AFRICAN QUEEN GRANTED PROSPECTING LICENSE FOR NEW KARAMERI METALS PROJECT IN KENYA
Vancouver, British Columbia — AFRICAN QUEEN MINES LTD. (the “Company”) is pleased to announce that its Kenyan operating subsidiary, AQ Kenya Gold Limited (“AQKGL”), has now been granted Special License No. 307 (the “License”) by the Commissioner of Mines and Geology of the Government of the Republic of Kenya (the “Commissioner”). The License grants full and exclusive rights to AQKGL to prospect and explore for copper, gold, nickel and iron ore for an initial period of two years within an area of approximately 850 sq. km. known as Karameri in the West Pokot District in Western Kenya near the border with Uganda (the “License Area”). The License Area is approximately 240 km. N of the city of Kisumu, where AQKGL maintains its principal base of operations and manages its joint ventures for the Rongo Gold Fields and Ugunja Projects which are also in the region.
The License Area is highly prospective for copper, gold, iron ore and nickel, with numerous occurrences of copper, gold and iron ore having been observed as well as artisanal gold workings. It is largely underexplored, with the last known comprehensive exploration work having been conducted during the 1930’s by Walsh and others working for the Geological Survey. The nature and extent of the mineral occurrences suggests a complex regional system may be at play with the potential to host economic mineralization. The general association of gold, copper and iron is deemed to be significant and potentially suggests a mineralization model associated with iron-oxide-copper-gold (IOCG) enriched rocks which will be investigated through the Company’s upcoming exploration program on the License.
The License Area appears generally to be underlain by high-grade paragneisses of indeterminate age. Recent research in the records of the Geological Survey of Uganda suggest that these rocks are probably of Meso- or Neoproterozoic age rather than the ‘basement’ or Archaean lithologies previously noted in old reports. At present the Company is exploring its King Solomon Project in Mozambique, where similar rock types are observed, and it is suggested that the lithologies in this part of Kenya may be of a similar age and nature. Part of the Company’s early exploration program will therefore involve the detailed mapping and dating of these rocks in order to put them within a proper tectono-stratigraphic context.
The Phase 1 Exploration Program for the License Area is presently being planned and will be commenced after receipt of all requisite work and environmental permits. AQKGL has been well-received in the area on initial field visits and the Company continues to build a positive working relationship with the Commissioner and the Directorate of Mines of Kenya. The Karameri Metals Project is being managed on behalf of the Company by Senior Consulting Geologist Mr. Pete Siegfried (M.Sc., MAusIMM), a qualified person.
According to Irwin Olian, CEO of the Company, “We are very gratified to have been granted the Karameri License by the Commissioner. This allows us to expand our gold and metals exploration efforts in Western Kenya. We are now working on three properties in the region out of our Kisumu headquarters and are striving to create a success for all concerned through well-conceived and funded programs carried out to the highest professional standards.”
The Company is an exploratory resource company with diversified mineral properties in Southern and West Africa. It is exploring its properties in Mozambique, Kenya and Ghana for gold and other metals and it is undertaking exploration in Botswana and Namibia for diamonds, gold and other metals. The Company’s licenses in Botswana comprise approximately 2890 sq km of diamond prospects. In Mozambique it has approximately 230 sq km of gold and other metals licenses under an agreement with another company. 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. 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. Its operations in Kenya are being carried out through its operating subsidiary AQ Kenya 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
Dubai - +971 55 997 0427
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.