Ground Geophysics Survey Underway at African Queen′s Rongo Gold Fields Project in Kenya′s Lake Victoria Greenstone Belt
AFRICAN QUEEN MINES LTD. (the 'Company?) is pleased to announce
that work is now underway on a ground geophysics survey at its Rongo
Gold Fields Project (the 'Project?), which covers an area of
approximately 112 sq. km in the Kanango gold mining area of the Migori
District of Nyanza Province in Southwest Kenya near Lake Victoria. The
Project is situated some 380 km. by road from the capital city of
Nairobi and 60 km. N of the border with Tanzania, forming part of the
rich Lake Victoria Greenstone Belt extending from Tanzania and hosting
known world-class gold deposits including African Barrick Gold′s
Bulyanhulu and North Mara Mines, within approximately 100 km. of the
Project, and AngloGold Ashanti′s Geita Mine.
The ground geophysics survey is designed to assist in targeting an
upcoming core drilling program over the Project area which is scheduled
to commence as soon as practicable this year. The survey is a 3D
Resistivity/Induced Polarization survey of key targets comprised of 5
lines measuring in total 3,375 linear meters. The survey is being
carried out on behalf of the Company by Akili Minerals Services Ltd., a
Kenyan company, and will be completed within 30 days. The objective of
the survey is to assist in drill targeting by further delineating the
sulfide rich zone which has been already identified by a ground magnetic
survey and field exploration including termite-mound soil analysis
revealing gold content as high as 669 ppb. Structurally, the target area
is located within a shear/fault system. Small-scale miners have been
actively mining gold bearing veins in and around the Project area for
months.
The Company′s rights to the Project arise from an Earn-In and Joint
Venture Agreement with Kenyan-based Abba Mining Company ('Abba?), under
which the Company may earn up to an 85% interest in the Project by
funding prescribed optional stages from exploration through feasibility.
The Company is designated as manager and operator of the Project on
behalf of the joint venture partners. The Project is being managed on
behalf of the Company by Senior Consulting Geologist Mr. Pete Siegfried
(M.Sc., MAusIMM), a qualified person.
A 15 sq. km portion of Abba′s 112 sq. km license for the Project is
presently the subject of a dispute with B & M Mining Company which is
being litigated in the High Court of Kenya in Kisumu. (See the Company′s
Press Release dated March 31, 2011). The Company anticipates a favorable
outcome for Abba from such litigation but in any event has identified
highly prospective targets outside of the disputed area.
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