- Published: 14 January 2009
- Written by Editor
Keegan Continues to Receive Excellent Results From Esaase Resource Gold Project
Keegan Resources Inc. ("Keegan") (TSX: KGN)(NYSE Alternext US: KGN) is pleased to announce results from the resource conversion program at its Esaase property. Highlights include 11 m @ 6.5 g/t Au, 18 m @ 2.77 g/t Au, 59 m @ 1.43 g/t Au, and 74 m @ 1.16 g/t Au. All infill drilling has returned intercepts with as good or better grade widths as the surrounding holes confirming good consistency to mineralization. Please see www.keeganresources.com for a drill hole location map.
Table 1: Intercepts at the Esaase property having a minimum grade-width of
approximately 15 g/t Au x meter. Intercepts with grade-widths of
approximately 40 g/t Au x meter or higher are marked with (i).
Distances are drilled in meters and grades reported in g/t Au.
------------------------------------ ------------------------------------
Hole ID From To Width Grade Hole ID From To Width Grade
------------------------------------ ------------------------------------
KERC502 8 32 24 1.03 KEDD508 13 22 9 1.11
------------------------------------ ------------------------------------
KERC503 5 27 22 0.84 KEDD508 79 89 10 0.61
------------------------------------ ------------------------------------
KERC503 50 57 7 0.82 KEDD508 96 109 13 0.91
------------------------------------ ------------------------------------
KERC503 67 89 22 0.61 KEDD508 153 158 5 1.34
------------------------------------ ------------------------------------
KERC503 103 108 5 0.83 KEDD509 140 154 14 0.81
------------------------------------ ------------------------------------
KERC503 123 137 14 0.68 KEDD509 165 190 25 1.2
------------------------------------ ------------------------------------
KERC503(i) 156 178 22 1.75 KEDD509(i) 1 12 11 6.55
------------------------------------ ------------------------------------
including(i) 156 157 1 14.55 including(i) 4 5 1 49.1
------------------------------------ ------------------------------------
KERC504 18 29 11 0.83 KERC512(i) 0 59 59 1.43
------------------------------------ ------------------------------------
KERC504(i) 68 102 34 1.63 including(i) 7 8 1 19.05
------------------------------------ ------------------------------------
including(i) 83 84 1 42.2 KERC513 0 54 54 0.75
------------------------------------ ------------------------------------
KERC504 123 133 10 0.92 KEDD517 142 165 23 0.82
------------------------------------ ------------------------------------
KERC504 142 152 10 1.09 KEDD518 107 116 9 1.07
------------------------------------ ------------------------------------
KERC505 119 139 20 0.79 KEDD518 246.2 256 9.8 1.45
------------------------------------ ------------------------------------
KERC506(i) 125 152 27 1.2 including 247.2 248.2 1 11.8
------------------------------------ ------------------------------------
including(i) 151 152 1 14.7 KEDD518 283 294 11 1.16
------------------------------------ ------------------------------------
KERC506 181 192 11 0.92 KEDD518(i) 325 399 74 1.16
------------------------------------ ------------------------------------
KERC506 223 232 9 1 including(i) 378 379 1 38.7
------------------------------------ ------------------------------------
KEDD507 72 98 26 0.64 KERC519(i) 109 127 18 2.77
------------------------------------ ------------------------------------
KEDD507 107 120 13 0.79 including(i) 119 120 1 28.4
------------------------------------ ------------------------------------
President and CEO, Dan McCoy, states: "We are pleased to see the strength and continuity of mineralization at Esaase and look forward to receiving the new resource estimate that these results will positively contribute to in the near future."
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 and on the NYSE Alternext US 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.
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The TSX and NYSE Alternext US Exchange have not reviewed and do not accept responsibility for the adequacy or the accuracy of this release.
Contacts: Keegan Resources Inc. Dan McCoy, Ph.D. President & CEO (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
