African Queen Mines : adds Mineral Tenures African Queen Mines : adds Mineral Tenures Covering Two Further Key Areas in Atlin District
Vancouver, British Columbia / TheNewswire / September 21, 2016 - AFRICAN QUEEN MINES LTD. (the “Company”) is pleased to announce that it has acquired an additional 1211.9 hectares in four hard rock mineral tenures located along Wright Creek, approximately 20 kilometres east of its Yellowjacket Gold Mine near Atlin, BC. In addition, it has acquired one hard rock mineral tenure totaling 491.4 hectares adjacent to its historic Yellowjacket Project claim holdings, approximately 7 kilometres west of the Yellowjacket Gold Mine.
The Company now controls 51 mineral claims, 3 placer claims and one placer lease covering an aggregate of 271 km2 of strategic ground in the historically significant placer mining areas of Pine Creek and Spruce Creeks. The company also holds hard rock mineral tenures along the headwaters of McKee Creek and its tributary Eldorado Creek plus the new mineral tenures cover much of Wright Creek and its tributary Bonanza Creek. The Wright Creek claims cover structural trends and favourable geologic contacts along a major gold producing placer creek. The Wright Creek area is underlain by sedimentary and volcanic rocks of the Cache Creek Group, intruded by the granodioritic Surprise Lake Batholith. Placer gold deposits have been exploited in the upper reaches of Wright Creek, but the bedrock gold source for these placers remains to be discovered. The new westernmost claim covers the strike extent of the thrust fault along the ultramafic and volcanic rock contact which hosts the Yellowjacket Mine. Management views the new tenures as highly prospective for their potential to host commercially viable hard-rock gold deposits. On the Yellowjacket Zone, an initial four-hole diamond drilling program has been completed utilizing a local drilling contractor and assays are pending from Bureau Veritas laboratories in Vancouver, BC. Results will be announced as soon as available to the Company. According to Irwin Olian, CEO of the Company, “We are delighted with the strides we have made in recent months in assembling what amounts to the largest body of highly prospective hard rock mineral tenures in the Atlin District. These last two acquisitions provide us with an outstanding land package in the Wright Creek basin as well as adding ground to the NW of our historic Yellowjacket tenures covering key geologic elements. We have now positioned the Company and its shareholders with a highly prospective package of mineral tenures for the future that offer the potential for one or more major discoveries.” Linda Dandy, P.Geo., a Qualified Person within the meaning of N.I. 43-101, is providing on site supervision and guidance at the Project and has reviewed and approved the contents of this press release. She previously oversaw exploration activities on the project for a predecessor operator. Overall project leadership at Yellowjacket is being provided by Dr. Reinhard Ramdohr.
About African Queen
The Company is an exploratory resource company engaged in exploration and development of mineral properties in Canada and Africa. It is presently focusing on development of its Yellowjacket Gold Project in Atlin, British Columbia, which covers an aggregate of approximately 271 km2. 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 E-mail: tigertail@africanqueenmines.com Phone: (604) 788-0300 | Carrie Howes, Corporate Communications Email: carrie@africanqueenmines.com Phone : U.K. - +44 (0) 870 490 5443 Canada - +1 416 900 3634 |
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The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of the information contained herein. The statements made in this press release may contain certain forward-looking statements that involve a number of risks and uncertainties. Actual events or results may differ from the Company’s expectations.
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