Kilo estimates NI 43-101 inf. at Somituri of 1.67Moz Au
2014-01-30 10:29 ET - News Release
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Mr. Alex van Hoeken reports
KILO GOLDMINES LTD.: MAIDEN MINERAL RESOURCE ESTIMATES FOR THE KITENGE AND MANZAKO GOLD DEPOSITS AND UPDATED MINERAL RESOURCE ESTIMATE FOR THE ADUMBI GOLD DEPOSIT
Kilo Goldmines Ltd. has provided the results of its Canadian National Instrument (NI) 43-101 mineral resource estimate (MRE) for its 71.25-per-cent interest in the Somituri project consisting of the Adumbi, Kitenge and Manzako gold deposits.
An independent updated MRE was prepared for the Adumbi deposit, and maiden inferred mineral resources were estimated for the Kitenge and Manzako deposits by Canadian consulting firm Roscoe Postle Associates Inc. (RPA), geoscientists and engineers in London, United Kingdom, and Toronto, Canada.
Highlights
The total estimated inferred mineral resource at the Somituri project contains an estimated 1,675,000 ounces of gold (see "Mineral resource estimate for the Somituri project's Imbo licence" table) at a grade of 2.5 grams per tonne Au. The mineral resource estimates are based on an open pit scenario at Adumbi and an underground scenario at Kitenge and Manzako. Gold grades have been capped and the resources at Adumbi have been constrained by a Whittle pit.
Based on a comparison using uncapped gold grades and no Whittle constraint, the 2013 Adumbi resource estimate gold grades and contained ounces have increased compared with the 2012 estimate. At a cut-off grade of 1.0 g/t Au, these have increased from 2.0 g/t Au to 2.4 g/t Au and from 1.61 million ounces to 1.78 million ounces, respectively.
The updated 2013 mineral resource estimate for Adumbi is 19.11 million tonnes at 2.2 g/t Au for a total of 1,362,000 ounces of gold.
Maiden inferred mineral resource estimates for the Kitenge and Manzako deposits are 191,000 and 122,000 ounces respectively. The Kitenge and Manzako drill hole spacing is currently too wide to determine high-grade plunge direction(s), hence the high-grade shoots could not be modelled separately and the gold grade was capped universally at 50 g/t Au.
There is excellent potential to expand the inferred mineral resources with more drilling. Greater than 50 per cent of the mineralized blocks at Kitenge and Manzako were not classified as mineral resources in areas of wide-spaced drilling. Additional drilling could determine if part of the resource at either deposit could be potentially be mined with a starter open pit.
Gold mineralization at Adumbi, Kitenge and Manzako remains open along strike and at depth.
RPA has recommended infill drilling, increased quality assurance/quality control programs, digital terrain surveys, in addition to the resurvey of drill collars and historical workings on the Adumbi deposit in order to potentially increase the resource size and upgrade mineral resources from inferred to indicated status.
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