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African Queen Mines Limited

Publié le 19 janvier 2012

SECURES DRILLER FOR NOYEM-NYANFOMAN PROJECT

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Mots clés associés :   Botswana | Canada | Ghana | Kenya | Mozambique |
African Queen Mines Ltd.

African Queen Mines Ltd.
Suite 1450, Box 11553
650 West Georgia Street
Vancouver, BC
V6B 4N8

FOR IMMEDIATE RELEASE

 

January 19, 2012                                                                       

                                                                                                                         TSX.V: AQ

                                                                                                                   Frankfurt: QM0

 

AFRICAN QUEEN SECURES DRILLER FOR NOYEM-NYANFOMAN PROJECT ON GHANA'S ASHANTI BELT; FEBRUARY START DATE SET

 

Vancouver, British Columbia - AFRICAN QUEEN MINES LTD. (the "Company") is pleased to announce that it has now executed a formal agreement with E-Drilling Ghana Limited and E. Global Drilling Corp., affiliated with Energold Drilling Corp. (TSX.V: EGD), to undertake a core drilling program at its Noyem-Nyanfoman Project on Ghana's Ashanti Belt.  Mobilization is to be commenced prior to the end of January, with drilling slated to start in mid-February. An initial 2000 m program is contemplated with further meterage to be added by the Company on a result contingent basis.  The drill program will be overseen by the Company's senior technical team and by personnel from consulting firm Remote Exploration Services of Cape Town, S.A.

 

The initial holes are planned to range generally from 100 to 200 m in depth, with a view toward: (i) testing and confirming the gold mineralization previously discovered and announced by predecessors of Newmont Mining Corp. on the Noyem A reef on the eastern portion of the concession, where an historic inferred gold resource of approximately 1.1 million oz. au (5.2 million tonnes grading 6.67 g/t au) was established down to a depth of 550 m within reefs of the Tarkwaian conglomerates through exploration including a prior core drilling program during 1996-1997, by Bonsai Gold Holdings (see our PR dated October 19, 2009); and (ii) testing new targets elsewhere on the license area developed through the Company's own exploration programs over the past 24 months.

 

According to Irwin Olian, CEO of the Company, "After many months of exploratory work and protracted negotiations with the local community and small scale miners, we are delighted to be able to move forward now with drilling at the Noyem-Nyanfoman Project.  We view this as a unique opportunity to build value for our shareholders and joint venture partner, Akan Exploration, as well as the local community.  Our hope is that our drilling and exploration efforts will lead to development of a successful commercial mining operation that will contribute significantly to the economic growth of the region as well as the well-being and prosperity of the local community and Nyanfoman people."

 

The Noyem-Nyanfoman Gold Project.  The License currently covers an area of approximately 28.9 sq. km. located within the Birim North District of Ghana's Eastern Region, approximately 130 km. NW of Accra.  It is at the northeastern end of Ghana's well-known, gold-producing Ashanti Belt, near Newmont's Akyem deposit which is presently under development for production with a stated resource in excess of 8 Million oz Au.  In addition to its close proximity to Accra which facilitates access, the Project is bisected in a NE-SW direction by a tarred road.  It has long been host to large numbers of artisanal miners.

 

The Akan Agreement. The Company's rights to the Project are subject to an Earn-In and Joint Venture Agreement (the "Akan Agreement"), with Marshall Islands' private company Akan Exploration Ltd. ("Akan"), under which the Company may earn up to a 75% interest in the Noyem Gold Project by funding prescribed stages from exploration through feasibility.  Akan has the right to participate at its election pro-rata after the Company has reached 60% ownership interest.  The Company is designated as manager and operator of the Project.

 

 

About African-Queen

 

The Company is an exploratory resource company with diversified mineral properties in Southern, East and West Africa. It 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. In Mozambique the Company has approximately 230 sq. km. under license for gold and metals under an agreement with another company. In Ghana it has 28.9 sq. km. under license for gold. In Kenya it has approximately 850 sq. km. under license for gold and metals, and a further 737 sq. km. of gold and other minerals licenses under agreements with two other companies. The Company's operations in Mozambique are carried out through its subsidiary PAM Mocambique Limitada and its operations in Ghana are carried out through its subsidiary AQ Ghana Gold Limited. Its operations in Kenya are being carried out through its operating subsidiary AQ Kenya Gold Limited.  Its operations in Botswana are carried out through its operating subsidiary, PAM Botswana (Pty) Ltd.; its operations in Namibia are carried out through its operating subsidiary PAM Minerals Namibia (Pty) Ltd. 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: tigertail@africanqueenmines.com

Phone: (604) 899-0100

Fax: (604) 899-0200

Carrie Howes, Corporate Communications

Email: carrie@africanqueenmines.com

Phone: Germany - +49 (0) 21141 740411

U.K. - +44 (0) 870 490 5443

              Canada - +1 416 900 3634

 

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.



.
Données et statistiques pour les pays mentionnés : Botswana | Canada | Ghana | Kenya | Mozambique | Tous
Cours de l'or et de l'argent pour les pays mentionnés : Botswana | Canada | Ghana | Kenya | Mozambique | Tous

African Queen Mines Limited

EXPLORATEUR
CODE : AQ.V
ISIN : CA00830C1095
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African Queen est une société d’exploration minière d'or basée au Canada.

African Queen détient divers projets d'exploration au Botswana, au Mozambique et en Namibie.

