Asa Resources Regulatory News (ASA)

6 Apr 2005 07:00

African Gold PLC06 April 2005 6th April 2005 African Gold Plc. Ghana Drilling Update The board of African Gold Plc., the AIM listed African gold explorer and mineris pleased to provide an update on the Company's ongoing exploration activitiesin Ghana. The current focus is on the Konongo mining licence covering over 125sq kms in the Ashanti gold belt area of Ghana and on the Banka mining licencesome 50 kms to the south of Konongo. Konongo A 68 hole first pass reverse circulation drilling programme has identified a newmineralised system called the Leopard shear zone, where three parallel veinshave been outlined over a distance of 500 metres. Mineralisation remains open tothe North. The discovery is a high grade quality vein system. The following is asummary of available results from holes 12 - 49. Leopard drilling________________________________________________________HOLE ID FROM(m) TO(m) INTERVAL Au g/t________________________________________________________ 05LERC012 52 53 1 1.1905LERC014 28 31 4 1.41 28 29 1 3.4 33 35 2 2.0405LERC015 17 18 1 5.22 55 57 3 7.9 55 56 1 16.6 77 78 1 2.905LERC016 43 44 1 1.29 55 56 1 15.4 76 78 2 3.3505LERC019 48 51 5 2.7 50 51 1 5.15 55 56 1 6.705LERC020 55 56 1 5.72 63 64 1 1.53 68 69 1 1.0105LERC022 35 36 1 15.6 38 39 1 5.8 45 46 1 4.9505LERC024 48 50 2 1.83 54 55 1 2.2705LERC049 43 46 3 1.72 46 47 1 0.75 The Konongo Mining Company which operated from 1932-1975, successfully minedsimilar grades and widths. This supports the view that current drilling isexploring a northerly extension of the Konongo gold field. An infill core and reverse circulation drilling programme, at 25 metre spacingto an 80 metre vertical depth will shortly commence. The programme willestablish grade and width as well as refining the size of the system. Earlier this year the Company reported results on the Obenamase deposit some 8kms to the north of the Leopard discovery. Obenamase is a disseminated sulphidedeposit. A deeper diamond drilling programme will commence in May to follow theopen ended deposit to the north. This means that the Company now has twopotential mines on the Konongo licence. Banka African Gold is earning 80 per cent of a mining licence on Banka some 50 kms tothe South of Konongo. The ground is a typical Tarkwa conglomerate which has beensuccessfully mined in Ghana for the last 90 years. Earlier exploration hasestablished a resource of more than 1 m tons at 3 g/t to a depth of 60 metres. The mineralised system outcrops for a distance in excess of 4 kms. It has beensampled using a combination of channel and rock chip samples. Results from 44samples are available. They have produced grades between 1.08 g/t and 9.58 g/tover widths between 1 and 3 metres. A 40 hole diamond drilling programme covering 2,500 metres will commence shortlyto test the conglomerate at shallow depths. Oliver Baring, co-chairman commented, "We are delighted with these results. Thediscovery of a totally new shear zone at Konongo gives us every confidence thatthe initial estimate of a gold resource in excess of 950,000 ozs at Konongo willbe exceeded. We are refining the discoveries at both Obenamase and Leopard withan extensive drilling programme. The initial results at Banka are particularlyencouraging as they indicate that the licence may host a new significant goldresource". Contacts: Oliver Baring + 44 (20) 7654 5588 African Gold www.africangoldplc.com Tom Randell/ Maria Suleymanova + 44 (20) 7653 6620Merlin + 44 (0)777 587 5847 African Gold is an AIM listed company (AFG) with gold mining interests in Africa www.africangoldplc.com This information is provided by RNS The company news service from the London Stock Exchange