News & Articles >AFRICAN QUEEN MINES CONCLUDES NEW AGREEMENTS FOR PLACER MINING OPERATIONS AT YELLOWJACKET GOLD MINE THIS SEASON
News & Articles

February 16, 2017

AFRICAN QUEEN MINES CONCLUDES NEW AGREEMENTS FOR PLACER MINING OPERATIONS AT YELLOWJACKET GOLD MINE THIS SEASON

Vancouver, British Columbia — AFRICAN QUEEN MINES LTD. (the “Company”)is pleased to announce that it has now concluded new placer mining agreements (the “Agreements”) with two separate third parties, Mr. Lenard Diduck of Atlin, B.C. and his affiliates (collectively, “Diduck”) and Mr. Matt Norris of Delta, B.C. and his affiliates (collectively, “Norris”). The Agreements cover placer mining operations by such parties on the Company’s Placer Lease 361733, Placer Claim 350665 and Placer Claim 379882 (collectively, the “Company’s Placer Interest”). The Company’s Placer Interest covers an aggregate area of approximately 466.15 hectares in the historic Pine Creek Valley at the Company’s Yellowjacket Gold Project (the Project”), which now encompasses approximately 291.54 sq.km. of strategic ground 9 km East of Atlin, B.C. The Pine Creek Valley has been the site of continuing mining operations for over a century.

Placer operations under the Agreements are anticipated to commence on site in or about May, 2017, commencing with exploration and test mining. Operations are planned to expand on a result contingent basis. The Company is retaining all rights to explore, develop and exploit the hard-rock gold deposits at the Project, which have also been the subject of prior mining operations and yielded bonanza-grade drill results in the past. The aggregate investment in the Project to date by predecessors is in the range of $20 Million.

The Agreement with Norris is a two-year deal with an Initial Term of one year for 2017 and an option for a second year for 2018. It covers an area designated as the “Eastern Placer Zone,” which basically represents that portion of the Company’s Placer Interest to the East of the Yellowjacket Mine access road. The Company is to be paid a 10 Percent Gross Royalty on all gold produced by Norris on a monthly basis and Norris is responsible for paying all costs of his mining operations, including permitting, environmental compliance and remediation, operations, etc. Norris’ operations are confined to the placer deposits on the Eastern Placer Zone and may not intrude further than one metre into the bedrock.

Norris operated in 2016 on the Company’s Placer Interest under an Agreement dated November 1, 2015. The new agreement with Norris supersedes and replaces said Agreement. He undertook exploration and limited test mining activities on site during the 2016 season.

Norris is a highly experienced professional contractor in the mining exploration industry, who has conducted successful placer mining operations in the past and has considerable familiarity with the Atlin, B.C. area. He has owned and managed three successful drilling companies providing contract drilling services across Canada as well as being the first western driller to set up operations in Mongolia. He recently set up and managed a successful placer gold mining operation in the Amaar region of Tov Province, approximately 210 km. from Ulan Bator, Mongolia.

The Agreement with Diduck is a five-year deal with an Initial Term of one year for 2017 and four successive one-year options. Exercise of each subsequent option is contingent on meeting certain production and/or payment thresholds during the prior production year. It covers an area designated as the “Western Placer Zone” which basically represents that portion of the Company’s Placer Interest which is to the West of the Yellowjacket Mine access road. The Company is to be paid a 10 Percent Gross Royalty on gold produced by Diduck (7.5% for gold produced solely from tailings) on a monthly basis and Diduck is responsible for paying all costs of his mining operations, including permitting, environmental compliance and remediation, operations, etc. Diduck’s operations are confined to the placer deposits on the Western Placer Zone and may not intrude further than one metre into the bedrock.

Diduck is a highly experienced miner with extensive placer mining experience in the Atlin, B.C. area covering nearly four decades. He is a full time resident of Atlin, where he has resided for the past 25 years. He has been placer mining since he was 12 years old and also has worked on hard-rock properties, including serving as a hard-rock consultant to companies in Honduras and Nicaragua. From 1991 to 2005, Diduck owned and developed the Yellowjacket Gold Project. As such, he brings a wealth of knowledge and experience to the Company concerning our flagship property.