Ses principaux projets en exploration sont KING SOLOMON et CAZULA au Mozambique, NOYEM NYAFOMAN au Ghana et OKAVANGO KIMBERLITE et TSAU KIMBERLITE au Botswana.

African Queen est cotée au Canada et en Allemagne. Sa capitalisation boursière aujourd'hui est 2,5 millions CA$ (2,0 millions US$, 1,6 millions €).

La valeur de son action a atteint son plus haut niveau récent le 08 octobre 2010 à 0,75 CA$, et son plus bas niveau récent le 11 septembre 2015 à 0,01 CA$.

African Queen possède 101 190 000 actions en circulation.

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Financements de African Queen Mines Limited
06/03/2012ANNOUNCES PRIVATE PLACEMENT
Nominations de African Queen Mines Limited
18/04/2012APPOINTS JENNIFER TODHUNTER AS NEW CFO AND DIRECTOR
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14/01/2013EXPLORATION LICENSE FOR AFRICAN QUEEN?S NOYEM-NYANFOMAN
13/11/2012INITIAL CORE DRILL RESULTS AT AFRICAN QUEEN?S NOYEM-NYAN
12/07/2012ENCOUNTERS BROAD ZONES OF MINERALIZATION AT
16/04/2012CORE DRILLING COMMENCES AT AFRICAN QUEEN?S ODUNDU PROPER
22/02/2012COMMENCES DRILLING AT NOYEM-NYANFOMAN GOLD P
19/02/2012FAVORABLE EXPLORATION RESULTS AT AFRICAN QUEEN?S ODUNDU
19/01/2012SECURES DRILLER FOR NOYEM-NYANFOMAN PROJECT
06/01/2012(King Solomon)REPORTS RESULTS FROM 2011 RECONNAISSANCE DRILL PROGRAM AT KI...
25/05/2011COMMENCES 2011 FIELD PROGRAM AT NOYEM-NYAFOMAN GOLD PROJECT ...
24/02/2009(Cazula)ABANDONS CAZULA PROJECT IN MOZAMBIQUE TO FOCUS ON HIGHLY PRO...
05/02/2009(Okavango Kimberlite)Executes Contract for Core Drilling at Its Okavango Diamond ...
15/12/2008(Okavango Kimberlite)SAMPLING YIELDS G10 GARNETS AND OTHER KIMBERLITIC INDICATORS...
Communiqués de Presse de African Queen Mines Limited
26/07/201607/25/16 -DRILLING COMMENCES ON AFRICAN QUEEN’S YELLOWJACKET...
12/07/201607/11/16 -DR. REINHARD RAMDOHR TAKES REINS OF AFRICAN QUEEN’...
07/07/201607/06/16 -PLACER MINING OPERATIONS COMMENCE AT AFRICAN QUEEN...
28/06/201606/27/16 -AFRICAN QUEEN CLOSES $450,000 PRIVATE PLACEMENT
22/06/201606/21/16 -AFRICAN QUEEN CEO TO PRESENT AT RICHMOND CLUB LUNC...
18/06/201606/17/16 -AFRICAN QUEEN MINES EXPANDS LAND POSITION IN ATLIN...
01/06/201605/31/16 -AFRICAN QUEEN ANNOUNCES PRIVATE PLACEMENT
23/05/201605/20/16 -AFRICAN QUEEN MINES COMMENCES 2016 EXPLORATION PRO...
01/12/201511/17/15 -AFRICAN QUEEN MINES PRESENTING AT CHICAGO NATURAL ...
15/10/201510/14/15 -AFRICAN QUEEN MINES HIRES FIONNUALA DEVINE TO OVER...
08/10/201510/1/15 -AFRICAN QUEEN MINES ACQUIRES ADDITIONAL GROUND AT Y...
19/08/201508/05/15 - AFRICAN QUEEN MINES SIGNS FORMAL ASSET PURCHASE A...
19/08/201508/11/15 -AFRICAN QUEEN MINES COMPLETES ACQUISITION OF YELLO...
09/02/2015IIROC Trading Resumption - WOW.P; PEP; AQ; MTH; LBI.H
04/02/2015IIROC Trading Halt - AQ, CPP, PKS, SPF
08/08/2014IIROC Trading Resumption - AQ
04/04/2012SECURES DRILLER FOR ITS ODUNDU PROPERTY IN KENYA; MOBILIZATI...
31/03/2012CLOSES SECOND TRANCHE OF $2.417 MILLION PRIVATE PLACEMENT
17/03/2012CLOSES $1.7 MILLION FIRST TRANCHE OF PRIVATE PLACEMENT
02/06/2011JOIN AFRICAN QUEEN MINES AT THE 2011 WORLD RESOURCE INVESTME...
02/03/2011JOIN SACRE - COEUR & AFRICAN QUEEN MINES AT THE 2011 PDAC CO...
22/01/2011GHANA MINISTRY CONSENTS TO TRANSFER OF NOYEM LICENSE FROM NE...
21/02/2009ACCELERATING WORK PROGRAM ON KEY GOLD TARGET
13/02/2009AMENDS STOCK OPTION PLAN
24/01/2009ENGAGES CARRIE HOWES FOR INVESTOR RELATIONS TEAM
08/01/2009shifts to gems
27/12/2008Abandons Braganza Gold Project in Mozambique to Focus on Pri...
17/12/2008COMMENCES TRADING ON THE FRANKFURT STOCK EXCHANGE
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