Favorable Exploration Results at African Queen's Odundu Prospect in Kenya Point to Highly Prospective Drill Targets for Upcoming Program
16.02.2012 | The Newswire
Vancouver, British Columbia -- Feb 16th, 2012 (via Thenewswire.ca) -- African Queen Mines Ltd. (the “Company“) is pleased to report favorable results from its preliminary field work and airbourne geophysics at its Odundu property in southwest Kenya's Rongo Gold Fields, which are being utilized for target generation for its upcoming core drilling program. A convergence of positive sampling and geochemical results from field work with positive results from ground and airbourne geophysics studies points to a number of highly prospective targets that the Company is planning to test by drilling.The Odundu property covers an area of approximately 97 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.
An airborne magnetic and radiometric survey was carried out by Terrascan airborne GmbH and Co Kg, a German company, on behalf of the Company. It revealed north-west south-east trending structures and a prominent shear zone traversing the Odundu property. Several smaller structural splays diverging from the main shear zone were also detected. A grab sample from an artisinal pit located within the shear zone revealed a high value of 69 g/t au. Other grab samples from this pit obtained by a Qualified Person, Dr. Peter Christopher, P.Eng., indicated gold values ranging between 6.08 and 10.10 g/t au. The rock types identified are highly altered with evidence of sulphide mineralization. To date, only a small portion of the shear zone traversing the Odundu property has been explored.
In order to follow up on the airborne magnetic anomaly, the following program was initiated and completed:
- A detailed ground magnetic survey covering 5 square kilometres was carried out by Remote Exploration Services (Pty) Ltd from South Africa;
- Geological mapping covering approximately 6 square kilometers was completed to identify the lithologies and structural trends within the ground magnetic survey area;
- Sampling and gold analysis of termite mounds located within and peripheral to the shear zone amounted to 123 samples covering an area of approximately one square kilometre.
The ground magnetic survey confirmed the existence of the shear zone/fault system detected by the airborne survey. Anomalous gold values from the termite mound samples located within and peripheral to the shear zone ranged between 0.50 ppb and 669 ppb. au, with many samples in the higher ranges. Furthermore, arsenic anomalies were detected approximately 200 metres and 1.3 kilometres north-west of the pit.
These initial favorable results prompted the company to undertake a 3D Resistivity and Induced Polarization (IP) survey of the Odundu area. This survey was administered by Akili Minerals Services Ltd, a Kenyan company. A zone of high chargeability over an approximate strike of 1.5 kilometres X 100 metres wide was detected by the IP survey within the shear zone/fault system. The Resistivity survey showed a zone of low Resistivity (high chargeability) commonly indicative of sulphide mineralization. It appears that the IP and Resistivity survey results may be related to a rich sulfide zone associated with gold.
Identification of this shear zone, which encompasses abandoned and active mining operations and demonstrates initial high gold values, is highly encouraging. A trenching program is now being completed with a view toward examining the possibility of further gold potential along the shear zone extensions. This trenching program was initiated recently and is progressing well. Ultimately, the trenching information will clarify the nature and surface extent of the mineralization, the structural detail, and complement the planned core drilling program.
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 on-site by Senior Exploration Geologist Mike Othitis, P.Geol. AI, MA, Bsc. General Project oversight is being provided by Senior Consulting Geologist Pete Siegfried (M.Sc, MAusIMM). Both are qualified persons who have reviewed and approved the contents of this press release.
According to Irwin Olian, CEO of the Company, “The convergence of positive geochemical and geophysics data at Odundu suggests a high probability of success in our upcoming reconnaissance drill program. We are excited to be moving forward now.“
About African-Queen
The Company is an exploratory resource company with diversified mineral properties in Southern, East and West Africa. It is exploring its properties in Mozambique, Ghana and Kenya for gold and other metals and it is undertaking exploration in Botswana and Namibia for diamonds, gold and other metals. In Mozambique the Company has approximately 230 sq. km. under license for gold and metals under an agreement with another company. In Ghana it has 28.9 sq. km. under license for gold. 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. The Company's 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. 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. The Company has its executive offices in Vancouver, Canada. The Company was incorporated under the laws of the Province of British Columbia, Canada on April 30, 2008 and received certain southern African assets in a spin off transaction related to the acquisition of Pan African Mining Corp. by Asia Thai Mining Co., Ltd.
ON BEHALF OF THE BOARD OF DIRECTORS OF AFRICAN QUEEN MINES, LTD.
“Irwin Olian“
Irwin Olian
Chairman & CEO
For more information, contact:
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|Irwin Olian, President and CEO |Carrie Howes, Corporate |
|E-mail: |Communications |
|tigertail@africanqueenmines.com|Email: |
|Phone: (604) 899-0100 |carrie@africanqueenmines.com |
|Fax: (604) 899-0200 |Phone: Germany - +49 (0) 21141|
| |740411 |
| |U.K. - +44 (0) 870 490 5443 |
| |? ? ? ? ? ? ? Canada - +1 |
| |416 900 3634 |
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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.