Kilo Goldmines Ltd.
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:
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.
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.
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:
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:
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:
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.
On October 30, 2017, The TSX Venture Exchange has consented to the extension in the expiry date of the following warrants.
Number of warrants: 12,993,386