Kilo Goldmines Ltd. (TSXV:KGL,FWB:02K) announced an NI 43-101 compliant Mineral Resource Estimate for its 71.25% interest in the Somituri Project in the Democratic Republic of the Congo consisting of the Adumbi, Kitenge and Manzako gold deposits. The Somituri Project contains an estimated Inferred Mineral Resource of 1.675 million ounces of gold (Moz) at a grade of 2.5 g/t Au.
As quoted in the press release:
- The total estimated Inferred Mineral Resource at the Somituri Project contains an estimated 1.675 million ounces of gold (Moz) (Table 1) at a grade of 2.5 g/t 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 to 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 Moz to 1.78 Moz, respectively.
- The updated 2013 Mineral Resource estimate for Adumbi is 19.11 Mt @ 2.2 g/t Au for a total of 1.362 Moz of gold.
- Maiden Inferred Mineral Resource estimates for the Kitenge and Manzako deposits are 0.191 and 0.122 Moz 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% 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 QA/QC programs, digital terrain surveys, in addition to the re-survey 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.