According to Irwin Olian, CEO of the Company, “We are very gratified to be working with Lenard Diduck and Matt Norris on the placer mining deposits at Yellowjacket. Their knowledge and experience will be invaluable in advancing the Project, both from the standpoint of generating cash flow to the Company from placer mining as well as assisting in our hard-rock exploration efforts through a continual dialogue and sharing of information from their placer findings. We are looking forward to working with both of them this season.”

About African-Queen

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.

“Irwin Olian”
Irwin Olian
Chairman & CEO

For more information, contact:

Irwin Olian
President and CEO
E-mail: tigertail@africanqueenmines.com
Phone: (604) 899-0100
Fax: (604) 899-0200

Carrie Howes
Corporate Communications
Email: carrie@africanqueenmines.com
Phone:
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.

 

Press Release Archive
08/14/17 - AFRICAN QUEEN MINES RECEIVES MINES ACT PERMIT FOR FURTHER EXPLORATION AND DRILLING AT YELLOWJACKET GOLD PROJECT 06/12/17 - AFRICAN QUEEN CLOSES $601,220 PRIVATE PLACEMENT 05/17/17 - AFRICAN QUEEN ANNOUNCES PRIVATE PLACEMENTS 05/09/17 - AFRICAN QUEEN MINES COMMENCES 2017 WORK PROGRAM AT ITS YELLOWJACKET GOLD PROJECT 02/16/17 - AFRICAN QUEEN MINES CONCLUDES NEW AGREEMENTS FOR PLACER MINING OPERATIONS AT YELLOWJACKET GOLD MINE THIS SEASON 02/01/17 - B.C. GEOLOGICAL SURVEY REPORTS NEW LODE GOLD DISCOVERY IN ATLIN DISTRICT; AFRICAN QUEEN SEES THE REPORT AS VALIDATING ITS PROPERTY ACQUISITION AND EXPLORATION PROGRAMS 01/18/17 - AFRICAN QUEEN ADDS FURTHER ATLIN DISTRICT MINERAL TENURES COVERING THE HISTORIC PICTOU AND GOLDEN VIEW SHOWINGS 12/23/16 - AFRICAN QUEEN MINES CLOSES $252,000 PRIVATE PLACEMENT 10/05/16 -AFRICAN QUEEN ACHIEVES IMPORTANT ADVANCES IN ITS YELLOWJACKET GOLD PROJECT DURING SUMMER 2016 WORK PROGRAM 09/28/16 -INITIAL DIAMOND DRILLING BY AFRICAN QUEEN AT YELLOWJACKET GOLD PROJECT CONFIRMS DOWN-DIP CONTINUATION OF GOLD MINERALIZED ZONE; RESULTS INCLUDE 37.1 G/T AU OVER 1.08 M 09/21/16 -AFRICAN QUEEN ADDS MINERAL TENURES COVERING TWO FURTHER KEY AREAS IN ATLIN DISTRICT 09/06/16 -AFRICAN QUEEN FURTHER EXPANDS LAND POSITION SOUTH OF YELLOWJACKET GOLD PROJECT 07/25/16 -DRILLING COMMENCES ON AFRICAN QUEEN’S YELLOWJACKET GOLD PROJECT 07/11/16 -DR. REINHARD RAMDOHR TAKES REINS OF AFRICAN QUEEN’S YELLOWJACKET GOLD PROJECT 07/06/16 -PLACER MINING OPERATIONS COMMENCE AT AFRICAN QUEEN’S YELLOWJACKET GOLD PROJECT 06/27/16 -AFRICAN QUEEN CLOSES $450,000 PRIVATE PLACEMENT 06/21/16 -AFRICAN QUEEN CEO TO PRESENT AT RICHMOND CLUB LUNCHEON ON JUNE 22, 2016 06/17/16 -AFRICAN QUEEN MINES EXPANDS LAND POSITION IN ATLIN DISTRICT WITH STRATEGIC CLAIMS ACQUISITION 05/31/16 -AFRICAN QUEEN ANNOUNCES PRIVATE PLACEMENT 05/20/16 -AFRICAN QUEEN MINES COMMENCES 2016 EXPLORATION PROGRAM AT YELLOWJACKET GOLD PROJECT WITH DRONE AERIAL SURVEY  02/16/16 -AFRICAN QUEEN MINES CONCLUDES AGREEMENT WITH NORRIS FOR PLACER MINING OPERATIONS AT YELLOWJACKET GOLD MINE 12/8/15 -AFRICAN QUEEN DROPS KENYAN OPERATIONS INCLUDING ODUNDU PROJECT 11/17/15 -AFRICAN QUEEN MINES PRESENTING AT CHICAGO NATURAL RESOURCE AND TECHNOLOGY EXPO ON NOVEMBER 20, 2015 10/22/15 -AFRICAN QUEEN MINES RECIEVES MINING PERMIT FOR YELLOWJACKET GOLD PROJECT 10/14/15 -AFRICAN QUEEN MINES HIRES FIONNUALA DEVINE TO OVERSEE YELLOWJACKET GOLD PROJECT 10/1/15 -AFRICAN QUEEN MINES ACQUIRES ADDITIONAL GROUND AT YELLOWJACKET GOLD PROJECT IN BRITISH COLUMBIA  08/11/15 -AFRICAN QUEEN MINES COMPLETES ACQUISITION OF YELLOWJACKET GOLD PROJECT IN BRITISH COLUMBIA  08/05/15 - AFRICAN QUEEN MINES SIGNS FORMAL ASSET PURCHASE AGREEMENT TO ACQUIRE YELLOWJACKET GOLD PROJECT IN BRITISH COLUMBIA  06/25/15 - AFRICAN QUEEN MINES ENTERS INTO AGREEMENT TO ACQUIRE YELLOWJACKET GOLD PROJECT IN BRITISH COLUMBIA 01/27/15 - AFRICAN QUEEN CLOSES SALES OF GHANA SUBSIDIARY AND ASSETS 09/16/14 - AFRICAN QUEEN ENTERS INTO CONDITIONAL AGREEMENT COVERING SALE OF ITS GHANA ASSETS 07/31/14 - AFRICAN QUEEN AND XORTX PHARMA TERMINATE PROPOSED MERGER TRANSACTION 07/07/14 - African Queen Updates Status of Acquisition of XORTX Pharma Corp. 06/04/14 - African Queen Closes $50,000 First Tranche of Private Placement 06/03/14 - African Queen Announces Private Placement 03/04/14 - AFRICAN QUEEN TO ACQUIRE XORTX PHARMA CORP. 10/10/13 - African Queen Closes $300,415 First Tranche Of Private Placement 10/02/13 - African Queen Announces Private Placement 08/07/13 - African Queen Files Application to Extend Warrants 05/28/13 - African Queen Grants Stock Options 03/25/13 - 2013 Field Exploration Program Commences at African Queen's Ugunja Gold Project in Kenya's Lakeland District 01/14/13 - Exploration License for African Queen's Noyem-Nyanfoman Gold Project on Ghana's Ashanti Belt Expaanded and Renewed for Two Years 01/02/13 - Initial Core Drill Results at African Queen Mines' Odundu Project in Kenya Reveal Extensive Zone of Near-Surface Gold-Bearing Mineralization 12/17/12 - African Queen Cuts Expenses and Streamlines Project Portfolio; Drops Mozambique Operations Including King Soloman Project 12/03/12 - African Queen Announces Closes First Tranche of Private Placement 11/23/12 - African Queen Announces Private Placement 11/13/12 - Initial Core Drill Results at African Queen's Noyem-Nyanfoman Gold Project on Ghana's Ashanti Belt are Consistent with Historic Results and Confirm Potential 10/26/12 - Continuing Field Work at African Queen's Ugunga Gold Projetc in Kenya's Lakeland