Keegan Resources Inc.: Metallurgical Test Work Commences on New Flowsheet for Esaase Gold Project
Published : October 25, 2012
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Keywords :   Australia | Canada | Debt | Ghana | Gold | Gold Production | Market | Recovery |

VANCOUVER, BRITISHI COLUMBIA--(Marketwire - Oct. 25, 2012) - Keegan Resources Inc. (News - Market indicators)(NYSE MKT:KGN)(NYSE Amex:KGN) -

Highlights:

  • Metallurgical test work designed to optimize the flotation flowsheet will form an integral part of the current Pre-Feasibility Study
  • Test work will be completed on higher average grade material recently announced in the upgraded resource statement
  • Test work designed to substantially reduce project design and operational risks
  • Test work to confirm earlier metallurgical work which indicated high gold recoveries, substantially lower up front capital and significant environmental advantages

Keegan Resources Inc. ("Keegan" or the "Company") is pleased to announce that an integrated metallurgical test work program on the new Esaase flowsheet has commenced at Amdel Mineral Laboratories, Perth, Western Australia. The results from this program are integral to the final metallurgical design input parameters that will be needed for the completion of the recently commenced Pre-Feasibility Study ("PFS"). The PFS is due for completion in the first quarter of 2013.

Keegan has issued a number technical News Releases in the past two months. The first related to the re-examination of the development options for the Esaase gold project (refer to Keegan News Release dated September 6, 2012). This release described a new flowsheet using flotation technology resulting in lower capital costs and environmental advantages. The second release reported a substantially upgraded Mineral Resource Estimate ("MRE") which showed a 57% increase in the Esaase gold grades whilst increasing Measured and Indicated gold ounces by 5% (refer Keegan News Release dated October 10, 2012).

Based on these releases Keegan has now embarked on an extensive metallurgical testing program at Amdel Mineral Laboratories designed to confirm the following:

  • Earlier and extensive metallurgical test work showed that the Esaase ore body is amenable to recovery via the use of flotation.
  • Examination of those results showed that this flowsheet could be further optimised through grind optimization tests, free gold recovery, flotation reagents suites and residence time in the float and leach plants.
  • Having recently upgraded the MRE it is clear that the expected float results could improve as the Esaase gold grades are now considerably higher than previously modelled.
  • Extensive tailings characterisation tests will also be completed on the Esaase material. The new flowsheet should improve environmental impacts for the project.
  • Part of this program will re-evaluate the CIL flowsheet from previous work completed by Keegan.
  • The sample being used for this test program closely resembles the mine plan for the first four to five years of production and includes weathered, transition and fresh ore.

The integrated metallurgical test work program has been designed to run for the next 12 weeks and should be completed early in 2013, well in time for the scheduled completion of the on-going PFS.

On Behalf of the Board of Directors,

Peter Breese, President & Chief Executive Officer 

About Keegan Resources Inc.

Keegan is a gold development company focussing on near term gold production at its high grade multi-million ounce Esaase gold project in Ghana. The Company offers investors the opportunity to share ownership in the rapid exploration and development of high quality pure gold assets. Keegan is focused on its wholly owned flagship Esaase gold project (3.83 million ounces of gold in the Measured and Indicated category with an average grade of 1.73 g/t Au and 1.25 million ounces of gold in the Inferred category at an average grade of 1.75 g/t Au, based on a 0.8 g/t Au cut-off) located in Ghana, West Africa; a highly favourable and prospective jurisdiction. Managed by highly skilled and successful technical and financial professionals, the Company 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 neighbouring communities.

Keegan trades on the TSX and the NYSE MKT under the symbol KGN.

More information about Keegan is available at www.keeganresources.com.

Forward Looking and other Cautionary Information

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 estimated resource quantities, grades and contained metals, possible future mining, exploration and development activities, are forward-looking statements. Although the Company believes the forward-looking statements are based on reasonable assumptions, such statements should not be in any way construed as 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 for metals, the conclusions of detailed feasibility and technical analyses, lower than expected grades and quantities of resources, mining rates and recovery rates and the lack of availability of necessary capital, which may not be available to the Company on terms acceptable to it or at all. The Company is subject to the specific risks inherent in the mining business as well as general economic and business conditions. For more information on the Company, Investors should review the Company's annual Form 20-F filing with the United States Securities Commission and its home jurisdiction filings that are available at www.sedar.com.

Neither Toronto Stock Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

Keegan Resources Inc.
1.604.683.8193 or Toll Free: 1.800.863.8655
1.604.683.8194 (FAX)
info@keeganresources.com
www.keeganresources.com
Data and Statistics for these countries : Australia | Canada | Ghana | All
Gold and Silver Prices for these countries : Australia | Canada | Ghana | All

Keegan Resources Inc.

EXPLORATION STAGE
CODE : KGN.TO
ISIN : CA4872751090
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Keegan Res. is a gold exploration company based in Canada.

Keegan Res. holds various exploration projects in Ghana.

Its main exploration properties are ESAASE and ASAMURA in Ghana.

Keegan Res. is listed in Canada and in United States of America. Its market capitalisation is CA$ 649.9 millions as of today (US$ 595.3 millions, € 445.6 millions).

Its stock quote reached its lowest recent point on January 23, 2009 at CA$ 1.06, and its highest recent level on September 16, 2011 at CA$ 9.59.

Keegan Res. has 201 830 000 shares outstanding.

