KGL-Masters SPRL
Overview
The properties held by KGL-Masters SPRL were a focus for the Company from 2006 through to 2010, with property visits made over this period and an NI 43-101 report developed in 2008 and later amended and approved by regulatory authorities in 2009.
Whilst promising targets were identified on the Masters properties, the Company made a decision to consolidate efforts on the most promising immediate exploration target, namely the Somituri Project and thus, the acquisition and exploration costs associated with the Masters property were written off.
This decision was made by the Company on the basis that it was and still is believed, that greater shareholder value could be unlocked from the Somituri Project over a shorter period of time.
Exploration activities on the two exploration licenses, namely PR8437 and PR2634 are summarised below.
PR8437
- Soil sampling was carried out over PR 8437 in its entirety using 100 x 400 m grid spacings;
- Whilst a a number of gold-in-soil anomalies were delineated, most were not followed up; and
- A total of 1782 m of diamond drilling was carried out over 10 holes and a strike length of 800 m to evaluate the gold potential beneath and along strike of active artisanal workings.
Whilst assay results from some of the diamond drill core indicated the presence of elevated gold values, these were not deemed of economic significance.
PR8437
- Soil sampling was carried out over PR 8437 in its entirety using 100 x 400 m grid spacings;
- Whilst a a number of gold-in-soil anomalies were delineated, most were not followed up; and
- A total of 2574 m of diamond drilling was carried out over 10 holes and strike a length of 700 m.
Core samples from the drilling programme returned gold values confirming the presence of in-situ gold over the entire strike length of the M3 target and it remained open along strike and at depth.
Related Documents
Related Press Releases
| Kilo announce mobilisation of drill rigs to Somituri Project and provides an update on Masters Projects | |||
| Kilo announce drill assay results for Masters Project | |||
| Kilo announce excellent gold geochemical results for Masters Project | |||
| Kilo announce diamond drilling will commence late may 2009 for Masters Project |