Category: Uncategorized
- Published: 29 November -0001
Keegan Continues to Hit Excellent Gold Grades on Stepout Holes at Esaase
Keegan Resources Inc. (\"Keegan\") (TSX VENTURE: KGN)(AMEX: KGN) is pleased to announce results from step out drilling at the Esaase property. Highlights include 32 meters of 1.67 g/t Au in the B-1 zone, 25 meters of 1.51 g/t Au in the north extension, and 38 meters of 1.68 g/t Au in the south extension. While stepping out to the far north to test the possible extent of the main zone Keegan hit its first significant intercept, located 1.5 km north of the existing 43-101 resource. Hole 356 contained 11 meters of 1.46 g/t Au; mineralization is open along the full distance between this intercept and the resource zone. Please see www.keeganresources.com for a drill hole location map.
Table 1. Significant step out hole intercepts
from recent Esaase Drilling
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north, far north, and d-1 extensions
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From To Width Grade
Drill ID (m) (m) (m) (gt)
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KERC392 206 232 26 1.39
including 229 230 1 10.1
KERC392 168 191 23 0.87
KERC395 191 216 25 1.51
KERC397 49 67 18 1.42
KERC397 95 105 10 1.25
KERC397 118 131 13 1.43
KERC397 207 219 12 1.37
KERC398 110 116 6 2.45
KERC400 154 160 6 1.63
KERC356 118 129 11 1.46
including 121 122 1 12.2
KEDD383 43 51 8 0.79
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west, B-1 and south extensions
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From To Width Grade
Drill ID (m) (m) (m) (gt)
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KEDD336 130 135 5 0.98
KEDD336 172 183 11 0.5
KEDD336 326.4 345 18.6 0.83
KERC365 154 166 12 1.22
KEDD368 208.9 240.9 32 1.67
KEDD370 186 196.4 10.4 1.16
KEDD370 210 217.1 7.1 1.01
KEDD371 176 196 20 1.58
KERC374 116 147 31 0.8
KERC379 52 62 10 1.72
including 53 54 1 12.55
KEDD381 42 80 38 1.68
including 42 43 1 18.8
and 64 65 1 20.1
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Notes: All distance measurements in meters
and grades in gram per ton Au
President and CEO Dan McCoy states: \"We are continuing to see the gold resources at Esaase expanding and extending in multiple zones and directions. We will continue drilling continuously and expect to release an expanded resource by the end of the year.\"
Richard Haslinger, P. Eng. is the Qualified Person with respect to NI 43-101 at Esaase. RC samples were taken at one meter intervals under dry drilling conditions by geologic and resource consultant RSG Global, Inc. utilizing drilling and sampling techniques widely accepted in resource definition studies of other West African gold deposits. All reverse circulation drill samples are weighed on site. Drill core is HQ width and is split logged and sampled on site. All core and RC samples are assayed using standard 50 gram fire assay with atomic absorption finish by Transworld Laboratories (GH) Ltd. in Tarkwa, Ghana or SGS Labs in Tarkwa, Ghana. QA/QC programs using internal and external standard samples, re-assays, and blanks indicate good accuracy and precision in a large majority of standards assayed. Repeatability in duplicate samples is generally within 10% variance. In instances where variance is greater than 10%, the assays from both samples are averaged. Intercepts were calculated to emphasize width rather than grade: a minimum of a 0.2 g/t cut off at beginning and end of the intercept and allowing for no more than six consecutive samples (six meters) of less than 0.2 g/t Au. All internal intercepts above 10 g/t Au are reported within the intercept. Intercepts of less than 5 meters or less than 5 g/t Au X meter grade-thickness are not reported. Mineralization in each zone strikes from approximately 10 to 30 degrees east of north and dips 45 to 90 degrees to the west. Drill holes are oriented at 90 to 110 degrees azimuth (270 in holes targeting the vertically dipping B-1 structure and are inclined at 45 to 60 degrees, so true widths are estimated to be over 70% of the drilled widths.
About Keegan Resources
Keegan is a junior gold company offering investors the opportunity to share ownership in the rapid exploration and development of high quality, pure gold assets. The Company is focused on its wholly owned flagship Esaase and Asumura gold projects located in Ghana, West Africa. Managed by highly skilled and successful technical and financial professionals, Keegan is well financed with no debt. Keegan is also strongly committed to the highest standards for environmental management, social responsibility, and health and safety for its employees and neighboring communities. Keegan trades on the TSX-VEN and on the AMEX under the symbol KGN. More information about Keegan is available www.keeganresources.com.
On Behalf of the Board
Dan McCoy, Ph.D., President & CEO
This release includes certain statements that may be deemed forward-looking statements. All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and those actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, Investors should review the Company\'s filings that are available at www.sedar.com.
To view the map accompanying this release please click the following URL: http://media3.marketwire.com/docs/Keeg%20Map.pdf
The TSX Venture and AMEX Exchange have not reviewed and do not accept responsibility for the adequacy or the accuracy of this release.
Contacts: Keegan Resources Inc. Investor Relations (604) 683-8193 or Toll Free: 1-800-863-8655 (604) 683-8194 (FAX) Email: This email address is being protected from spambots. You need JavaScript enabled to view it. Website: www.keeganresources.com
SOURCE: Keegan Resources Inc.
mailto:This email address is being protected from spambots. You need JavaScript enabled to view it. http://www.keeganresources.com
