Asa Resources Regulatory News (ASA)

7 Jul 2005 07:00

African Gold PLC07 July 2005 AFRICAN GOLD plc Ghana Drilling Update The Board of African Gold plc, the AIM listed African Gold Explorer and Miner,is pleased to provide an update on the Company's ongoing exploration activitiesin Ghana. The current focus is on the Konongo gold mining lease of 125sq km, inthe Ashanti gold belt of Ghana. A second round of drilling has been completed on the Obenemase and Leopardprospects, with continued encouraging results. First pass drilling was alsoundertaken at the new Boabedroo prospect where a widespread low grade goldmineral section was encountered. The strong results from all three prospects confirm the Company's view that thegold resource within the Konongo licence, presently in excess of 950,000 ounces,will be substantially exceeded. In particular, the Leopard and Boabedrooprospects show promise of hosting significant new gold resources at shallowdepth. Drilling programmes to bring the Leopard and Boabedroo prospects to resourcestatus are planned. Resource calculations have commenced for the Obenemasedeposit, which has now been proved over a strike length of 1.0 km and to a depthof 250 metres, remaining open to the north. Obenemase Several holes were drilled to test the continuity of the Obenemasemineralization to the north where the system is open ended. Two holesintersected the sulphide body at depths of 150 to 230 metres below surface, withsignificant results as follows:- Hole ID From To Interval Grade Au g/t (m) (m)05 OBADD638 174.0 179.0 4.0 4.47 183.0 189.0 6.0 7.07 201.0 205.0 4.0 9.62 05 OBADD049 301.0 303.0 2.0 35.74 352.0 355.0 3.0 10.78 A third round of drilling is proposed to a depth of +300 metres below surface.The continuity of the Obenemase deposit has now been proved over a strike lengthof over 1.0 km and to a depth of 250 metres, remaining open to the north. Resourcecalculations have commenced using in-house and independent consultants. Leopard A total of 84 holes have now been drilled on 25 metre spaced sections, to anaverage depth of 80 metres below surface. The results, tabulated below, confirmthe presence of a new mineralised system, with three parallel quartz veinsoccurring over a width of 30 metres with an indicated strike length of over 500metres. The mineralization remains open in depth and along strike to the north. African Gold plc has planned a follow-up drilling programme to test the systemto a depth of 200 metres below surface, using a combination of reversecirculation and core drilling. Leopard Table Hole ID From To Interval Au g/t (m) (m)04 LERC 004 25.0 26.0 1.0 6.804 LERC 006 30.0 33.0 3.0 5.58 39.0 41.0 2.0 4.8804 LERC 007 15.0 22.0 7.0 3.6004 LERC 008 37.0 38.0 1.0 4.26 63.0 65.0 2.0 3.3604 LERC 039 34.0 35.0 1.0 6.1504 LERC 051 24.0 28.0 4.0 7.4405 LERC 057 22.0 23.0 1.0 4.60 43.0 44.0 1.0 4.6805 LERC 058 63.0 66.0 3.0 5.1205 LERC 063 61.0 63.0 2.0 3.0405 LERC 072 77.0 78.0 1.0 9.2605 LERC 073 28.0 29.0 1.0 3.14 Boabedroo A first pass programme of twelve diamond cored holes has been completed at thenew Boabedroo prospect, below the open pits which had previously mined oxidisedore to a depth of 30 metres. The Boabedroo underground mine produced over1.0 million tonnes of ore averaging 16 g/t Au to a depth of 650 metres, prior to1984. African Gold has targeted wide zones of lower grade mineralization whichwere thought to surround the narrow, high grade veins of the previous mine. The initial results are highly encouraging, confirming the presence of a lowergrade mineralised zone from 9.0 to 28.0 metres wide. The indicated strike lengthof the prospect, as established by drilling, is 700 metres, with potential to thesouth for a further 300 metres, as indicated by underground mine workings. Boabedroo Table Hole ID From To Interval Au g/t (m) (m)05 BBS DD 001 155.0 164.0 9.0 1.22 169.0 178.0 9.0 2.54 05 OBBS DD 007 92.0 94.0 2.0 21.34 135.0 145.0 10.0 5.6205 OBBN DD 001 4.0 32.0 28.0 1.24 101.0 104.0 3.0 2.5905 OBBN DD 002 135.0 139.0 4.0 2.1505 OBBN DD 003 119.0 136.0 17.0 1.9205 OBBN DS 005 142.8 158.0 16.0 0.93 A second round of core drilling is planned to test the full 1.0 km strikelength, initially to a depth of 200 metres. Enquiries: Oliver Baring + 44 (20) 7654 5588African Gold Tom Randell/ Maria Suleymanova + 44 (20) 7653 6620Merlin This information is provided by RNS The company news service from the London Stock Exchange