AFRICAN QUEEN ADDS FURTHER ATLIN DISTRICT MINERAL TENURES COVERING THE HISTORIC PICTOU AND GOLDEN VIEW SHOWINGS
Vancouver, British Columbia — AFRICAN QUEEN MINES LTD. (the “Company”)is pleased to announce that it has acquired mineral claim 1030439 covering approximately 704.92 hectares known as the Pictou Property situated on benchlands near the town of Atlin on the northwest side of Pine Creek, as well as two other mineral claims 389658 and 389660, covering 500 hectares each, on the south side of Spruce Creek covering the Little Spruce Creek drainage and Union Mountain. The Company now controls 51 mineral claims, 3 placer claims and one placer lease covering an aggregate of 291.54 km2 of strategic ground in the historically significant placer mining areas associated with many of the major creeks in the Atlin District. The preponderance of its tenures is comprised of mineral claims covering structural trends within lithologies favourable for hosting hard rock gold deposits.
The Pictou property was discovered in 1900 and was the subject of historical mining. It has an old 20 m shaft and 7 m adit and is characterized by gold-silver bearing quartz veins and breccia zones within the Cache Creek Complex. Mineralization is hosted in tectonically dismembered ophiolitic assemblage of rocks dominated by listwanite altered ultramafic and meta-igneous units associated with the Monarch Mountain Thrust Fault. Previous exploration on the property was conducted in 1987-1988 by Homestake Mineral Development Corp. Homestake exposed 400 m2 of the “Main Showing”, where numerous grab samples from thin veins returned values of 15 to 60 g/t gold and 200 to 450 g/t silver. The best channel sample result from the detailed sampling program was 14.3 g/t gold over 2 m (BC Assessment Report #17543)*.
The Union Mountain claims also have a history of mining and contain adits dating back to 1912 when exploration was underway to discover the source of the rich Spruce Creek placer gold. Historic chip sampling (1950), returned 17.83 g/t gold and 26.06 g/t silver over 23 centimetres (BC Minfile #104N 042)*.
*NOTE: The results reported for Pictou and Golden View are historic in nature and have not been verified by the Company. As part of the next phase of exploration work, sampling of these historic showings will be done in order to confirm or disprove historically reported values.
Management views these three claims as prospective exploration targets. The claims were acquired from an individual who has retained a customary 1% NSR.
According to Irwin Olian, CEO of the Company, “The acquisitions of the Pictou Property and Union Mountain Claims further advance our package of mineral tenures in the Atlin District and provide us with a highly prospective package offering the potential for one or more major gold discoveries.”
Linda Dandy, P.Geo., a Qualified Person within the meaning of N.I. 43-101, is providing on site supervision and guidance at the Project and has reviewed and approved the contents of this press release. She previously oversaw exploration activities on the project for a predecessor operator. Overall project leadership at Yellowjacket is being provided by Dr. Reinhard Ramdohr.
The Company is an exploratory resource company engaged in exploration and development of mineral properties in Canada and Africa. It is presently focusing on development of its Yellowjacket Gold Project in Atlin, British Columbia, which covers an aggregate of approximately 291.54 km2. The Company has its executive offices in Vancouver, Canada. The Company was incorporated under the laws of the Province of British Columbia, Canada, on April 30, 2008, and received certain southern African assets in a spin off transaction related to the acquisition of Pan African Mining Corp. by Asia Thai Mining Co., Ltd.
We seek Safe Harbor.
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
Germany - +49 (0) 21141 740411
U.K. - +44 (0) 870 490 5443
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.