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07.07.2005 Business & Finance

Significant new gold resources

African Gold says drilling confirms significant new gold resources at Ghana site

LONDON (AFX) - AIM-listed mining and exploration group African Gold PLC said test drilling at its Konongo site in Ghana suggests previous estimates of gold resources at the site will be easily surpassed.

The group said it has finished a second round of drilling on the Obenemase and Leopard prospects in the area as well as initial drilling on the new Boabedroo prospect.

It said: "The strong results from all three prospects confirm the company's view that the gold resource within the Konongo licence, presently in excess of 950,000 ounces, will be substantially exceeded.

"In particular, the Leopard and Boabedroo prospects show promise of hosting significant new gold resources at shallow depth."