GROUND GEOPHYSICS SURVEY UNDERWAY AT AFRICAN QUEEN’S RONGO GOLD FIELDS PROJECT IN KENYA’S LAKE VICTORIA GREENSTONE BELT
Vancouver, British Columbia — AFRICAN QUEEN MINES LTD. (the “Company”)is pleased to announce that work is now underway on a ground geophysics survey at its Rongo Gold Fields Project (the “Project”), which covers an area of approximately 112 sq. km in the Kanango gold mining area of the Migori District of Nyanza Province in Southwest Kenya near Lake Victoria. The Project is situated some 380 km. by road from the capital city of Nairobi and 60 km. N of the border with Tanzania, forming part of the rich Lake Victoria Greenstone Belt extending from Tanzania and hosting known world-class gold deposits including African Barrick Gold’s Bulyanhulu and North Mara Mines, within approximately 100 km. of the Project, and AngloGold Ashanti’s Geita Mine.
The ground geophysics survey is designed to assist in targeting an upcoming core drilling program over the Project area which is scheduled to commence as soon as practicable this year. The survey is a 3D Resistivity/Induced Polarization survey of key targets comprised of 5 lines measuring in total 3,375 linear meters. The survey is being carried out on behalf of the Company by Akili Minerals Services Ltd., a Kenyan company, and will be completed within 30 days. The objective of the survey is to assist in drill targeting by further delineating the sulfide rich zone which has been already identified by a ground magnetic survey and field exploration including termite-mound soil analysis revealing gold content as high as 669 ppb. Structurally, the target area is located within a shear/fault system. Small-scale miners have been actively mining gold bearing veins in and around the Project area for months.
The Company’s rights to the Project arise from an Earn-In and Joint Venture Agreement with Kenyan-based Abba Mining Company (“Abba”), under which the Company may earn up to an 85% interest in the Project by funding prescribed optional stages from exploration through feasibility. The Company is designated as manager and operator of the Project on behalf of the joint venture partners. The Project is being managed on behalf of the Company by Senior Consulting Geologist Mr. Pete Siegfried (M.Sc., MAusIMM), a qualified person.
A 15 sq. km portion of Abba’s 112 sq. km license for the Project is presently the subject of a dispute with B & M Mining Company which is being litigated in the High Court of Kenya in Kisumu. (See the Company’s Press Release dated March 31, 2011). The Company anticipates a favorable outcome for Abba from such litigation but in any event has identified highly prospective targets outside of the disputed area.
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.