Ghana Drilling Update
July 07 2005 - 3:01AM
UK Regulatory
RNS Number:5986O
African Gold PLC
07 July 2005
AFRICAN GOLD plc
Ghana Drilling Update
The Board of African Gold plc, the AIM listed African Gold Explorer and Miner,
is pleased to provide an update on the Company's ongoing exploration activities
in Ghana. The current focus is on the Konongo gold mining lease of 125sq km, in
the Ashanti gold belt of Ghana.
A second round of drilling has been completed on the Obenemase and Leopard
prospects, with continued encouraging results. First pass drilling was also
undertaken at the new Boabedroo prospect where a widespread low grade gold
mineral section was encountered.
The strong results from all three prospects confirm the Company's view that the
gold resource within the Konongo licence, presently in excess of 950,000 ounces,
will be substantially exceeded. In particular, the Leopard and Boabedroo
prospects show promise of hosting significant new gold resources at shallow
depth.
Drilling programmes to bring the Leopard and Boabedroo prospects to resource
status are planned. Resource calculations have commenced for the Obenemase
deposit, which has now been proved over a strike length of 1.0 km and to a depth
of 250 metres, remaining open to the north.
Obenemase
Several holes were drilled to test the continuity of the Obenemase
mineralization to the north where the system is open ended. Two holes
intersected the sulphide body at depths of 150 to 230 metres below surface, with
significant results as follows:-
Hole ID From To Interval Grade Au g/t
(m) (m)
05 OBADD638 174.0 179.0 4.0 4.47
183.0 189.0 6.0 7.07
201.0 205.0 4.0 9.62
05 OBADD049 301.0 303.0 2.0 35.74
352.0 355.0 3.0 10.78
A third round of drilling is proposed to a depth of +300 metres below surface.
The continuity of the Obenemase deposit has now been proved over a strike length
of over 1.0 km and to a depth of 250 metres, remaining open to the north. Resource
calculations have commenced using in-house and independent consultants.
Leopard
A total of 84 holes have now been drilled on 25 metre spaced sections, to an
average depth of 80 metres below surface. The results, tabulated below, confirm
the presence of a new mineralised system, with three parallel quartz veins
occurring over a width of 30 metres with an indicated strike length of over 500
metres. The mineralization remains open in depth and along strike to the north.
African Gold plc has planned a follow-up drilling programme to test the system
to a depth of 200 metres below surface, using a combination of reverse
circulation and core drilling.
Leopard Table
Hole ID From To Interval Au g/t
(m) (m)
04 LERC 004 25.0 26.0 1.0 6.8
04 LERC 006 30.0 33.0 3.0 5.58
39.0 41.0 2.0 4.88
04 LERC 007 15.0 22.0 7.0 3.60
04 LERC 008 37.0 38.0 1.0 4.26
63.0 65.0 2.0 3.36
04 LERC 039 34.0 35.0 1.0 6.15
04 LERC 051 24.0 28.0 4.0 7.44
05 LERC 057 22.0 23.0 1.0 4.60
43.0 44.0 1.0 4.68
05 LERC 058 63.0 66.0 3.0 5.12
05 LERC 063 61.0 63.0 2.0 3.04
05 LERC 072 77.0 78.0 1.0 9.26
05 LERC 073 28.0 29.0 1.0 3.14
Boabedroo
A first pass programme of twelve diamond cored holes has been completed at the
new Boabedroo prospect, below the open pits which had previously mined oxidised
ore to a depth of 30 metres. The Boabedroo underground mine produced over
1.0 million tonnes of ore averaging 16 g/t Au to a depth of 650 metres, prior to
1984. African Gold has targeted wide zones of lower grade mineralization which
were thought to surround the narrow, high grade veins of the previous mine.
The initial results are highly encouraging, confirming the presence of a lower
grade mineralised zone from 9.0 to 28.0 metres wide. The indicated strike length
of the prospect, as established by drilling, is 700 metres, with potential to the
south for a further 300 metres, as indicated by underground mine workings.
Boabedroo Table
Hole ID From To Interval Au g/t
(m) (m)
05 BBS DD 001 155.0 164.0 9.0 1.22
169.0 178.0 9.0 2.54
05 OBBS DD 007 92.0 94.0 2.0 21.34
135.0 145.0 10.0 5.62
05 OBBN DD 001 4.0 32.0 28.0 1.24
101.0 104.0 3.0 2.59
05 OBBN DD 002 135.0 139.0 4.0 2.15
05 OBBN DD 003 119.0 136.0 17.0 1.92
05 OBBN DS 005 142.8 158.0 16.0 0.93
A second round of core drilling is planned to test the full 1.0 km strike
length, initially to a depth of 200 metres.
Enquiries:
Oliver Baring + 44 (20) 7654 5588
African Gold
Tom Randell/ Maria Suleymanova + 44 (20) 7653 6620
Merlin
This information is provided by RNS
The company news service from the London Stock Exchange
END
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