|By PR Newswire||
|January 23, 2013 08:20 PM EST||
PORT ST. LUCIE, Fla., Jan. 23, 2013 /PRNewswire/ -- Ghana Gold Corporation; OTC (PINK SHEETS: GGCO) is pleased to announce plans to expand operations at the Jukwa concession based upon findings of the Company's Principal Geologist Kwabena Ata Mensah.
Based upon review of earlier geo-technical reports, fire assay testing completed by ALS Chemex Laboratories as well as more recent sampling, Mr. Mensah reports the following finding to the Company. The regional geology is underlain by Birimian metasediments within the Asrankagua Belt. Porphyry and granite intrusive have been noted to be host of significant gold mineralization similar to the Golden Star 200,000 + oz @ 3.3 gpt Pampe mine directly to the southwest. This permit also lies within "Ghana's Golden Triangle that has produced 168 million oz of gold. Earlier work confirms both alluvial and lode gold mineralization. A major southwest trending zone in the central parts of the concession have shown a persistent 10ppb Au anomalous zone with further testing indicating a potential of 220,850 oz at up to 2.5gpt over a composite area and will be designated as the second target area for alluvial mining. An additional alluvial zone in the southwestern corner that drains the gold bearing ridges in the central parts of the permit and would be our major alluvial target.
The Company's current operations in the southern target zone have been producing just under 1gpt from composite area. Based upon these findings Management intends to expand operations to the second alluvial target zone and initiate hard rock drilling testing in two host locations in the southern portion of the permitted area. This geology and findings are similar to adjacent gold deposits of PMI (4.0 million oz) and even more importantly Keegan Resources Ltd (4.9 million oz).
Robert Kirkcaldy, COO states "Mr. Mensah's local knowledge and experience in Ghana have been extremely valuable as Management makes plan for 2013. As previously stated the Jukwa concession is massive and will afford many opportunities to the Company well into the future. It is important to understand this is the just the beginning as we discover the true potential of these reserves."
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