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06.04.2005 Business & Finance

African Gold expects good Ghana results

By BizWorld
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Irish precious metals explorer, African Gold, today said it is confident that gold resources from the Konongo mining licence in Ghana will exceed initial estimates of more than 950,000 ounces.

The company said it now has two potential mines on the Konongo licence. It also said results were encouraging from the Banka mining licence, about 50 kms to the south of Konongo, and that a 40-hole drilling programme covering 2,500 metres will start shortly.

"We are delighted with these results," said co-chairman Oliver Baring. "The initial results at Banka are particularly encouraging as they indicate that the licence may host a new significant gold resource," he added.

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