www.keeganresources.com
Keegan Resources Inc. is a well-financed junior gold company run by a proven successful management team, with two premier gold assets in Ghana, West Africa. Keegan's flagship property, the Esaase gold deposit has become a world class as confirmed by the latest resource update performed in February, 2009. Keegan's second project, the Asumura gold property, is located along one of Ghana's largest and most productive gold structures, which contains over 19 M oz of gold reserve and resource. Keegan has had previous success in drilling the property, including a reconnaissance drill intercept of 14 meters of 4.5 g/t gold drilled in 2008. In addition to follow-up on this intercept, Keegan plans to drill several other targets.
Keegan Resources says metallurgical test work indicates 93 pct recovery possible at Esaase gold project, Ghana
Keegan Resources Inc (TSX, NYSE Amex: KGN) said metallurgical tests on samples from the Esaase gold property in southwest Ghana indicate it is possible to reach an oxide and fresh gold recovery rate of 93 percent.
The findings will be incorporated into a Preliminary Economic Assessment for the deposit.
Tests were conducted at Amdel Ltd in Perth during the first three quarters of 2009. The program examined a number of conventional processing options including whole ore cyanidation and gravity gold recovery followed by carbon in leach cyanidation. Test work was conducted on core samples from both oxide and fresh material from the Esaase deposit.
Keegan has published a string of positive drilling results in the year so far on its flagship project, the latest one on Oct 16, when it said infill drilling to the north up to 700 meters along strike from the current Esaase resource into a new undrilled area showed more “excellent results”. Keegan is incorporating these results into its existing resource model and in its planning for the next stage of drilling in this area.
The NI 43-101 compliant resource calculation dated February 2009 indicates a 2.025 million ounce indicated and 1.451 million ounce inferred resource at Esaase averaging 1.5 g/t and 1.6 g/t Au respectively at a cutoff grade of 0.6 g/t Au. Keegan said at the time this confirmed Esaase as a world class gold resource.
The company also holds 100 percent of the exploration licence of the Asumura property in southwest Ghana on the western boundary of the Sefwi-Bibiani belt, which is one of three major gold producing belts in southwest Ghana.
The deposit is 65 km southwest from Newmont's Ahafo deposits which has reserves of 12.2 million ounces at 2.21 g/t Au, with a total reserve and resource over 17 million ounces. The targets at Asumura are disseminated open pit gold deposits.
