Oct 29 2010
Keegan Resources Inc. (TSX:KGN)(NYSE Amex:KGN) has announced additional new assay results from its Esaase Project drilling program in southwest Ghana.
Keegan continues to encounter significant (greater than 10 g/t meter grade) intercepts from the new, near surface zone 200 m NW from the existing Esaase resource (see nr dated September 8, 2010). Intercepts within the newly identified "D-1" zone include 18 meters at 7.74 g/t Au, 5 meters at 9.1 g/t Au, and 12 meters of 3.76 g/t Au. Mineralization within this D-1 zone has been identified to be over 600 meters in strike length thus far, appears to be slightly offset, and is open along strike and to depth.
Recent results from step out drilling from Keegan's Esaase Project. Only intercepts with grade-widths of greater than 10 g/t meter Au are shown. Intercepts with grade-widths of approximately 20 g/t meter Au or higher are show in bold text. Widths are given as measured down hole and grades are reported in g/t Au. All holes are drilled at an azimuth of approximately 110 degrees at a dip of 45 degrees so depth from surface is approximately 70% of drill hole depths.
Keegan has additional assays pending from the same mineralized zone and is now planning an accelerated follow-up drilling program. Presently, Keegan is expanding the existing resource to depth and along strike, as well as by targeting new zones such as the one described in this press release. The company plans to continue its aggressive resource exploration and development program into the New Year.
President and CEO Maurice Tagami stated, "These new drill results confirm the presence of a new, near surface gold mineralized zone at Esaase. This discovery further illustrates the productive gold system present at the Esaase Project. Current drilling with two rigs is proceeding well and we are excited to increase project value through the ongoing development and exploration drilling programs."
Richard Haslinger, P. Eng. is the Qualified Person with respect to NI 43-101 at Esaase. RC samples were taken at one-meter intervals under dry drilling conditions by geologic and resource consultant Coffey Mining Inc. utilizing drilling and sampling techniques widely accepted in resource definition studies of other West African gold deposits. All reverse circulation drill samples are weighed on site. All samples are assayed using standard 50 gram fire assay with atomic absorption finish by ALS Chemex Labs in Kumasi, Ghana. QA/QC programs using internal and external standard samples, re-assays, and blanks indicate good accuracy and precision in a large majority of standards assayed. Repeatability in duplicate samples is generally within 10% variance. In instances where variance is greater than 10%, the assays from both samples are averaged. Intercepts were calculated to emphasize width rather than grade: a minimum of a 0.2 g/t cut off at beginning and end of the intercept and allowing for no more than six consecutive samples (six meters) of less than 0.2 g/t Au. Mineralization in the A structure strikes approximately 10 to 30 degrees east of north and dips 45 to 90 degrees to the west. Holes are drilled at 110 degrees azimuth and are inclined at 45 to 60 degrees, so true widths are estimated to be over 80% of the drilled widths.
Source: Keegan Resources Inc.