Keegan Begins 2007 Drilling Programs at Esaase Gold Project
Thursday January 11, 9:00 am ET
VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--Jan 11, 2007 -- Keegan (TSX VENTURE:KGN.V - News) is pleased to announce that it has commenced drilling at its Esaase Gold Project in southwest Ghana. The company recently was successful in contracting an additional drill. The new drill is a reverse circulation rig and will be used to delineate a 1100 meter long saprolite resource (see www.keeganresources.com for a map of the planned drilling) within the 1400 meter northeast oriented zone of plus gram per ton gold mineralization drill discovered by Keegan in 2006. Saprolite is a broken up, extremely oxidized surface rock found in wet, tropical environments from which gold can usually be extracted at very low cost. The saprolite at Esaase is particularly thick in the area of planned drilling, and trenches and drill holes from this area indicate substantial widths of mineralization; with multiple parallel zones occurring.
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Keegan will be also begin core drilling mid January to continue extending the strike length of the drilled zone, as well as to begin delineating a hard rock resource below the saprolite zone. The core drill will also be used to test new targets generated by the soil geochem, IP and trenching programs.
Dan McCoy, President and CEO of Keegan Resources, states: "We are pleased to be at the stage of delineating a resource considering that we have been working on this property for only seven months. At the same time that we are delineating resources in the previously drilled area, we will continue to further test the vast potential of the 8 km long major mineralized faults outside of this area, where several geochemical anomalies remain untested."
Richard Haslinger, P. Eng. is the Qualified Person with respect to NI 43-101 at Esaase. All rock and drill samples are assayed using standard fire assay with atomic absorption finish by Transworld Laboratories (GH) Ltd., Tarkwa, Ghana. QA/QC programs using internal and external standard samples, reassays, and blanks indicate good accuracy and precision to the assays.
About Keegan Resources
With a primary focus on established gold districts located in stable political environments, Keegan's seasoned exploration and management team have leveraged their collective experience and networks of contacts to efficiently assess, acquire and explore high quality, mid stage, precious and base metal projects. With two active exploration programs in Ghana combined with an enviable capital structure, the company is well positioned to deliver an active and exciting year for its investors.
On Behalf of the Board
Dan McCoy, Ph.D., President & CEO
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