District Generates 4 New Targets 10/19/12 - Rich Radez Joins African Queen Mines as Senior Financial Consultant 10/16/12 - African Barrick Gold Acquiring Interests in Ground Adjacent to African Queen's Uginja Gold Project in West Kenya 09/21/12 - African Queen Mines Contributes to Local Community at its Odundu Property in Kenya's Rongo Gold Fields 08/02/12 - Field Work at African Queen's Ugunja Gold Project in Kenya's Lakeland District Generates Strong Targets; Visible Gold Encountered 07/11/12 - African Queen Encounters Broad Zones of Mineralization at its Odundu Property in Kenya's Rongo Gold Fields 04/25/12 - Term of Exploration License Extended Two Years at African Queen's Odundu Property in Kenya's Rongo Gold Fields 04/17/12 - African Queen Appoints Jennifer Todhunter as New CFO and Director 04/16/12 - Core Drilling Commences at African Queen's Odundu Property in Kenya's Rongo Gold Fields 04/03/12 - African Queen Mine Secures Driller for its Odundu Property in Kenya; Mobilization Underway 03/30/12 - African Queen Closes Second Tranche of $2.417 Million Private Placement 03/16/12 - African Queen $1.7 Million First Tranche of Private Placement 03/06/12 - African Queen Announces Private Placement 02/22/12 - African Queen Commences Drilling at Noyem-Nyanfoman Gold Project on Ghana's Ashanti Gold Belt 02/16/12 - Favorable Exploration Results at African Queen's Odundu Prospect In Kenya Point to Highly Prospective Drill Targets for Upcoming Program 02/03/12 - Legal Settlement Process Successfully Completed at African Queen's Rongo Gold Fields Project in Kenya 01/19/12 - African Queen Secures Driller for Noyem-Nyanfoman Project on Ghana's Ashanti Belt; February Date Set 01/06/12 - African Queen Reports Results From 2011 Reconnaissance Drill Program at King Solomon Focusing on New Targets and Step-Outs form Mankombiti Zone 12/30/11 - African Queen Sets Drilling Plans for Ghana and Kenya Gold Properties; Abandons Two Diamond Prospects 11/28/11 - Kenyan Partners of Linear Metals and African Queen Mines Settle Kenya Property Dispute 09/13/11 -AFRICAN QUEEN ACHIEVES BREAKTHROUGH IN SETTLEMENT NEGOTIATIONS AT NOYEM-NYANFOMAN PROJECT; 12 MORE KEY SMALL SCALE LICENSES RELINQUISHED 08/26/11 -AFRICAN QUEEN APPOINTS MARK LOTZ AS NEW CFO AND DIRECTOR 08/26/11 -AFRICAN QUEEN APPOINTS JENNIFER TODHUNTER AS VP FINANCIAL ADMINISTRATION 08/08/11 -AFRICAN QUEEN CLOSES $2.4 MILLION PRIVATE PLACEMENT 07/27/11 -SETTLEMENT PROCESS PROGRESSING AT AFRICAN QUEEN’S NOYEM-NYANFOMAN PROJECT; 3 MORE SMALL SCALE LICENSES RELINQUISHED 07/15/11 -AFRICAN QUEEN REACHES ACCORD WITH NYANFOMAN CHIEF AT NOYEM-NYANFOMAN GOLD PROJECT IN GHANA, LEADING TO RELINQUISHMENT OF FIRST GROUP OF SMALL-SCALE LICENSES 07/08/11 -AFRICAN QUEEN ANNOUNCES PRIVATE