********HERE'S THE NEWS FOR ALL TO SEE**********
FOR: AKIKO GOLD RESOURCES LTD.
VSE SYMBOL: AKI
JANUARY 30, 1997
Akiko Defines Ghana Gold Drill Targets
VANCOUVER, BRITISH COLUMBIA--The second phase of Akiko Gold's
successful 1996 reconnaissance program on the Antubia Mine-Afere
concession located in southwestern Ghana has been completed. All
analytical results from this program have now been received and
are being integrated and interpreted to help plan drilling
scheduled to commence by March/April 1997. This second phase 1996
recon, consisting of geochemical sampling and a ground magnetics
survey, more completely defined and substantially expanded the
East Juabeso and Afere anomalies. It also identified and
partially defined another significant target southwest of the old
Antubia mine near the village of Antobia, and indicated additional
prospect to the north.
The results from the 1996 Phase I and II programs indicate that
the northeast trending East Juabeso anomaly consists of several
parallel higher grade zones that contain gold values up to 850 ppb
in the soil. The anomaly has now been defined over a strike
length of 1650 m (5362') with widths up to 700 m (2275'). The
East Juabeso anomaly covers numerous shallow native and European
workings from which an underground channel sample collected in
1995 contained 3.0 m (9.75') averaging 5.39 g/t (0.157 oz/t) gold.
This anomaly appears to be situated at or near a major splay or
structural intersection related to regional scale northeast
trending structures.
The 1996 exploration results at the Afere anomaly located
approximately 2.0 km (1.2 mi) southeast of the East Juabeso
anomaly indicate that soil gold values up to 1000 ppb are related
to two intersecting zones of northeast trending quartz veins. The
anomaly has now been defined over a strike length of 1200 m
(3900') with widths up to 1000 m (3250'). The Afere anomaly
covers an area of shallow native workings from which a 1994 chip
sample of a 1.0 m (3.25') wide zone of quartz veining contained 30
g/t (0.99 oz/t) gold. As at the East Juabeso anomaly,
aeromagnetic data for the Afere anomaly indicate that anomalous
gold mineralization is located at or near a major splay or
structural intersection related to regional scale northeast
trending structures.
In addition to the East Juabeso and Afere anomalies that remain
open to expansion along strike, the 1996 Phase II program has
defined a broadly anomalous area approximately 1500 m (4875') in
length and 700 m (2275') in width near the village of Antobia.
This complex geochemical anomaly covers an area of recent native
workings and is on the southwest extension of the Antubia mine
shear zone. Also, there are newly indicated prospects in the
northern sector of the concession associated with splays from the
main Antubia shear, with valuable soil geochemical responses
indicating additional gold targets over a strike length of
approximately 1.5 km.
The company's 141 km2 (54 mi2) concession is accessibly located in
southwest Ghana on the west flank of the highly mineralized
Bibiani greenstone belt that lies northwest of and parallels the
prolifically mineralized Axim-Konongo greenstone belt hosting the
Ashanti and Prestea mines. The Antubia Mine-Afere concession is
situated in an area undergoing active exploration 66 km (40 mi)
southwest of the two million ounce Bibiani mine. The 1996
exploration results are being used to plan 1997 exploration work
which will begin with additional geochemical sampling, an IP
survey and an initial phase of drilling at Afere. Like other gold
targets on the concession, the Afere anomaly has geologic
potential for zones of quartz veins hosting significant open pit
as well as underground gold deposits.
On Behalf of the Board of Directors
"Stephen E. Flechner"
President & Chief Executive Officer
Ghana is one of the BIG PLAYS right now and AKI seems to be right in the middle of it. I hope the drill results bear this out!
Grant |
