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Friday, 26 October 2012
African Queen Mines finds four new targets at Ugunja project
African Queen Mines (CVE:AQ) has found four new targets from continuing field work in its phase 1b exploration program at the Ugunja gold project in Kenya.
"We are delighted that preliminary exploration of our Ugunja project in western Kenya is continuing to generate positive results with identification of numerous highly prospective targets," said CEO Irwin Olian.
"We are anxious to accelerate our activities at Ugunja to identify the optimal drill targets in order to commence a core drilling program in the coming months."
The company said Friday anomalous gold was prevalent throughout the area examined, with recent sample results returning assays of 30.018 grams per tonne (g/t) gold and 4.8 g/t silver over a true width of 80 centimetres, with a repeat of 26.07 g/t gold.
The Ugunja project hosts around 370 square kilometres in the Busia, Siaya and Kakamega areas, located north of the shores of Lake Victoria in western Kenya.
The property is also around 100 kilometres northwest of the company's Odundu project in the Rongo Gold Fields, also on the Lake Victoria greenstone belt, where African Queen recently finished core drilling.
From a total of 99 recent samples collected from trenching on the Rariada structure at Ugunja, 12 tested above 0.5 g/t gold, the miner said.
Trenching on other structures in the area also returned anomalous gold results, including one trench sample from the Ligega area that tested above 1 g/t gold.
These results are on top of prior sample results from Ugunja that were reported this past summer, when the company found visible gold near surface.
Property mapping and prospecting has now identified four additional prospective areas from which grab samples from surface returned results from 0.6 to 40.6 g/t gold, the company said.
It added that preliminary results from a satellite image show that the Rariada structures as well as the new areas identified occur in zones of intersection, of at least two regional shear zones.
"These intersections create a favorable environment for the deposition of gold with the potential to host commercial deposits," African Queen said in its statement.
Mapping and prospecting continues and additional trenching is planned on several of the different targets found.
The company noted that African Barrick Gold plc recently announced a deal to acquire an interest in ground next to its Ugunja project from Aviva Corporation Limited.
African Queen, as operator of the project, can earn up to an 85 per cent interest in Ugunja by funding optional stages from exploration through feasibility.
Work done so far on the property has included stream sediment sampling, rock sampling, trenching, mapping and geophysics surveys.
Vancouver-based African Queen is exploring its properties in Mozambique, Ghana and Kenya for gold and other metals and it is undertaking exploration in Botswana and Namibia for diamonds, gold and other metals.