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Annual reports of Keegan Resources Inc.
2009 Annual Report
Financings of Keegan Resources Inc.
2/17/2011Closes $213 Million Common Share Offering
11/5/2007ANNOUNCES $12.3 MILLION "BOUGHT DEAL" PRIVATE PLACEMENT FOR ...
Nominations of Keegan Resources Inc.
4/30/2013Asanko Gold Further Strengthens its Management Team with the...
5/3/2012Appoints Robert Sali to Board of Directors
1/30/2012Appoints Shawn Wallace as CEO
3/22/2011Nomination of Greg McCunn as CFO and Andrea Zaradic P.Eng as...
8/20/2008KEEGAN ANNOUNCES APPOINTMENT OF ENVIRONMENTAL MANAGER AND PR...
Project news of Keegan Resources Inc.
2/19/2013(Esaase)Remains on Track to Deliver Esaase Gold Project Under New Na...
10/31/2012(Esaase)Announces Further Strengthening of Technical Team as it Prep...
10/25/2012(Esaase)Metallurgical Test Work Commences on New Flowsheet for Esaas...
10/15/2012(Esaase)Welcomes Highland Park Group as Strategic Investor and Recr...
9/6/2012(Esaase)Provides Esaase Project Review Update
12/1/2011(Esaase)Adds an Additional Concession to the Esaase Gold Project
8/3/2011(Esaase)More Than Doubles Size of Esaase Gold Project Regional Prope...
2/22/2011(Esaase)Acquires Additional Ground at the Esaase Gold Project and Pr...
1/22/2011(Esaase)Continues to Expand Mineralization Zones in Step Out Drillin...
7/10/2009(Esaase)Hires engineer to lead esaase gold project development
2/27/2009(Esaase)World Class Gold Deposit Confirmed at Keegan's Esaase Gold P...
12/16/2008(Esaase)PROVIDES PROJECT UPDATES FOR GHANIAN GOLD PROJECTS
9/11/2008(Esaase)IDENTIFIES DRILL TARGETS OVER 10 KM IN STRIKE LENGTH USING G...
9/5/2008(Esaase)REPORTS EXCELLENT RESULTS FROM DRILLING TO NORTH OF ESAASE G...
7/9/2008(Esaase)Drills 12 Meters of 11.6 g/t and 25 Meters of 4.03 g/t Gold ...
5/28/2008(Esaase)KEEGAN HITS EXCELLENT GOLD GRADES ON STEPOUT HOLES AT ESAASE...
5/14/2008(Asamura) HITS DISCOVERY HOLE IN NW STRUCTURE AT ASUMURA GOLD PROJECT
4/1/2008(Asamura)TRIPLES ASUMURA GOLD PROJECT WITH ACQUISITION OF CONTIGUOUS ...
3/27/2008(Esaase) TRIPLES ESAASE LAND PACKAGE WITH ACQUISITION OF SOUTHWEST A...
2/19/2008(Esaase)DRILLING DISCOVERS NEW PARALLEL GOLD STRUCTURE AT ESAASE GOL...
2/11/2008(Esaase)ESAASE GOLD PROJECT INFILL DRILLING PROGRAM CONTINUES TO RET...
2/5/2008(Esaase) ESAASE GOLD PROJECT STEPOUT DRILLHOLES CONTINUE TO EXPAND D...
1/16/2008(Esaase) ADDS SECOND DRILL TO RAPIDLY ADVANCE ESAASE GOLD PROJECT
8/21/2007(Esaase)Drills 186m of 1.12 g/t, 102m of 1.01 g/t, and 7m of 4.83 g/...
5/17/2007(Esaase)RESOURCE DRILLING PROGRAM CONTINUES TO RAPIDLY EXPAND MAIN G...
4/11/2007(Asamura) Identifies Large IP Anomalies at Asumura Gold Project
Corporate news of Keegan Resources Inc.
2/21/2013Announces Significant Gold Recovery Improvements from Recent...
2/18/2013PMI Gold Corporation: PMI and Keegan Agree to Terminate Merg...
1/24/2013PMI and Keegan Mail Joint Information Circular in Connection...
1/18/2013PMI And Keegan Announce Interim Order For Merger Of Equals
11/5/2012Closes Non-Brokered Private Placement with Highland Park
10/15/2012Welcomes Highland Park Group as Strategic Investor and Recru...
10/10/2012(Esaase)Provides Revised Resource Estimate For Esaase Gold Project
9/17/2012HAS A NEW LOOK!
2/22/2012(Esaase)Continues to Encounter Significant Gold Intercepts at its Es...
2/14/2012Drills 48 Metres of 2.01 g/t Gold at the Newly Acquired Bilp...
11/25/2011Settles Majority Interest of Ghanaian Lawsuit
9/30/2011Featured on BNN's Commodities Show
9/22/2011(Esaase)ANNOUNCES POSITIVE PRE-FEASIBILITY STUDY AND FIRST MINERAL R...
9/21/2011to Make Minor Amendments to Option Plan
6/2/2011Continues to Encounter Significant Gold Intercepts in Resour...
11/28/2007COMPLETES $13.5 MILLION FINANCING
10/17/2007 Extends Mangoase Target Area to 16 km in Length and Finds G...
10/1/2007Drills 23M of 2.93 g/t and 46M of 1.56 g/t AU in Step-out Dr...
9/6/2007Drills 36M of 2.5 g/t, 44M of 2.18 g/t, and 16M of 3.63 g/t ...
7/24/2007Preliminary Metallurgical Study Indicates Good Gold Recovery...
6/14/2007Renegotiates and Completes Early Acquisition of Full Private...
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