AFRICAN QUEEN RECEIVES 43-101 REPORT ON KING SOLOMON GOLD PROJECT
Vancouver, British Columbia — AFRICAN QUEEN MINES LTD. (the “Company”) ”) is pleased to announce that it has now received the initial Technical Report in accordance with N.I. 43-101 on its King Solomon Gold Project in Mozambique (the “Report”). The Report was independently prepared by PAC Geological Consulting Inc. of Vancouver.
The Report contains a detailed overview of the history, geology and prior work programs on the Project, concluding that it is a property of merit and recommending a 3000 m reconnaissance diamond drilling program covering a number of key targets. The recommended work program comprises a first phase of 2000 m drilling together with induced polarization ground geophysics, related laboratory and other exploratory work, with a second phase of 1000 additional m of follow-up drilling on a result contingent basis. Preparations are now underway to commence the initial 2000 m drilling as soon as practicable in April with the easing of the rainy season.
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, with Swiss-based Opti Metal Trading Limited (“Optimetal”), covering exploration, development and exploitation of Prospecting License No. 884L presently held by Optimetal’s Mozambique subsidiary (the “License”). The License covers an area of approximately 230 sq km in the center of the Fingoe Belt, adjacent to a permit covering 150 sq km which is the subject of a separate Agreement between the Company and African Eagle Resources plc (AIM: AFE).
The Report has been filed on SEDAR and may be viewed at www.sedar.com or on the Company’s website, www.africanqueenmines.com.
About African Queen
The Company is an exploratory resource company with diversified mineral properties in Southern and West Africa. It is exploring its properties in Mozambique and Ghana for gold and other metals and it is exploring its properties in Botswana and Namibia for diamonds. The Company’s licenses in Botswana and Namibia comprise approximately 9208 sq km of diamond prospects. In Mozambique it has approximately 380 sq km of gold and other metals licenses 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.; its 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. 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.