Thursday, 21st October 2004 (2657 views)

African Gold has announced it has made further gold discoveries at its Konongo project in Ghana.

The mining firm has found substantial gold mineralisation in nine additional holes after further drilling work and all nine have good gold grades.

Mining results follow discoveries first made in September from the first five holes at the site in the Ashanti Gold Belt.

Co-chairman, John Teeling, said: "We now have 14 holes all reporting commercial grade gold mineralisation. The current drilling programme is on one of nine ore bodies on our licence, all showing similar geological characteristics.

"We estimated a gold resource of 900,000 ounces. This looks easily obtainable and may be conservative."

A host of other holes have also been completed and are currently under analysis with reports to be released in the near future.

Drilling is still continuing at the site.

 

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