African Queen Granted Prospecting License for New Karameri Metals Project in Kenya
AFRICAN QUEEN MINES LTD. (the 'Company?) is pleased to announce
that its Kenyan operating subsidiary, AQ Kenya Gold Limited ('AQKGL?),
has now been granted Special License No. 307 (the 'License?) by the
Commissioner of Mines and Geology of the Government of the Republic of
Kenya (the 'Commissioner?). The License grants full and exclusive rights
to AQKGL to prospect and explore for copper, gold, nickel and iron ore
for an initial period of two years within an area of approximately 850
sq. km. known as Karameri in the West Pokot District in Western Kenya
near the border with Uganda (the 'License Area?). The License Area is
approximately 240 km. N of the city of Kisumu, where AQKGL maintains its
principal base of operations and manages its joint ventures for the
Rongo Gold Fields and Ugunja Projects which are also in the region.
The License Area is highly prospective for copper, gold, iron ore and
nickel, with numerous occurrences of copper, gold and iron ore having
been observed as well as artisanal gold workings. It is largely
underexplored, with the last known comprehensive exploration work having
been conducted during the 1930′s by Walsh and others working for the
Geological Survey. The nature and extent of the mineral occurrences
suggests a complex regional system may be at play with the potential to
host economic mineralization. The general association of gold, copper
and iron is deemed to be significant and potentially suggests a
mineralization model associated with iron-oxide-copper-gold (IOCG)
enriched rocks which will be investigated through the Company′s upcoming
exploration program on the License.
The License Area appears generally to be underlain by high-grade
paragneisses of indeterminate age. Recent research in the records of the
Geological Survey of Uganda suggest that these rocks are probably of
Meso- or Neoproterozoic age rather than the "basement′ or Archaean
lithologies previously noted in old reports. At present the Company is
exploring its King Solomon Project in Mozambique, where similar rock
types are observed, and it is suggested that the lithologies in this
part of Kenya may be of a similar age and nature. Part of the Company′s
early exploration program will therefore involve the detailed mapping
and dating of these rocks in order to put them within a proper
tectono-stratigraphic context.
The Phase 1 Exploration Program for the License Area is presently being
planned and will be commenced after receipt of all requisite work and
environmental permits. AQKGL has been well-received in the area on
initial field visits and the Company continues to build a positive
working relationship with the Commissioner and the Directorate of Mines
of Kenya. The Karameri Metals Project is being managed on behalf of the
Company by Senior Consulting Geologist Mr. Pete Siegfried (M.Sc.,
MAusIMM), a qualified person.
According to Irwin Olian, CEO of the Company, 'We are very gratified to
have been granted the Karameri License by the Commissioner. This allows
us to expand our gold and metals exploration efforts in Western Kenya.
We are now working on three properties in the region out of our Kisumu
headquarters and are striving to create a success for all concerned
through well-conceived and funded programs carried out to the highest
professional standards.?
About African-Queen
The Company is an exploratory resource company with diversified mineral
properties in Southern and West Africa. It is exploring its properties
in Mozambique, Kenya and Ghana for gold and other metals and it is
undertaking exploration in Botswana and Namibia for diamonds, gold and
other metals. The Company′s licenses in Botswana comprise approximately
2890 sq km of diamond prospects. In Mozambique it has approximately 230
sq km of gold and other metals licenses under an agreement with another
company. In Kenya it has approximately 850 sq. km. under license for
gold and metals, and a further 737 sq. km. of gold and other minerals
licenses under agreements with two other companies. Its operations in
Botswana are carried out through its operating subsidiary, PAM Botswana
(Pty) Ltd.; its operations in Namibia are carried out through its
operating subsidiary PAM Minerals Namibia (Pty) Ltd.; its operations in
Mozambique are carried out through its subsidiary PAM Mocambique
Limitada and its operations in Ghana are carried out through its
subsidiary AQ Ghana Gold Limited. Its operations in Kenya are being
carried out through its operating subsidiary AQ Kenya Gold Limited. The
Company has its executive offices in Vancouver, Canada.
ON BEHALF OF THE BOARD OF DIRECTORS OF
AFRICAN QUEEN
MINES, LTD.
'Irwin Olian?
Irwin Olian
Chairman
& CEO
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of the content of the
information contained herein. The statements made in this press release
may contain certain forward-looking statements that involve a number of
risks and uncertainties. Actual events or results may differ from the
Company′s expectations.
African Queen Mines Ltd.
Irwin Olian, President and CEO
E-mail:
tigertail@africanqueenmines.com
Phone:
604-899-0100
Fax: 604-899-0200
or
Carrie Howes, Corporate
Communications
Email: carrie@africanqueenmines.com
Phone:
Germany - 49 (0) 21141 740411
U.K. - 44 (0) 870 490 5443
Canada
- 1 416 900 3634