Birim receives Aboronye results from Ashanti
Birim Goldfields Inc BGI
Shares issued 23,855,899 Jul 26 close $0.25
Mon 30 Jul 2001 News Release
Also Alberta Hotel Development Corp (AHD)
Mr. Denis Simoneau reports
Birim Goldfields has received results from Ashanti Goldfields Company for
trenching and sampling conducted by them on the Aboronye gold prospect,.
This area is located 500 metres west of the Mampon gold deposit and is
outside the forest reserve boundary. The prospect lies within the
40-square-kilometre portion of the Dunkwa property which Birim spun off to
Ashanti last year. Birim is to receive advanced royalty payments for all
the recoverable ounces of gold within this area.
Twenty-nine trenches, extending over a cumulative length of 1,512 metres,
were excavated in a northeast-southwesterly direction across four newly
discovered mineralized zones along a strike length of 700 metres. The
mineralization appears to be present along a splay off the main Ashanti
structure, as is commonly found at Ashanti's deposits at Obuasi. Good gold
values were encountered along 580 metres of this strike length. Of the
1,008 samples assayed, 362 samples returned values above 0.5 gram of gold
per tonne, with the average of these being 2.04 grams per tonne.
Twenty-five samples assayed greater than 5.0 grams of gold per tonne
showing the existence of high-grade zones such as are found at Mampon. In
addition, the mineralized zones exhibited good continuity from trench to
trench. The results of this work are presented in the following table:
Length From To Width Grade
Trench (m) (m) (m) (g/t)
TAB01A 69.0 No significant
mineralization
TAB02A 82.5 10.5 64.5 54.0 1.07
TAB03A 103.5 7.5 72.0 64.5 2.12
TAB04A 55.5 36.0 52.5 16.5 0.98
TAB04B 61.5 18.0 45.0 27.0 3.97
TAB05A 126.0 28.5 69.0 40.5 1.68
TAB06A 84.0 16.5 52.5 36.0 1.51
TAB07A 40.5 0.0 40.5 40.5 1.93
TAB07B 16.5 No significant
mineralization
TAB08A 9.0 No significant
mineralization
TAB08C 25.5 No significant
mineralization
TAB09A 36.0 0.0 28.5 28.5 2.15
TAB09B 16.5 No significant
mineralization
TAB10A 37.5 0.0 27.0 27.0 0.83
TAB11A 37.5 19.5 37.5 18.0 1.22
TAB12A 85.5 No significant
mineralization
TAB12B 12.0 No significant
mineralization
TAB13A 63.0 4.5 24.0 19.5 1.92
TAB14A 97.5 10.5 76.5 66.0 1.89
TAB15A 46.5 7.5 40.5 33.0 1.41
TAB16A 48.0 4.5 40.5 36.0 2.63
TAB17A 54.0 No significant
mineralization
TAB18A 28.5 No significant
mineralization
TAB19A 48.0 No significant
mineralization
TAB20A 33.0 4.5 33.0 28.5 3.74
TAB21A 34.5 No significant
mineralization
TAB22A 46.5 12.0 28.5 16.5 2.37
TAB23A 55.5 No significant
mineralization
TAB24 58.5 No significant
mineralization
*These co-ordinates represent the northeast end of the trench.
From these data, Birim believes that Aboronye could host mineralized zones
which are lower in grade but higher in tonnage than at Mampon. If shown to
be economic, the ore could be trucked to Ashanti's heap-leach facility 20
kilometres to the west at Ayanfuri. These results and corresponding maps
are posted on Birim's Web site at www.birim.com.
Ashanti is keen to follow up on these results and has prepared 36 drill
sites for a reverse circulation drilling program which is scheduled to
begin shortly. Given the encouraging results obtained at Aboronye, Ashanti
will be carrying out trenching on two other prospects within the
40-square-kilometre area, namely Adukrom and Akwaboa, located to the south
of Aboronye and also outside the forest reserve.
The name of the qualified person (QP) supervising the field program for
Ashanti is Clement Asamoah-Owusu, MSc (Leicester), manager geology --
exploration. Birim's QP is Matthew Chinn, chartered geologist, FGS,
MAusIMM, vice-president -- exploration. All the assaying was carried out at
AGC Laboratories in Obuasi using fire assay with atomic absorption finish.
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