|
| |||||||||||||||
Keegan Resources Inc.: Esaase Gold Project Infill Drilling Program Continues to Show Excellent Continuity to Gold Mineralization VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--Apr 16, 2008 -- Keegan Resources Inc. ("Keegan") (CDNX:KGN.V - News)(AMEX:KGN - News)
is pleased to announce the results of 42 new infill drill
holes as well as 13 holes drilled to the south of the resource
area. All of the resource holes, excepting those that drilled
the footwall zone, had significant mineralized intercepts.
Longer intercept highlights included 50 meters of 1.74 g/t
Au in hole KER262 and 132 meters of 0.95 g/t Au from drill
hole KER296. Shorter, higher grade intercepts include 13
meters of 4.19 g/t Au in KEDD291. Step out Drill holes located
immediately south of the resource zone that give continued
good indication of continued resource expansion in this
direction include KEDD270, with an intercept of 28 meters
@ 1.41 g/t Au and KERC273, with an intercept of 40 meters
@ 1.2 g/t Au (please see www.keeganresouces.com
for a map showing collar location for all drill holes released). Keegan has more recently been drilling extensions of the recently discovered D-1 mineralized structure as well as extensions of the A-1 structure to the north. Results are pending.
Table 1. Initial intercepts from the 2008 infill drill program, Esaase
gold deposit
------------------------------------- -----------------------------------
From To Width grade From To Width grade
Hole_ID (m) (m) (m) (g/t Au) Hole_ID (m) (m) (m) (g/t Au)
------------------------------------- -----------------------------------
resource infill holes resource area infill holes
------------------------------------- -----------------------------------
KERC041 126 146 20 0.87 KERC290 2 14 12 1.43
------------------------------------- -----------------------------------
KEDD162 12 24 12 0.94 KERC290 34 92 58 1.17
------------------------------------- -----------------------------------
KEDD162 112 127 15 0.73 KEDD291 41 54 13 4.19
------------------------------------- -----------------------------------
KEDD162 166 183 16 1.23 including 42.9 44 1.1 33.2
------------------------------------- -----------------------------------
KEDD162 194 205 11 0.9 KEDD291 63 72 9 1.12
------------------------------------- -----------------------------------
KERC164 46 60 14 0.91 KERC292 24 83 59 1
------------------------------------- -----------------------------------
KERC164 90 99 9 0.99 including 24 25 1 26.4
------------------------------------- -----------------------------------
KERC164 129 147 18 0.97 KERC293 12 52 40 0.81
------------------------------------- -----------------------------------
KERC164 166 180 14 0.7 KERC294 9 36 27 0.94
------------------------------------- -----------------------------------
KEDD165 88 100 12 1.34 KERC295 67 82 15 1.19
------------------------------------- -----------------------------------
KEDD165 153 173 20 1.3 including 67 68 1 14.71
------------------------------------- -----------------------------------
including 158 159 1 12.36 KERC295 107 120 13 0.81
------------------------------------- -----------------------------------
KEDD165 184 214 30 0.75 KERC295 145 175 30 1.34
------------------------------------- -----------------------------------
KEDD166 83 95 12 1.08 KERC296 2 134 132 0.95
------------------------------------- -----------------------------------
KEDD166 268 274 5 1.5 KEDD297 32 57 25 0.99
------------------------------------- -----------------------------------
KEDD167 46 120 74 0.68 KEDD297 88 105 17 0.81
------------------------------------- -----------------------------------
KEDD167 182 208 26 0.6 KEDD297 118 128 10 1.41
------------------------------------- -----------------------------------
KEDD167 250 257 7 1.06 KEDD297 140 156 16 1.23
------------------------------------- -----------------------------------
KEDD168 131 164 33 0.79 KERC298 64 74 10 1.41
------------------------------------- -----------------------------------
KEDD168 240.2 274 33.8 1.7 KERC298 109 115 6 2.47
------------------------------------- -----------------------------------
including 241.2 242.3 1.1 31.9 including 114 115 1 13.85
------------------------------------- -----------------------------------
and 261 262 1 10.1 KERC299 136 151 15 0.76
------------------------------------- -----------------------------------
KEDD169 117 131 14 1.21 KERC299 197 257 60 1.21
------------------------------------- -----------------------------------
KEDD169 206 236 30 0.91 KERC300 132 148 16 0.98
------------------------------------- -----------------------------------
including 235 236 1 10.2 KERC300 217 238 21 1.05
------------------------------------- -----------------------------------
KEDD169 286 299 13 1.23 KERC301 49 54 5 4.32
------------------------------------- -----------------------------------
KEDD170 0 15 15 1.05 including 49 50 1 18.4
------------------------------------- -----------------------------------
KEDD170 52 72 20 0.95 KERC301 73 87 14 1.29
------------------------------------- -----------------------------------
KEDD170 140 151 11 0.64 including 83 84 1 11.5
------------------------------------- -----------------------------------
KEDD170 188 198 10 2.62 KERC301 83 111 28 1.61
------------------------------------- -----------------------------------
including 192.3 192.6 1.3 20.8 including 83 84 1 11.5
------------------------------------- -----------------------------------
KERC259 no significant intercepts KERC301 127 157 30 0.63
(drilled footwall) -----------------------------------
------------------------------------- KERC301 185 200 15 0.9
KERC261 8 72 64 1.18 -----------------------------------
------------------------------------- KERC304 142 148 6 1.9
KERC261 133 143 10 1.3 -----------------------------------
------------------------------------- KERC304 179 204 25 1.79
KERC262 44 66 22 1.39 -----------------------------------
------------------------------------- including 186 187 1 21.2
KERC262 148 179 31 1.43 -----------------------------------
------------------------------------- KERC304 269 297 28 1.15
KERC262 83 133 50 1.74 -----------------------------------
------------------------------------- KERC304 249 260 11 1.3
including 115 116 1 66.68 -----------------------------------
------------------------------------- Southern Extension Holes
KERC263 39 101 62 0.56 -----------------------------------
