Keegan Continues to Hit Excellent Gold GradesKeegan Resources Inc.
TSX VENTURE:
KGN
AMEX:
KGN
Jun 24, 2008 12:53 ET
Keegan Continues to Hit Excellent Gold Grades on Stepout Holes at Esaase
VANCOUVER, BRITISHCOLUMBIA--(Marketwire - June 24, 2008) - Keegan Resources Inc.("Keegan") (TSX VENTURE:KGN)(AMEX:KGN) is pleased to announce resultsfrom step out drilling at the Esaase property. Highlights include 32meters of 1.67 g/t Au in the B-1 zone, 25 meters of 1.51 g/t Au in thenorth extension, and 38 meters of 1.68 g/t Au in the south extension.While stepping out to the far north to test the possible extent of themain zone Keegan hit its first significant intercept, located 1.5 kmnorth of the existing 43-101 resource. Hole 356 contained 11 meters of1.46 g/t Au; mineralization is open along the full distance betweenthis intercept and the resource zone. Please see www.keeganresources.com for a drill hole location map.
Table 1. Significant step out hole intercepts
from recent Esaase Drilling
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north, far north, and d-1 extensions
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From To Width Grade
Drill ID (m) (m) (m) (gt)
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KERC392 206 232 26 1.39
including 229 230 1 10.1
KERC392 168 191 23 0.87
KERC395 191 216 25 1.51
KERC397 49 67 18 1.42
KERC397 95 105 10 1.25
KERC397 118 131 13 1.43
KERC397 207 219 12 1.37
KERC398 110 116 6 2.45
KERC400 154 160 6 1.63
KERC356 118 129 11 1.46
including 121 122 1 12.2
KEDD383 43 51 8 0.79
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west, B-1 and south extensions
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From To Width Grade
Drill ID (m) (m) (m) (gt)
-------------------------------------------
KEDD336 130 135 5 0.98
KEDD336 172 183 11 0.5
KEDD336 326.4 345 18.6 0.83
KERC365 154 166 12 1.22
KEDD368 208.9 240.9 32 1.67
KEDD370 186 196.4 10.4 1.16
KEDD370 210 217.1 7.1 1.01
KEDD371 176 196 20 1.58
KERC374 116 147 31 0.8
KERC379 52 62 10 1.72
including 53 54 1 12.55
KEDD381 42 80 38 1.68
including 42 43 1 18.8
and 64 65 1 20.1
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Notes: All distance measurements in meters
and grades in gram per ton Au
President and CEO Dan McCoy states: "We are continuing to see thegold resources at Esaase expanding and extending in multiple zones anddirections. We will continue drilling continuously and expect torelease an expanded resource by the end of the year."
Richard Haslinger, P. Eng. is the Qualified Person with respect toNI 43-101 at Esaase. RC samples were taken at one meter intervals underdry drilling conditions by geologic and resource consultant RSG Global,Inc. utilizing drilling and sampling techniques widely accepted inresource definition studies of other West African gold deposits. Allreverse circulation drill samples are weighed on site. Drill core is HQwidth and is split logged and sampled on site. All core and RC samplesare assayed using standard 50 gram fire assay with atomic absorptionfinish by Transworld Laboratories (GH) Ltd. in Tarkwa, Ghana or SGSLabs in Tarkwa, Ghana. QA/QC programs using internal and externalstandard samples, re-assays, and blanks indicate good accuracy andprecision in a large majority of standards assayed. Repeatability induplicate samples is generally within 10% variance. In instances wherevariance is greater than 10%, the assays from both samples areaveraged. Intercepts were calculated to emphasize width rather thangrade: a minimum of a 0.2 g/t cut off at beginning and end of theintercept and allowing for no more than six consecutive samples (sixmeters) of less than 0.2 g/t Au. All internal intercepts above 10 g/tAu are reported within the intercept. Intercepts of less than 5 metersor less than 5 g/t Au X meter grade-thickness are not reported.Mineralization in each zone strikes from approximately 10 to 30 degreeseast of north and dips 45 to 90 degrees to the west. Drill holes areoriented at 90 to 110 degrees azimuth (270 in holes targeting thevertically dipping B-1 structure and are inclined at 45 to 60 degrees,so true widths are estimated to be over 70% of the drilled widths.
About Keegan Resources
Keegan is a junior gold company offering investors the opportunityto share ownership in the rapid exploration and development of highquality, pure gold assets. The Company is focused on its wholly ownedflagship Esaase and Asumura gold projects located in Ghana, WestAfrica. Managed by highly skilled and successful technical andfinancial professionals, Keegan is well financed with no debt. Keeganis also strongly committed to the highest standards for environmentalmanagement, social responsibility, and health and safety for itsemployees and neighboring communities. Keegan trades on the TSX-VEN andon the AMEX under the symbol KGN. More information about Keegan isavailable
www.keeganresources.com.
On Behalf of the Board
Dan McCoy, Ph.D., President & CEO
This release includes certain statements that may be deemedforward-looking statements. All statements in this release, other thanstatements of historical facts, that address future production, reservepotential, exploration drilling, exploitation activities and events ordevelopments that the Company expects are forward-looking statements.Although the Company believes the expectations expressed in suchforward-looking statements are based on reasonable assumptions, suchstatements are not guarantees of future performance and actual resultsor developments may differ materially from those in the forward-lookingstatements. Factors that could cause actual results to differmaterially from those in forward-looking statements include marketprices, exploitation and exploration successes, continued availabilityof capital and financing, and general economic, market or businessconditions. Investors are cautioned that any such statements are notguarantees of future performance and those actual results ordevelopments may differ materially from those projected in theforward-looking statements. For more information on the Company,Investors should review the Company's filings that are available at
www.sedar.com.
To view the map accompanying this release please click the following URL:
https://media3.marketwire.com/docs/Keeg%20Map.pdf
TheTSX Venture and AMEX Exchange have not reviewed and do not acceptresponsibility for the adequacy or the accuracy of this release.