GEOPHYSICS DATA FROM GROUND MAGNETIC SURVEY AT KING SOLOMON GOLD PROJECT REVEAL STRONG ANOMALIES ASSOCIATED WITH PRIOR ROCK SAMPLES; CONFIRM POTENTIAL FOR HOSTING LARGE-SCALE MINERALISATION
Vancouver, British Columbia — AFRICAN QUEEN MINES LTD. (the “Company”) is pleased to announce that a ground magnetic survey covering an area of approximately 11 sq. km over its King Solomon Gold Project in Mozambique has now been successfully concluded. The data has been collected, processed and a detailed interpretation has been prepared by the Geophysics Division of Remote Exploration Services (“RES”) of Cape Town, S.A.. The high resolution ground magnetic survey utilizing 50 m line spacing was completed utilizing grids over the three most encouraging targets identified to date, namely the Mankombiti, Kazito and Eiland targets. The magnetic data strongly support the mapped geology and have revealed a marked coincidence between the anomalous zones delineated in the survey and the sampled areas reflected in prior strong rock sample results reported by the Company. RES modeled the anomalous zone at depth and concluded that the mineralized zone is essentially continuous at surface and appears to continue at depth.
These three target areas have revealed the most anomalous grab rock sample as well as gold in soil sample results, as well as exceptional anomalous base metal results (see Press Release dated October 14, 2009). The highest values obtained from any single sample reported therein were No. 038L: 12.75 g/t Au, 4.55 % Cu, and 255.5 ppm Ag. The King Solomon Project is located within the central parts of the Mesoproterozoic Fingoe Belt in western Tete Province, Mozambique. These rocks consist of metavolcanics, metasediments and intrusive granitic and gabbroic rocks. The license is the subject of the Earn-in and Joint Venture Agreement dated July 10, 2009 (the “Agreement”), with Swiss-based Opti Metal Trading Limited (“Optimetal”), covering exploration, development and exploitation of Prospecting License No. 884L held by Optimetal’s Mozambique subsidiary (the “License”). The License covers an area of approximately 230 km 2 in the center of the Fingoe Belt, adjacent to permits which are the subject of existing earn-in and joint venture Agreements between the Company and Manica Minerals Ltd. and African Eagle Resources plc (AIM: AFE), respectively, covering an aggregate of 1359 sq.km.
Recognition of an extensive skarn setting for the gold mineralization has encouraged the Company in its exploration efforts. Recent site visits by two independent geological consultants, including Dr. Peter Christopher of Vancouver who is preparing a Technical Report in accordance with N.I. 43-101, has supported this view while also demonstrating the additional importance of remobilization into structurally controlled shears.
The following briefly describes the three areas that were subject of the ground magnetic survey:
Mankombiti Prospect. This area forms a rugged, linear mountain and extensive pits and trenches as well as a number of deep shafts have been located along a fairly narrow contact zone between granites and metamorphosed carbonate rocks. Malachite, and in places chalcocite, bearing magnetite outcrops have been found and sampled along this zone. Gold in this zone is generally associated with base metal mineralization, including zinc, silver and bismuth, as previously reported. The magnetic survey importantly demonstrates continuity of dip towards the north and under the carbonate rocks, as well as extending the strike of the zone of mapped mineralization to over 4 km. This is well illustrated by the Analytical Signal (AS) image from the magnetic survey presented below.
Click to Diagram Enlarge
Diagram 1: Interpretation and Analytical Signal magnetic
image of the Mankombiti Target.
Kazito Prospect. Mapping of this area indicates that a number of malachite and tremolite-bearing, magnetite associated shear zones occur at or near the contact of a gabbro intrusive and calcite limestones. This contact zone can be mapped in the field for over 800 meters and the magnetic interpretation shows continuity of these zones below the overlying carbonate rocks. Additionally, a number of remnant magnetic bodies are identified which are regarded to be of potential importance for the location of further mineralisation.
Eiland Prospect. This zone is essentially a continuation of the Kazito area towards the north and again represents a mineralized contact with underlying gabbro sills. Sporadic shears are also identified and some of these sampled have revealed appreciable gold as previously reported.
Results of the magnetic survey, combined with previously sampled polymetallic mineralisation identified, suggests that further detailed mapping combined with sampling should identify higher grade ‘ore’ shoots with the potential to be uninterrupted with depth given the continuity expressed by the geophysical data. Further geophysical depth modeling of these zones is therefore now being completed. The geophysical survey has further allowed for confirmation of the lateral extent of the mapped mineralisation as well as the dip of the mineralized zones. All of the foregoing strongly support the proposed Phase 2 core drilling program now planned for early in 2010.
Work comprising the Phase 1 Exploration Program is being conducted by RES under the direction of C. Ocker on behalf of the joint venture partners. RES has been conducting field programs for the Company on the Fingoe Regional Gold Project from the initiation of the program in 2006. The Project is being managed on behalf of the Company by Senior Consulting Geologist Mr. Pete Siegfried (M.Sc., MAusIMM), a qualified person, who has reviewed and approved the contents of this Press Release.
According to Irwin Olian, CEO of the Company, “Results of the ground geophysics survey at the King Solomon Project are certainly proving to be consistent with the initial strong rock sample results reported, pointing to the potential presence of a large regional gold-bearing poylmetallic system. Our exploration work is continuing with a view toward commencing core drilling as soon as practicable in the New Year.”
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's licences in Botswana and Namibia comprise approximately 11,800 sq km of diamond prospects. In Mozambique it has approximately 1689 sq km of gold and other metals licences under agreements with three 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.