------------------------------------- KEDD231 158 193 35 1
KEDD269 57 108 51 1.22 -----------------------------------
------------------------------------- KEDD250 73 125 52 0.77
KEDD269 135 158 23 0.91 -----------------------------------
------------------------------------- KEDD251 79 91 12 1.07
KERC274 9 27 18 0.78 -----------------------------------
------------------------------------- KEDD252 81 108 27 0.75
KERC274 53 77 24 1.06 -----------------------------------
------------------------------------- KEDD252 138 163 25 0.63
KERC275 6 33 27 0.88 -----------------------------------
------------------------------------- KERC253 no significant intercepts
KERC275 49 88 39 0.75 (drilled footwall)
------------------------------------- -----------------------------------
KERC276 48 99 51 1.19 KEDD254 39 48 9 1
------------------------------------- -----------------------------------
KERC277 9 31 22 1.09 KEDD255 105 113 8 1.24
------------------------------------- -----------------------------------
KERC278 0 117 117 0.86 KEDD255 144 149 5 1.58
------------------------------------- -----------------------------------
including 23 24 1 24.1 KEDD255 161 172 11 0.88
------------------------------------- -----------------------------------
and 45 46 1 12.9 KEDD256 130 140 10 1.94
------------------------------------- -----------------------------------
KERC279 38 53 15 0.87 KEDD257 169 178 9 1.19
------------------------------------- -----------------------------------
KERC280 53 63 10 0.9 KEDD258 103 109 6 2.08
------------------------------------- -----------------------------------
KERC281 15 27 12 0.9 KEDD258 122 134 12 1.02
------------------------------------- -----------------------------------
KERC281 93 152 59 1.01 KEDD270 57 63 6 1.04
------------------------------------- -----------------------------------
including 93 94 1 21.27 KEDD270 76 104 28 1.41
------------------------------------- -----------------------------------
KERC282 no significant intercepts including 83 84 1 15.25
(drilled footwall) -----------------------------------
------------------------------------- KERC271 no significant
KERC283 99 109 10 1.9 intercepts
------------------------------------- -----------------------------------
KERC285 no significant intercepts KERC272 9 15 6 2.04
(drilled footwall) -----------------------------------
------------------------------------- KERC272 48 58 10 1.08
KERC286 no significant intercepts -----------------------------------
(drilled footwall) KERC272 75 87 12 0.95
------------------------------------- -----------------------------------
KERC287 no significant intercepts KERC273 12 24 12 0.63
(drilled footwall) -----------------------------------
------------------------------------- KERC273 48 88 40 1.2
KERC288 1 8 8 1.01 -----------------------------------
-------------------------------------
KERC288 104 110 6 1.15
-------------------------------------
KERC289 31 57 26 1.05
-------------------------------------
KERC289 87 114 27 0.84
-------------------------------------President and CEO Dan McCoy states: "We are pleased to see the strength of the system illustrated through the continuity of gold mineralization and additional good results occurring to the south. The combination of moderately dipping geometry, favorable topographic expression, positive metallurgy, continual growth of the known mineralized system, and identification of high grade zones to the south and north, all provide very good indications for a considerable large resource amenable to modern open pit mining and beneficiation techniques." Richard Haslinger, P. Eng. is the Qualified Person with respect to NI 43-101 at Esaase. RC samples were taken at one meter intervals under dry drilling conditions by geologic and resource consultant RSG Global, Inc. utilizing drilling and sampling techniques widely accepted in resource definition studies of other West African gold deposits. All reverse circulation drill samples are weighed on site. All samples are using standard 50 gram fire assay with atomic absorption finish by Transworld Laboratories (GH) Ltd. in Tarkwa, Ghana or SGS Labs in Tarkwa, Ghana. QA/QC programs using internal and external standard samples, re-assays, and blanks indicate good accuracy and precision in a large majority of standards assayed. Intercepts were calculated to emphasize width rather than grade: a minimum of a 0.2 g/t cut off at beginning and end of the intercept and allowing for no more than six consecutive samples (six meters) of less than 0.2 g/t Au. All internal intercepts above 10 g/t Au are reported within the intercept. Intercepts reported have a minimum of 0.6 g/t Au and generally exceed 10 meters in width reported. Mineralization strikes approximately 30 degrees east of north and dips 45 to 60 degrees to the west. The drill holes are oriented 10 degrees south of north and are inclined at 45 degrees to the east, so true widths are estimated to be over 80% of the drilled widths. About Keegan Resources: Keegan is a junior gold company offering investors the opportunity to share ownership in the rapid exploration and development of high quality, pure gold assets. The Company is focused on its wholly owned flagship Esaase and Asumura gold projects located in Ghana, West Africa. Managed by highly skilled and successful technical and financial professionals, Keegan is well financed with no debt. Keegan is also strongly committed to the highest standards for environmental management, social responsibility, and health and safety for its employees and neighboring communities. Keegan trades on the TSX-VEN and on the AMEX under the symbol KGN. More information about Keegan is available www.keeganresources.com. On Behalf of the Board Dan McCoy, Ph.D., President & CEO This release includes certain statements that may be deemed forward-looking statements. All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and those actual results or developments may differ materially from those projected in the forward-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 Location Map for Esaase Drill holes please click on the following link: http://media3.marketwire.com/docs/kgn416map.pdf.
Contact: Contacts:
Keegan Resources Inc.
Investor Relations
(604) 683-8193
Email: info@keeganresources.com
Website: http://www.keeganresources.com
Source: Keegan Resources Inc.
|  | ||||||||||||||
