Ghana Gold Corporation Announces Resource Information on Additional
Concessions Acquired from West African Projects Consult Ltd
(WAP)
PORT ST. LUCIE, Fla., Jan. 22, 2013 /PRNewswire/ -- Ghana Gold
Corporation; OTC (GGCO-PK Sheets) previously announced the
acquisition of 100% of the assets of WAP and resource information
on the Jukwa concession which is currently in production. The
company is pleased to announce additional resource information on
other concessions licensed WAP that are now owned and managed by
Ghana Gold Corporation.
The Ahenkro Concession consisting of 102 sq. km is similar to
the Jukwa Concession as a large land mass within the Ashanti Gold
Belt. The Ashanti Gold Belt is responsible for most of
Ghana's 120 million ounces of
production as one of the most prolific gold production areas in the
world. The concession is ideally located approximately 45 KM
northwest of Kumasi, Ghana's
second largest city, on the northern end of the Ashanti Gold Belt.
Ghana Gold is completing the license to begin operations at
Ahenkro as this concession offers broad opportunities. This
Concession boasts premier low laying alluvial features as well as
potential hard rock opportunities within Palaeoproterozoic rock
formations that have historically hosted major gold deposits in
Ghana. This concession will be a major focus of the company
based upon the geological setting, current findings and proven
reserves in similar locations at the North West fringe of the
Ashanti Gold Belt. These include: Owere Mines 4m+ Konongo
property, Perseus Mining 3m+ and perhaps the world's most
incredible and enduring discoveries, Anglo
Gold Ashanti in Obuasi which has already uncovered more than
50M oz with perhaps the same amount still unearthed.
Management is assessing geological data and working with local
geologists well familiar with the land structure of this region to
determine and implement test programs at Ahenkro to identify hard
drilling programs to measure the concessions hard rock feasibility
beginning summer of 2013. Meanwhile the Company will continue
to identify and harvest alluvial production sites within the
concession for additional revenues.
Two additional concessions Grumesa on the Ofin River and
Brofyerdrom at the River Pra consist of over 2,000 acres of
pristine property benefiting from two of Ghana's most prolific rivers. Grumesa is
a smaller footprint for alluvial mining located directly on the
shores of the Ofin River. The Brofoyedro at the River Pra
concession is adjacent to The Pra River. Ghana Gold holds an
option to develop these properties. Located in Ghana's Central Region, the Brofoyedro is
mid-way between Ghana's largest
cities of Kumasi and the capital of Accra. Ofin and Brofyerdrom both alluvial
mining site offering long term potential for the company.
Robert Kirkcaldy, COO stated
"Ghana Gold is benefiting from the tremendous early work
completed by WAP on these four concessions. Our immediate
goal is to increase alluvial production in the most efficient way
possible to grow company revenues and cash flow. This is
being accomplished with geo-technical sampling and analysis to find
the optimal location for current operations as well as acquiring
additional resources and equipment to expand current production.
The potential of these concessions, given their proximity to
such large proven mines is extremely exciting and bodes well for
the company especially the hard rock potential at Ahenkro."
The company's website is www.Ghanagoldcorporation.com
Robert Kirkcaldy, President and
COO
Ghana Gold Corporation
For further Information and inquiries please call:
866-340-3095.
FORWARD LOOKING STATEMENTS
Certain statements in this release, other than statements of
historical fact, may include forward-looking information that
involves various risks and uncertainties. There can be no assurance
that such forward-looking statements will prove to be accurate.
Actual result and future events could differ materially from those
anticipated in such statements. These and all subsequent written
and oral forward-looking statements are based on the estimates and
opinions of management on the dates they are made and expressly
qualified in their entirety by this notice. The Company assumes no
obligation to update forward-looking statements should
circumstances or management's estimates or opinions change, other
than as required pursuant to applicable securities laws.
SOURCE Ghana Gold Corporation
