African Queen Mines Limited

Published : September 07th, 2016

AFRICAN QUEEN FURTHER EXPANDS LAND POSITION SOUTH OF YELLOWJACKET GOLD PROJECT

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Keywords :   Canada | Diamond | Dubai | Georgia | Germany | Gold | London | Mines |

09/06/16 -AFRICAN QUEEN FURTHER EXPANDS LAND POSITION SOUTH OF YELLOWJACKET GOLD PROJECT

AFRICAN QUEEN FURTHER EXPANDS LAND POSITION SOUTH OF YELLOWJACKET GOLD PROJECT

Vancouver, British Columbia - AFRICAN QUEEN MINES LTD. (the 'Company') is pleased to announce that it has now acquired an additional 2565 hectares in five key mineral tenures adjacent to its Yellowjacket Gold Project near Atlin, BC (the 'Project'). The Company now controls 46 mineral claims, placer claims and placer leases covering an aggregate of 25,369 hectares or approximately 253.69 sq. km of strategic ground in the historic Pine Creek, Spruce Creek and McKee Creek areas in the Atlin district. Management views this ground as highly prospective for its potential to host commercially viable hard-rock gold deposits.

The newly acquired tenures are underlain by a complex network of cross faults and favourable geologic units, including rock types typically associated with gold in the Atlin District, including altered ultramafics and Cache Creek Group mafic volcanic and sedimentary units. These rock types are associated with accreted terranes known to host the bulk of orogenic (mesothermal) gold deposits worldwide. Located to the S and SE of the Yellowjacket zone which has been the subject of mining operations since 1898, these claims cover the head of the placer channel for McKee Creek which is notable for its coarse placer gold nuggets. The tenures also cover tributaries to the historically richest placer gold section of Spruce Creek.

The company is planning to conduct preliminary exploration programs to assess the mineral potential of these newly acquired tenures as well as its other hard rock mineral claims. The Company's long-term exploration and development program contemplates: (i) further exploration and development of the Yellowjacket Zone, Rock of Ages Zone and other ground associated with the historic mine site at the Project, with a view toward expanded resource delineation sufficient to justify restarting a commercial mining operation; and (ii) exploration and development of the Company's large base of mineral tenures throughout the District with a view toward making one or more discoveries of new gold mineralized zones with potential to host commercially viable gold deposits.

On the Yellowjacket Zone, an initial four-hole Diamond drilling program has just been completed utilizing a local drilling contractor and assays are pending from Bureau Veritas laboratories in Vancouver, BC. Results will be announced as soon as available to the Company. Further drill holes are being targeted at this time with drilling plans to be finalized after receipt of assays on the initial holes.

According to Irwin Olian, CEO of the Company, 'Our exceptional team of highly experienced geologists is continuing to assess the regional potential for hard rock gold deposits in the Atlin District and to assist management in making strategic property acquisitions. We have now assembled and control what amounts to the largest body of highly prospective hard rock mineral tenures in the region, including those covering areas associated with many of the most prolific placer gold producing creeks in the region. We are very excited about our potential for making new discoveries and look forward to future exploration with great anticipation.'

Linda Dandy, P.Geo., a Qualified Person within the meaning of N.I. 43-101, is providing on site supervision and guidance at the Project and has reviewed and approved the contents of this press release. She previously oversaw exploration activities on the project for a predecessor operator. Overall project leadership at Yellowjacket is being provided by Dr. Reinhard Ramdohr.

About African-Queen The Company is an exploratory resource company engaged in exploration and development of mineral properties in Canada and Africa. It is presently focusing on development of its Yellowjacket Gold Project in Atlin, British Columbia, which covers an aggregate of approximately 253.69 sq. km. The Company has its executive offices in Vancouver, Canada. The Company was incorporated under the laws of the Province of British Columbia, Canada on April 30, 2008, and received certain southern African assets in a spin off transaction related to the acquisition of Pan African Mining Corp. by Asia Thai Mining Co., Ltd.

ON BEHALF OF THE BOARD OF DIRECTORS OF AFRICAN QUEEN MINES, LTD.

'Irwin Olian'
Irwin Olian
Chairman & CEO

For more information, contact:

Irwin Olian
President and CEO
E-mail: [email protected]
Phone: (604) 899-0100
Fax: (604) 899-0200

Carrie Howes
Corporate Communications
Email: [email protected]
Phone:
Dubai - +971 55 997 0427
London - +44 (0) 7780 602 788
Germany - +49 (0) 21141 740411
U.K. - +44 (0) 870 490 5443

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of the information contained herein. The statements made in this press release may contain certain forward-looking statements that involve a number of risks and uncertainties. Actual events or results may differ from the Company's expectations.

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African Queen Mines Limited

EXPLORATION STAGE
CODE : AQ.V
ISIN : CA00830C1095
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African Queen is a gold exploration company based in Canada.

African Queen holds various exploration projects in Botswana, in Mozambique and in Namibia.

Its main exploration properties are KING SOLOMON and CAZULA in Mozambique, NOYEM NYAFOMAN in Ghana and OKAVANGO KIMBERLITE and TSAU KIMBERLITE in Botswana.

African Queen is listed in Canada and in Germany. Its market capitalisation is CA$ 2.5 millions as of today (US$ 2.0 millions, € 1.6 millions).

