Suche
 
Folgen Sie uns auf:

Term of Exploration License Extended Two Years at African Queen's Odundu Property in Kenya's Rongo Gold Fields

25.04.2012  |  The Newswire
Apr 25th, 2012 Copyright (c) 2012 Thenewswire.ca - All rights reserved.


(via Thenewswire.ca)


April 25, 2012


TSX.V: AQ


Frankfurt: QM0


Vancouver, British Columbia -- AFRICAN QUEEN MINES LTD. (the
"Company") is pleased to announce that the Mines and
Geological Department of the Republic of Kenya has now renewed Special
License No. 287 (the "License"), granted to the Company's
joint venture partner Abba Mining Company Limited ("Abba"),
for a further period of two years to January 22, 2014. The original
license was issued to Abba on January 22, 2010, for an initial term of
two years. In addition, the boundaries of the License were varied to
effectuate the settlement agreement entered into by Abba and B & M
Mining Company Limited (see Press Release dated February 3, 2012), by
reducing the area covered by the License by 15 sq. km to 97 sq. km.


Renewal and variation of the License now permits the Company to move
forward with its drilling and exploration programs at Odundu for the
next two years. As recently announced (Press Release dated April 16,
2012), Kenya-based Akili Minerals Services Limited has commenced the
Company's initial reconnaissance core drilling program of
approximately 2000 m at the Odundu property in Southwest Kenya's Rongo
Gold Fields. The Company previously completed a comprehensive
program of regional exploration including mapping, sampling trenching
and ground and airbourne geophysics on the property.


The Odundu property covers an area of approximately 97 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 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 on-site by
Senior Exploration Geologist Mike Othitis, P.Geol. AI, MA, Bsc.
General Project oversight is being provided by Senior Consulting
Geologist Pete Siegfried (M.Sc, MAusIMM).


According to Irwin Olian, CEO of the Company, "We are delighted
to have the full support of the Kenya Mines and Geological Department
for our Odundu project and other exploration projects in Kenya."


About African-Queen


The Company is an exploratory resource company with diversified
mineral properties in Southern, East and West Africa. It is exploring
its properties in Mozambique, Ghana and Kenya for gold and other
metals and it is undertaking exploration in Botswana and Namibia for
diamonds, gold and other metals. In Mozambique the Company has
approximately 230 sq. km. under license for gold and metals under an
agreement with another company. In Ghana it has 28.9 sq. km. under
license for gold. 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. The
Company's 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. 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. 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.


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 |Carrie Howes, Corporate |
|E-mail: |Communications |
|tigertail@africanqueenmines.com|Email: |
|Phone: (604) 899-0100 |carrie@africanqueenmines.com |
|Fax: (604) 899-0200 |Phone: Germany - +49 (0) 21141|
| |740411 |
| |? ? U.K. - +44 (0) 870 490 |
| |5443 |
| |? ? ? ? ? ? ? Canada - +1 |
| |416 900 3634 |
| |Dubai - +971 55 997 0427 |
----------------------------------------------------------------


Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.


-

Copyright (c) 2012 Thenewswire.ca - All rights reserved.


Bewerten 
A A A
PDF Versenden Drucken

Für den Inhalt des Beitrages ist allein der Autor verantwortlich bzw. die aufgeführte Quelle. Bild- oder Filmrechte liegen beim Autor/Quelle bzw. bei der vom ihm benannten Quelle. Bei Übersetzungen können Fehler nicht ausgeschlossen werden. Der vertretene Standpunkt eines Autors spiegelt generell nicht die Meinung des Webseiten-Betreibers wieder. Mittels der Veröffentlichung will dieser lediglich ein pluralistisches Meinungsbild darstellen. Direkte oder indirekte Aussagen in einem Beitrag stellen keinerlei Aufforderung zum Kauf-/Verkauf von Wertpapieren dar. Wir wehren uns gegen jede Form von Hass, Diskriminierung und Verletzung der Menschenwürde. Beachten Sie bitte auch unsere AGB/Disclaimer!




Mineninfo
Desert Mountain Energy Corp.
Bergbau
A2JHVK
CA25043D1078
Minenprofile
Alle Angaben ohne Gewähr! Copyright © by GoldSeiten.de 1999-2024.
Die Reproduktion, Modifikation oder Verwendung der Inhalte ganz oder teilweise ohne schriftliche Genehmigung ist untersagt!

"Wir weisen Sie ausdrücklich auf unser virtuelles Hausrecht hin!"