|By PR Newswire||
|January 17, 2013 07:31 AM EST||
PORT ST. LUCIE, Fla., Jan. 17, 2013 /PRNewswire/ -- Ghana Gold Corporation; (PINKSHEETS: GGCO) is pleased to announce the following information on its Jukwa Concession.
Ghana Gold holds a Joint Venture mining development agreement with Pioneer Projects & Services Ltd, the License owner of the Jukwa Concession (Pioneer). Ghana Gold acquired these rights with the acquisition of the West African Projects (WAP), which has benefited from this production since completion of their agreement with Pioneer in January of 2012.
Terms of the JV agreement give Ghana Gold 40% net of all production from the site. The 133.3 sq. km Jukwa Concession is situated at the central portion of the Kumasi basin in the Ashanti Asankragwa belt, one of Ghana's main gold belts. Testing has been ongoing since 2009 and will continue which includes mapping, geochemical soil sampling, pitting and trenching for alluvial and rock sampling. Auriferous gravels were discovered both in valleys and on terraces along the banks of the Ankobra River. Production at the site commenced February 2011 on less than 3% of the land area and has produced over 31,000 grams over 23 months, or an average of 1,347 grams per month.
Robert Kirkcaldy, President and COO of Ghana Gold commented that, "The Company will continue its strategy to harvest alluvial gold while conducting Junior Mining hard rock testing. The Jukwa concession is truly enormous and with the implementation of additional equipment, Ghana Gold is confident that monthly production will increase."
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