Ghana Gold Announces Two Phase Plan for Exploration of Ahenkro Concession
PORT ST. LUCIE, Fla., Feb. 7, 2013 /PRNewswire/ -- Ghana Gold Corporation; (PINKSHEETS: GGCO) is pleased to announce it has complied with all requirements of Ghana's Minerals Commission and expects to undertake a Two Phase test program for the Ahenkro Concession.
The 102.5 sq km Ahenkro Concession is strategically located on the northern tip of the Asrankagua Belt which is currently the new frontier for Gold discoveries on the eight Birimian hosted greenstone gold belts of Ghana.
The Company plans a two phase test program to identify alluvial zones and prove up hard rock gold reserves. Phase I will include stream sediment sampling, interpretation of airborne geophysical studies, structural mapping and soil sampling. Phase II testing will include trenching and exploratory drilling. Based on preliminary studies, Mr. Kwabena Mensah, Principal Geologist, believes that the initial focus of the drill program will be within the central portions of the permit where there is evidence of structurally controlled metasedimentary rocks within granitoid formations. First stage of planned drilling will require 25-35 drill holes using a Rotary Air Blast "RAB" drill rig.
The Ahenkro appears to share many similar geo-tectonic similarities and in close proximity to proven gold reserves of some of the major companies in the industry including AGA's historical mine at Mpesetia and Keegan Resources' Esaase project which hosts an estimated 5.1 million ounces.
While conducting this two phase test program, the Company plans with approval from the Minerals Commission to commence alluvial mining. The geomorphological setting of the Ahenkro is ideal for alluvial mining as one of Ghana's major waterways, the Ofin River meanders the Central portions of the concession. The proximity to the Ofin River and within structurally controlled metasedimentary rocks suggests great alluvial potential for this area.
The Ahenkro and Offinso area in general has been untouched by local Galamsey (illegal miners) due to the watch of the area's authorities and also the custodial influence of the local elders safeguarding of the water supplies that feed Ghana's second largest city, Kumasi. Current mining technology utilized by the company does not affect waterways and has created this opportunity to mine this area.
Mr. Robert Kirkcaldy, President and COO of Ghana Gold Corporation, commented, "We look forward to commencing further tests and get started with production. The local 'Nanas' have been vigilant in protecting of this area. Ghana Gold will continue to safeguard the environment and profit by working on near-virgin lands."
The company's website is www.Ghanagoldcorporation.com
Robert Kirkcaldy, President and COO
Ghana Gold Corp
For further Information and inquiries please call: 866-340-3095.
FORWARD LOOKING STATEMENTS
Certain statements in this release, other than statements of historical fact, may include forward-looking information that involves various risks and uncertainties. There can be no assurance that such forward-looking statements will prove to be accurate. Actual result and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral forward-looking statements are based on the estimates and opinions of management on the dates they are made and expressly qualified in their entirety by this notice. The Company assumes no obligation to update forward-looking statements should circumstances or management's estimates or opinions change, other than as required pursuant to applicable securities laws.
SOURCE Ghana Gold Corporation
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