PLACEMENT  06/14/11 - GROUND GEOPHYSICS SURVEY UNDERWAY AT AFRICAN QUEEN’S RONGO GOLD FIELDS PROJECT IN KENYA’S LAKE VICTORIA GREENSTONE BELT 06/03/11 - 2011 CORE DRILLING PROGRAM NOW UNDERWAY AT AFRICAN QUEEN'S KING SOLOMON PROJECT IN MOZAMBIQUE 06/01/11 - AFRICAN QUEEN GRANTED PROSPECTING LICENSE FOR NEW KARAMERI METALS PROJECT IN KENYA 05/23/11 - AFRICAN QUEEN COMMENCES 2011 FIELD PROGRAM AT NOYEM-NYAFOMAN GOLD PROJECT IN GHANA 04/27/11 - FIELD WORK UNDERWAY AT AFRICAN QUEEN’S UGUNJA GOLD PROJECT IN KENYA’S LAKELAND DISTRICT 04/21/11 - AFRICAN QUEEN GRANTED PERMITS FOR 2011 WORK PROGRAM AT NOYEM-NYAFOMAN GOLD PROJECT IN GHANA 03/31/11 - KENYA’S HIGH COURT GRANTS INTERIM ORDER TO AFRICAN QUEEN’S JV PARTNER ABBA MINING AGAINST ADVERSE LICENSE CLAIMANT 03/24/11 - GHANA MINING COMMISSION EXTENDS TERM OF AFRICAN QUEEN’S NOYEM-NYAFOMAN LICENSE SETTING STAGE FOR 2011 WORK PROGRAM 03/03/11 - AFRICAN QUEEN MINES EXPANDS PRESENCE IN KENYA: SIGNS EARN-IN AND JV AGREEMENT FOR UGUNJA GOLD PROJECT IN KENYA’S LAKELAND DISTRICT 02/27/11 - AFRICAN QUEEN CORRECTS AND CLARIFIES PRESS RELEASE DATED FEBRUARY 24, 2011, CONCERNING ORDER BY KENYA’S HIGH COURT 02/24/11 - AFRICAN QUEEN’S JV PARTNER ABBA MINING WINS INTERIM ORDER IN KENYA’S HIGH COURT TODAY AGAINST ADVERSE LICENSE CLAIMANT 02/14/11 - AFRICAN QUEEN’S JV PARTNER ABBA MINING IN DISPUTE OVER PORTION OF RONGO LICENSE IN KENYA 02/02/11 - AFRICAN QUEEN’S CHAIRMAN MEETS WITH KENYA’S PRIME MINISTER 01/31/11 - FURTHER DRILLING AT AFRICAN QUEEN'S KING SOLOMON PROJECT CONFIRMS SIGNIFICANT COPPER, GOLD AND SILVER MINERALIZATION AT MANKOMBITI TARGET AND POINTS TO PROSPECTIVITY OF WESTERN ZONES; 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Recent IP Survey Confirms Prospectivity 06/25/10 - African Queen Mines Hires Gregory Nowak as Ghana Country Manager and Noyem Project Manager 05/17/10 - African Queen Mines Signs Earn-In and JV Agreement for Rongo Gold Pield Project in Kenya's Lake Victoria Greenstone Belt 03/23/10 - African Queen Receives 43-101 Report on King Solomon Gold Project 03/06/10 - African Queen Pares Down Exploration Portfolio by Dropping Manica Fingoe Project in Mozambique and Okavango Diamond Project in Botswana 03/03/10 - Regional Soil Sampling Results from King Solomon Project Confirm Prospectivity and Set Stage for Upcoming Core Drill Program on Ket Targets 01/11/10 - Chip Samples from Independent Study of African Queen's King Soloman Project Confirm the Company's Prior Findings and Point to Prospectivity 12/23/09 - African Queen Closes $2.36 Million Private Placement 11/27/09 - African Queen Announces Private Placement 11/18/09 - 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 10/19/09 - AFRICAN QUEEN SIGNS EARN-IN AND JV AGREEMENT WITH AKAN