- Published: 09 September 2008
- Written by Editor
Keegan Reports Excellent Results From Drilling to South of Esaase Gold Resource
Keegan Resources Inc. ("Keegan") (TSX VENTURE: KGN)(AMEX: KGN) is pleased to announce results from step out drilling up to 900 meters south of the boundary of the existing 43-101 resource at the Esaase property. Highlights include 69 m @ 1.83 g/t Au, 28 m @ 1.99 g/t Au, and 14 m @ 3.05 g/t Au. Keegan has just begun testing the extensions of the south extension of the A-1 zone down dip and the intercepts reported are still at relatively shallow depths, a mere 70-130 meters below the surface. The drill holes in this area are intersecting the moderately west dipping basal zone of mineralization and consistently delivering wide intercepts of plus gram material (please see Table 1). Keegan believes that it can add significant resource in the southern extension of the A-1 zone and will continue to aggressively explore in this area. Please see www.keeganresources.com for a drill hole location map.
Table 1: Intercepts from South step out drilling at the Esaase property
that have a minimum grade-width of approximately 15 g/t Au x meter.
Intercepts with grade-widths of approximately 45 g/t Au x meter or higher
are marked with (i). Distances are in meters and grades reported in g/t Au.
----------------------------------- -------------------------------------
Hole ID From To Width Grade Hole ID From To Width Grade
----------------------------------- -------------------------------------
A-1 extension to the south
----------------------------------- -------------------------------------
KERC466 15 27 12 1.75 KERC473(i) 157 171 14 3.05
----------------------------------- -------------------------------------
including 26 27 1 13.3 including 170 171 1 39
----------------------------------- -------------------------------------
KERC466(i) 166 235 69 1.83 KERC473(i) 189 217 28 1.99
----------------------------------- -------------------------------------
including(i) 197 198 1 30 including 214 215 1 39.7
----------------------------------- -------------------------------------
KERC467 82 87 5 2.57 D-1 zone
----------------------------------- -------------------------------------
KERC467 137 155 18 0.73 KEDD459 17 33 16 0.89
----------------------------------- -------------------------------------
KERC467 193 221 28 1.13 KEDD460 50 81 31 0.65
----------------------------------- -------------------------------------
including 82 83 1 10.8 KEDD460 122.9 127.9 5 2.15
----------------------------------- -------------------------------------
KERC468(i) 130 168 38 1.25 including 122.9 124 1.1 25.6
----------------------------------- -------------------------------------
KERC468 189 201 12 1.01 KERC461 63 74 11 1.69
----------------------------------- -------------------------------------
KERC469 115 125 10 1.38
-----------------------------------
KERC470 97 133 36 1.12
-----------------------------------
including 131 132 1 14.8
-----------------------------------
President and CEO Dan McCoy states: "Keegan continues to extend the resource at the Esaase deposit which supports the company's goal to deliver a significant, modern open pit gold mine. The company is presently adequately financed to continue to rapidly advance exploration and engineering efforts at Esaase well into 2009."
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 diameter 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, SGS Labs in Tarkwa, Ghana, or ALS Chemex Labs in Kumasi, 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 15 g/t Au x meter grade-thickness are not routinely reported. Mineralization in the A structure strikes approximately 10 to 30 degrees east of north and dips 45 to 90 degrees to the west. Holes are drilled at 110 degrees azimuth and are inclined at 45 to 60 degrees, so true widths are estimated to be over 80% 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 Esaase Drill hole Location Map please click on the following link: http://media3.marketwire.com/docs/kgn99.jpg.
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
