African Queen discovers 69 g/t Au at Odundu 2012-02-16 11:23 ET - News Release
Mr. Irwin Olian reports
FAVORABLE EXPLORATION RESULTS AT AFRICAN QUEEN'S ODUNDU PROSPECT IN KENYA POINT TO HIGHLY PROSPECTIVE DRILL TARGETS FOR UPCOMING PROGRAM)
African Queen Mines Ltd. has provided favourable results from its preliminary fieldwork and airborne geophysics at its Odundu property in southwest Kenya's Rongo goldfields, which are being used for target generation for its upcoming core drilling program. A convergence of positive sampling and geochemical results from fieldwork with positive results from ground and airborne geophysics studies points to a number of highly prospective targets that the company is planning to test by drilling.
The Odundu property covers an area of approximately 97 square kilometres 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 kilometres by road from the capital city of Nairobi and 60 km north 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.
An airborne magnetic and radiometric survey was carried out by Terrascan airborne GmbH and Co Kg, a German company, on behalf of the company. It revealed north-west south-east-trending structures and a prominent shear zone traversing the Odundu property. Several smaller structural splays diverging from the main shear zone were also detected. A grab sample from an artisanal pit located within the shear zone revealed a high value of 69 g/t Au. Other grab samples from this pit obtained by a qualified person, Dr. Peter Christopher, PEng, indicated gold values ranging between 6.08 g/t Au and 10.10 g/t Au. The rock types identified are highly altered with evidence of sulphide mineralization. To date, only a small portion of the shear zone traversing the Odundu property has been explored.
In order to follow up on the airborne magnetic anomaly, the following program was initiated and completed:
- A detailed ground magnetic survey covering five square kilometres was carried out by Remote Exploration Services (Pty.) Ltd. from South Africa;
- Geological mapping covering approximately six square kilometers was completed to identify the lithologies and structural trends within the ground magnetic survey area;
- Sampling and gold analysis of termite mounds located within and peripheral to the shear zone amounted to 123 samples covering an area of approximately one square kilometre.
The ground magnetic survey confirmed the existence of the shear zone/fault system detected by the airborne survey. Anomalous gold values from the termite mound samples located within and peripheral to the shear zone ranged between 0.50 part per billion and 669 ppb gold, with many samples in the higher ranges. Furthermore, arsenic anomalies were detected approximately 200 metres and 1.3 kilometres northwest of the pit.
These initial favourable results prompted the company to undertake a 3-D resistivity and induced polarization (IP) survey of the Odundu area. This survey was administered by Akili Minerals Services Ltd, a Kenyan company. A zone of high chargeability over an approximate strike of 1.5 kilometres by 100 metres wide was detected by the IP survey within the shear zone/fault system. The resistivity survey showed a zone of low resistivity (high chargeability) commonly indicative of sulphide mineralization. It appears that the IP and resistivity survey results may be related to a rich sulphide zone associated with gold.
Identification of this shear zone, which encompasses abandoned and active mining operations and demonstrates initial high gold values, is highly encouraging. A trenching program is now being completed with a view toward examining the possibility of further gold potential along the shear zone extensions. This trenching program was initiated recently and is progressing well. Ultimately, the trenching information will clarify the nature and surface extent of the mineralization, the structural detail, and complement the planned core drilling program.
The company's rights to the project arise from an earn-in and joint venture agreement with Kenyan-based Abba Mining Co., under which the company may earn up to an 85-per-cent interest in the project by financing 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, PGeol, AI, MA, BSc. General project oversight is being provided by senior consulting geologist Pete Siegfried, MSc, MAusIMM (Australasian Institute of Mining and Metallurgy). Both are qualified persons who have reviewed and approved the contents of this press release.
According to Irwin Olian, chief executive officer of the company, "The convergence of positive geochemical and geophysics data at Odundu suggests a high probability of success in our upcoming reconnaissance drill program. We are excited to be moving forward now."