance.

Imbo Licence Exploration Program Highlights:

  • Drilling completed at Adumbi South, Adumbi West and Kitenge targets
  • Four holes at Adumbi prospect shows extension of the higher-grade Replaced Rock (RP) Zone to 100 m below previous deepest drill intersections
  • Field work to generate targets over an area of 4 km by 1.5 km east of the Imbo River due to commence

Adumbi Prospect

Previous drilling at the Company’s Adumbi prospect (currently with an Inferred Resource of 19.11 Mt @ 2.2 g/t Au for 1.362 Moz of gold) identified a zone of relatively high grade mineralization termed the Replaced Rock (or RP) Zone.

The average true width and weighted average grade of all previous drill hole intersections in the RP Zone is 4.91 meters at 5.44 g/t Au, with the central 480 m of strike averaging 6.41 meters @ 6.25 g/t Au. The RP Zone is seen to have potential for underground exploitation, and establishing depth continuity could add significantly to the Company’s resource base. A program of four drill holes totalling 1,776 m was therefore recently completed.

Adumbi Prospect Drilling Program Results Highlights:

  • Results from four holes drilled to test the depth extensions of the Replaced Rock ("RP") Zone confirm that the Adumbi mineralization extends down dip to at least 375 m below surface (i.e. about 100 m deeper than defined by previous drilling).
  • Width of the mineralization is continuing with depth at similar grades and includes an intersection of 23.45 m @ 6.08 g/t, with visible gold observed in three of the holes.
    Significant RP Zone intersections in each hole are:
    • SADD0050: 12.69 m @ 5.51 g/t Au (Including 5.49 m @ 9.67 g/t Au)
    • SADD0051: 9.29 m @ 4.09 g/t Au
    • SADD0052: 12.15 m @ 3.24 g/t Au; 9.60 m @ 5.04 g/t Au
    • SADD0053: 9.27 m @ 3.71 g/t Au; 23.45 m @ 6.08 g/t Au
  • Further mineralogical studies and metallurgical test work is planned to assess the economic potential of the RP Zone.
  • A stream sediment (BLEG) sampling program, intended to identify and prioritize regional exploration targets on five other exploration licences (which cover 240 sq. km within the Ngayu Belt.

Other Exploration

A stream sediment (BLEG) sampling program has been completed on 5 licence areas within the Ngayu belt, with the objective of identifying and prioritizing targets for follow-up by soil sampling. A planned program of a total of 315 sampling sites on PE137, PE138, PE140, PE9692 and PE9695 has been completed and sample have been sent to an SGS laboratory in Ireland for analyses.

Exploration is also planned in the eastern part of the Imbo Licence, where stream sediment and rock chip sampling indicate an extension of the Adumbi/Kitenge/Manzako mineralized trend over a strike of about 7 km (see the Company’s press release of September 23, 2015). The program will entail soil sampling at 40 m intervals along 160 m-spaced lines, and will be accompanied by geological mapping, rock chip sampling, channel sampling and trenching/augering.

Somituri Project Highlights:

  • 1.67 Moz of Au @ 2.5 g/t Inferred Mineral Resource Estimate (NI 43-101-inferred) on the Company’s Imbo license covering the Adumbi, Kitenge, and Manzako prospects
  • Multiple new targets being delineated within a 5 km radius of Adumbi
  • New targets identified on other licences
  • Six mining licences – 340 sq. km


Management

Management and Directors

Philip Gibbs, Interim Chief Executive Officer and Chief Financial Officer

Mr. Gibbs is a Chartered Management Accountant with extensive financial management experience in large corporate environments, both in the manufacturing and retail sectors in North America and in Africa. Mr. Gibbs’s multi-disciplinary exposure includes Market Research, Logistics and IT System implementations, making him well suited to a growing business.

David Netherway, Non-Executive Chairman

Mr. Netherway is a mining engineer with over 40 years of experience in the mining industry. Mr. Netherway was involved in the construction and development of the New Liberty, Iduapriem, Siguri, Samira Hill and Kiniero mines in West Africa and has mining experience in Africa, Australia, China, Canada, India, and the Former Soviet Union.

John Welborn, Director

Mr. Welborn has extensive experience in mining, finance and investment banking, and is the CEO of Resolute Mining Limited.

Jim Mustard, Director

Mr. Mustard is a professional geologist and registered professional engineer with over 25 years of industry experience.

Loudon Owen, Director

Mr. Owen is a lawyer by training, co-founding and currently managing McLean Watson Capital, and serves on the board of directors of a number of public and private entities

Please refer to Kilo Goldmines' website www.kilogoldmines.com for complete biographies.


News Update

On October 30, 2017, The TSX Venture Exchange has consented to the extension in the expiry date of the following warrants.

Private placement

Number of warrants: 12,993,386
Original expiry date of warrants: Dec. 24, 2017
New expiry date of warrants: Dec. 24, 2018
Exercise price of warrants: 9.5 cents


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