I've had fairly good results doing exactly this. There was a bit of extra work involved though. Try setting the Filter knob somewhere around 40-60hz, and that should be mostly kick drum. However, there's more low end energy in snare hits than people often expect, so you'll likely end up with some snare hits detected too. So go through the track and click on the orange markers to turn off any stray snare hits.
It's a bit laborious, but it works really well. I've re-assembled a full kit fairly well from a single overhead mic by doing this for each drum in the kit.