Its stock quote reached its highest recent level on October 08, 2010 at CA$ 0.75, and its lowest recent point on September 11, 2015 at CA$ 0.01.

African Queen has 101 190 000 shares outstanding.

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Financings of African Queen Mines Limited
3/6/2012ANNOUNCES PRIVATE PLACEMENT
Nominations of African Queen Mines Limited
4/18/2012APPOINTS JENNIFER TODHUNTER AS NEW CFO AND DIRECTOR
Project news of African Queen Mines Limited
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4/26/2013PRESENTING AT CHICAGO RESOURCE EXPO ON APRIL 26, 2013
3/25/20132013 FIELD EXPLORATION PROGRAM COMMENCES AT AFRICAN QUEEN
1/14/2013EXPLORATION LICENSE FOR AFRICAN QUEEN?S NOYEM-NYANFOMAN
11/13/2012INITIAL CORE DRILL RESULTS AT AFRICAN QUEEN?S NOYEM-NYAN
7/12/2012ENCOUNTERS BROAD ZONES OF MINERALIZATION AT
4/16/2012CORE DRILLING COMMENCES AT AFRICAN QUEEN?S ODUNDU PROPER
2/22/2012COMMENCES DRILLING AT NOYEM-NYANFOMAN GOLD P
2/19/2012FAVORABLE EXPLORATION RESULTS AT AFRICAN QUEEN?S ODUNDU
1/19/2012SECURES DRILLER FOR NOYEM-NYANFOMAN PROJECT
1/6/2012(King Solomon)REPORTS RESULTS FROM 2011 RECONNAISSANCE DRILL PROGRAM AT KI...
5/25/2011COMMENCES 2011 FIELD PROGRAM AT NOYEM-NYAFOMAN GOLD PROJECT ...
2/24/2009(Cazula)ABANDONS CAZULA PROJECT IN MOZAMBIQUE TO FOCUS ON HIGHLY PRO...
2/5/2009(Okavango Kimberlite)Executes Contract for Core Drilling at Its Okavango Diamond ...
12/15/2008(Okavango Kimberlite)SAMPLING YIELDS G10 GARNETS AND OTHER KIMBERLITIC INDICATORS...
Corporate news of African Queen Mines Limited
7/26/201607/25/16 -DRILLING COMMENCES ON AFRICAN QUEEN’S YELLOWJACKET...
7/12/201607/11/16 -DR. REINHARD RAMDOHR TAKES REINS OF AFRICAN QUEEN’...
7/7/201607/06/16 -PLACER MINING OPERATIONS COMMENCE AT AFRICAN QUEEN...
6/28/201606/27/16 -AFRICAN QUEEN CLOSES $450,000 PRIVATE PLACEMENT
6/22/201606/21/16 -AFRICAN QUEEN CEO TO PRESENT AT RICHMOND CLUB LUNC...
6/18/201606/17/16 -AFRICAN QUEEN MINES EXPANDS LAND POSITION IN ATLIN...
6/1/201605/31/16 -AFRICAN QUEEN ANNOUNCES PRIVATE PLACEMENT
5/23/201605/20/16 -AFRICAN QUEEN MINES COMMENCES 2016 EXPLORATION PRO...
12/1/201511/17/15 -AFRICAN QUEEN MINES PRESENTING AT CHICAGO NATURAL ...
10/15/201510/14/15 -AFRICAN QUEEN MINES HIRES FIONNUALA DEVINE TO OVER...
10/8/201510/1/15 -AFRICAN QUEEN MINES ACQUIRES ADDITIONAL GROUND AT Y...
8/19/201508/05/15 - AFRICAN QUEEN MINES SIGNS FORMAL ASSET PURCHASE A...
8/19/201508/11/15 -AFRICAN QUEEN MINES COMPLETES ACQUISITION OF YELLO...
2/9/2015IIROC Trading Resumption - WOW.P; PEP; AQ; MTH; LBI.H
2/4/2015IIROC Trading Halt - AQ, CPP, PKS, SPF
8/8/2014IIROC Trading Resumption - AQ
4/4/2012SECURES DRILLER FOR ITS ODUNDU PROPERTY IN KENYA; MOBILIZATI...
3/31/2012CLOSES SECOND TRANCHE OF $2.417 MILLION PRIVATE PLACEMENT
3/17/2012CLOSES $1.7 MILLION FIRST TRANCHE OF PRIVATE PLACEMENT
6/2/2011JOIN AFRICAN QUEEN MINES AT THE 2011 WORLD RESOURCE INVESTME...
3/2/2011JOIN SACRE - COEUR & AFRICAN QUEEN MINES AT THE 2011 PDAC CO...
1/22/2011GHANA MINISTRY CONSENTS TO TRANSFER OF NOYEM LICENSE FROM NE...
2/21/2009ACCELERATING WORK PROGRAM ON KEY GOLD TARGET
2/13/2009AMENDS STOCK OPTION PLAN
1/24/2009ENGAGES CARRIE HOWES FOR INVESTOR RELATIONS TEAM
1/8/2009shifts to gems
12/27/2008Abandons Braganza Gold Project in Mozambique to Focus on Pri...
12/17/2008COMMENCES TRADING ON THE FRANKFURT STOCK EXCHANGE
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