PORT ST. LUCIE, Fla., Feb. 7,
2013 /PRNewswire/ -- Ghana Gold Corporation; (PINKSHEETS:
GGCO) is pleased to announce it has complied with all requirements
of Ghana's Minerals Commission and
expects to undertake a Two Phase test program for the Ahenkro
Concession.
The 102.5 sq km Ahenkro Concession is strategically located on
the northern tip of the Asrankagua Belt which is currently the new
frontier for Gold discoveries on the eight Birimian hosted
greenstone gold belts of Ghana.
The Company plans a two phase test program to identify alluvial
zones and prove up hard rock gold reserves. Phase I
will include stream sediment sampling, interpretation of airborne
geophysical studies, structural mapping and soil sampling.
Phase II testing will include trenching and exploratory
drilling. Based on preliminary studies, Mr. Kwabena Mensah, Principal Geologist, believes
that the initial focus of the drill program will be within the
central portions of the permit where there is evidence of
structurally controlled metasedimentary rocks within granitoid
formations. First stage of planned drilling will require
25-35 drill holes using a Rotary Air Blast "RAB" drill
rig.
The Ahenkro appears to share many similar geo-tectonic
similarities and in close proximity to proven gold reserves of some
of the major companies in the industry including AGA's historical
mine at Mpesetia and Keegan Resources' Esaase project which hosts
an estimated 5.1 million ounces.
While conducting this two phase test program, the Company plans
with approval from the Minerals Commission to commence alluvial
mining. The geomorphological setting of the Ahenkro is
ideal for alluvial mining as one of Ghana's major waterways, the Ofin River
meanders the Central portions of the concession. The
proximity to the Ofin River and within structurally controlled
metasedimentary rocks suggests great alluvial potential for this
area.
The Ahenkro and Offinso area in general has been untouched by
local Galamsey (illegal miners) due to the watch of the area's
authorities and also the custodial influence of the local elders
safeguarding of the water supplies that feed Ghana's second largest city, Kumasi.
Current mining technology utilized by the company does not affect
waterways and has created this opportunity to mine this
area.
Mr. Robert Kirkcaldy, President
and COO of Ghana Gold Corporation, commented, "We look forward to
commencing further tests and get started with production. The
local 'Nanas' have been vigilant in protecting of this area.
Ghana Gold will continue to safeguard the environment and profit by
working on near-virgin lands."
The company's website is
www.Ghanagoldcorporation.com
Robert Kirkcaldy, President and
COO
Ghana Gold Corp
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
