Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Mining News of Note -- Ignore unavailable to you. Want to Upgrade?

To: LoneClone who wrote (44536)	10/6/2009 12:40:17 PM
From: LoneClone	Read Replies (1) \| Respond to of 194514

Keegan finds multiple high grade gold zones at Esaase gold project in Ghana Junior gold explorer, Keegan Resources, has been finding multiple high grade gold zones at its Esaase property in Ghana Posted: Tuesday , 06 Oct 2009 LONDON (Proactive Investors) - mineweb.com Keegan Resources Inc (TSX, NYSE Amex: KGN) said new results from its 2009 drilling program at the Esaase gold property in southwest Ghana show further “excellent results” from drill holes down dip from the existing resource as well as from shallow strike extension drilling to the north of the current resource targeting high grades at shallow depths. The results from the deeper drilling show multiple high grade zones including 9.3 metres of 11.1 grams per ton of gold as well as wide intercepts of significant mineralization including 21 meters of 2.04 g/t Au and 41 metres 1.1 g/t Au. The results of the shallow holes include 7 meters of 7.96 g/t Au and 5 meters at 3.37 g/t Au, all at less than 100 meters depth. Keegan has incorporated the down dip results into its existing model and is planning the next stage of drilling in this area. There are numerous assays still pending from ongoing drilling to the north. President and CEO Dan McCoy said: "These new results provide additional confirmation of Keegan's potential to add significant ounces to the deposit both at depth as well as along strike. While Keegan proceeds with its aggressive exploration program, the engineering and environmental team is also making excellent progress on development-oriented projects such as metallurgical and mine planning studies and comprehensive environmental and community engagement programs.” The NI 43-101 compliant resource calculation dated February 2009 indicates a 2.025 million ounce indicated and 1.451 million ounce inferred resource at Esaase averaging 1.5 g/t and 1.6 g/t Au respectively at a cutoff grade of 0.6 g/t Au. The company also holds 100 percent of the exploration licence of the Asumura property in southwest Ghana on the western boundary of the Sefwi-Bibiani belt, which is one of three major gold producing belts in southwest Ghana. The deposit is 65 km southwest from Newmont's Ahafo deposits which has reserves of 12.2 million ounces at 2.21 g/t Au, with a total reserve and resource over 17 million ounces. The targets at Asumura are disseminated open pit gold deposits. Published courtesy of Proactive Investors – www.proactiveinvestors.co.uk