AFRICAN QUEEN'S FOLLOW-UP FIELD PROGRAM NOW UNDERWAY AT FINGOE GOLD PROJECT IN MOZAMBIQUE
Vancouver, British Columbia — AFRICAN QUEEN MINES LTD. (the “Company”) ”) is pleased to announce that follow-up field work is now underway on multiple targets at its Fingoe Gold Project in Tete province, Mozambique. The Company’s interests in the Fingoe Gold Project, which encompass 9 prospecting licenses comprising approximately 1359 sq. km. in aggregate, arise from an Earn-In Agreement with Manica Minerals Ltd. dated August 9, 2006, as supplemented August 8, 2007, under which the Company can earn up to an 85% interest, and an Agreement dated April 10, 2007, with African Eagle Resources plc (AIM: AFE) under which the Company now holds a 98% interest in certain prospecting licenses.
The objective of the 2009 field program is to identify structures within the region with potential to host commercial hard rock gold deposits and to select discreet targets for the Company’s upcoming reconnaissance core drilling program planned for the region.
Field work is largely focused on areas of the Fingoe Belt located to the north of Lake Cahorra Basa. Results from studies conducted over the last three years have indicated that gold in those areas is hosted within a bimodal, mixed volcanic, metasedimentary and granitic package of rocks of Mesoproterozoic age. The Fingoe area has an extensive history of artisinal production dating back at least 400 years and is considered to be significantly underexplored. Recent mapping and sampling by the Company has revealed that there is good potential for undiscovered hard rock gold mineralization in the region, and a number of highly anomalous rock sample results have already been reported (see previous Press Release dated February 20, 2009).
Geochemical data from all the soil grid target areas has now been received and reviewed, with some very encouraging results over a number of the areas identified. Pitting, trenching, detailed mapping and rock sampling over the following targets, with a view to identifying drill-ready targets before yearend, is planned for this initial part of the field season:
1. The Aliyele project area has been found to host a large east-west trending structure separating late stage granites from intensely deformed argillaceous and volcanoclastic metasediments. A number of rock and soil sample anomalies have been reported along this structure. Co-incident copper and gold values were identified and the planned work in this area will focus upon reconnaissance mapping and rock sampling of outcrop.
2. The Ashwa project area will be further soil sampled and trenched as the previously identified gold-in-soil sample anomalies were located on a single, discreet follow-up grid facilitating further evaluation.
3. Grid soil sampling in the Tambika project area has revealed two areas of anomalous gold in soil and these will be followed up with detailed mapping and trenching.
4. The Tsimbi project area is located to the east of the Ashwa area. A number of gold anomalies have been identified from the previous stream sampling surveys and will be followed up this season through the sampling of three detailed soil sample grids. At the end of 2008 a new access track was constructed in this area which will speed up field work considerably.
The Company’s exploration activities on the Fingoe Gold Project are under the guidance of Senior Consulting Geologist Pete Siegfried (M.Sc., MAusIMM), a Qualified Person. Field studies have been carried out on behalf of the Company by Remote Exploration Services of Cape Town, South Africa.
According to Irwin Olian, CEO of the Company, “We are excited about the opportunity now developing at the Fingoe Gold Project, as we have now identified a number of key
targets for follow-up in the greater regional project area. Our exploration team is now in the field and we expect to generate a number of highly prospective drill targets for our upcoming reconnaissance core drilling program in the region.”
The Company is an exploratory resource company with
diversified mineral properties in Southern Africa. It is exploring its properties in
Botswana and Namibia for diamonds, and it is exploring its properties in Mozambique
for gold and other metals. The Company licences in Botswana and Namibia comprise
approximately 11,800 sq km of diamond prospects. In Mozambique it has approximately
1350 sq km of gold and other metals licences under agreements with two other companies.
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.; and its operations in Mozambique are carried out through its
subsidiary PAM Mocambique Limitada.
The Company has its executive offices in Vancouver, Canada.
ON BEHALF OF THE BOARD OF DIRECTORS OF
AFRICAN QUEEN MINES, LTD.
Chairman & CEO
For more information, contact:
President and CEO
Phone: (604) 899-0100
Fax: (604) 899-0200
Düsseldorf +49 (0) 1722 1234 47
London - +44 (0) 7780 602 788
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.