FOR KEY NOYEM GOLD PROJECT IN GHANA’S ASHANTI BELT; LICENSE BEING ACQUIRED FROM NEWMONT UNDER SEPARATE AGREEMENT 10/14/09 - FURTHER ROBUST ROCK SAMPLES FROM AFRICAN QUEEN’S KING SOLOMON PROJECT CONSISTENT WITH INITIAL RESULTS; CONFIRM POTENTIAL FOR SIZEABLE COPPER-GOLD-SILVER POLYMETALLIC REGIONAL SYSTEM 09/17/09 - INITIAL ROCK SAMPLES FROM AFRICAN QUEEN'S KING SOLOMON PROJECT IN MOZAMBIQUE INDICATE PROTENTIAL FOR SIZEABLE COPPER-GOLD-SILVER POLYMETALLIC REGIONAL SKARN SYSTEM 07/13/09 - AFRICAN QUEEN SIGNS EARN-IN AND JOINT VENTURE AGREEMENT WITH OPTI METAL TRADING COVERING KEY ZONE AT FINGOE REGIONAL GOLD PROJECT IN MOZAMBIQUE 05/25/09 - AFRICAN QUEEN'S FOLLOW-UP FIELD PROGRAM NOW UNDERWAY AT FINGOE GOLD PROJECT IN MOZAMBIQUE 05/15/09 - AFRICAN QUEEN COMPLETES $1.278 MILLION PRIVATE PLACEMENT 04/20/09 - AFRICAN QUEEN ANNOUNCES PRIVATE PLACEMENT 03/24/09 - AFRICAN QUEEN ANNOUNCES PRIVATE PLACEMENT 03/04/09 - CORE DRILLING COMMENCES ON AFRICAN QUEEN’S OK41 AT OKAVANGO DIAMOND PROJECT IN BOTSWANA 02/24/09 - AFRICAN QUEEN ABANDONS CAZULA PROJECT IN MOZAMBIQUE TO FOCUS ON HIGHLY PROSPECTIVE FINGOE BELT GOLD PROJECT 02/20/09 - AFRICAN QUEEN ACCELERATING WORK PROGRAM ON KEY GOLD TARGETS IN MOZAMBIQUE’S FINGOE BELT AS A RESULT OF FAVORABLE SAMPLING RESULTS 02/05/09 - AFRICAN QUEEN EXECUTES CONTRACT FOR CORE DRILLING AT ITS OKAVANGO DIAMOND PROJECT IN BOTSWANA; MOBILIZATION UNDERWAY 01/23/09 - AFRICAN QUEEN MINES ENGAGES CARRIE HOWES FOR INVESTOR RELATIONS TEAM 12/27/08 - AFRICAN QUEEN MINES ABANDONS BRAGANZA GOLD PROJECT IN MOZAMBIQUE TO FOCUS ON PRIORITY TARGETS 12/16/08 - AFRICAN QUEEN MINES COMMENCES TRADING ON THE FRANKFURT STOCK EXCHANGE 12/15/08 - AFRICAN QUEEN MINES’ SAMPLING YIELDS G10 GARNETS AND OTHER KIMBERLITIC INDICATORS OVER KEY DIAMOND TARGETS ON ITS OKAVANGO PROJECT IN BOTSWANA 12/02/08 - Irwin Olian Announces Filing of Additional Early Warning Report 12/01/08 - African Queen Mines Ltd. - Grants Stock Options 11/19/08 - African Queen Mines Ltd. - Grants Stock Options 11/04/08 - Irwin Olian Announces Filing of Additional Early Warning Report 10/27/08 - Irwin Olian Announces Filing of Early Warning Report 10/15/08 - AFRICAN QUEEN MINES LTD. - COMMENCES TRADING 06/27/08 - ACQUISITION OF PAN AFRICAN MINING CORP. BY ASIA THAI MINING CO., LTD. CLOSED TODAY IN ACCORDANCE WITH PLAN OF ARRANGEMENT
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Contact Information For investment information please contact our investor relations group.

Marketing Director - Canada
Lee Dunston
(604) 899-0100 ext. 5
lee@africanqueenmines.com

Corporate Communications, Europe
Carrie Howes
London: +44 7780 602 788
Dubai: +971 55 997 0427
carrie@africanqueenmines.com

 
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