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The Nyankumasi concession is located 30 km south-southwest of Newmont Mining's 5.4 million ounce Akyem project (slated for production in 2008, following the construction of a US$550 million processing plant), and approximately 48 km east of AngloGold Ashanti's Obuasi mine.
Three significant gold-in-soil anomalies, known as the "Linear", "Central" and "Northern" anomalies have been identified at Nyankumasi. The Phase I diamond drill campaign focused on testing the southern most "Linear Anomaly", where a recently completed geo-chemical survey identified a gold-in-soil mineralized strike length measuring approximately 4 km in length (see attached map). Our 2006 exploration program was intended to evaluate the resource potential of the entire Nyankumasi concession and it included a RC and diamond drill program. The results are shown in the table below:
The primary focus of AGG drilling was the main gold geochemical anomaly and secondly, the copper gold anomaly along the same structure further to the east. The single hole drill sites are at least 300 meters apart along the three kilometers tested. This demonstrates the wide spaced nature of our first pass at this zone. All holes intersected a broad zone of sheared Birimian volcanics in contact with Tarkwain sediments. This faulted contact is consistently mineralized with pyrite, pyrrhotite and chalcopyrite and variably enriched in copper, zinc, gold and silver, truly a unique situation in the history of Ghanaian exploration and it remains wide open in all directions. The exploration results are listed below in the order that we received them. Click on the respective title to view each press release in its entirety: November 10/06 September 21/06 2006 Exploration Work Progress Meets Expectations September 16/06 August 09/06 African Gold Group, Inc: 2,000 Metre Diamond Drill Program Commences at Nyankumasi, Ghana
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