Africa West Minerals Corp. (the "Company") is pleased to announce that a 2000m Air Core (AC) and Reverse Circulation (RC) drilling program has commenced on the Nyakagwe Gold Project in Tanzania. The program will drill beneath surface gold in soil anomaly trends and trench anomalies outlined from recently completed exploration programs. The Nyakagwe Gold Project is located 6km north west of Barrick's 10.2 million ounce Bulyankhulu Gold Mine. Africa West Minerals, through their wholly owned subsidiary Gold Rim Exploration Inc. is earning 100% of the Nyakagwe project by bringing the property to the Mining Licence category.
Anomalous gold in soil trends coincide with east -- west and northwest -- southeast trending quartz reefs that have been exposed and exploited by local artisanal miners. Gold in soil anomalies have ranged from 0.08 gAu/t to 0.84 gAu/t. The mineralized trends persist from 180 metres in length to over 800 metres in length. Subsequent trenching on two of the trends has indicated subsurface anomalies from 0.21 gAu/t over 9.0 metres to 0.98 gAu/t over 1.0 metre. Both the trench sampling and the soil sampling were assayed using 500g cyanide bottle roll leaching for 24 hours. This method was employed in order to ensure that any coarse gold in the sample would be dissolved and analyzed. All assays were performed at the SGS laboratory in Mwanza, Tanzania. A regiment of 10% quality control samples as standards and duplicates were used and analyzed.
"We are quite happy to see that the anomalous trends outlined by the surface geochemical sampling are confirmed with subsurface trench results." comments Jeffrey Ackert VP Exploration for Africa West. "It seems that the mineralization seen in the local miners' pits continues along strike and beyond the workings." The AC and RC program has been targeted to drill beneath the stronger gold anomalies and along strike of several of the persistent gold bearing quartz reefs. The program is expected to be completed by the end of October with results available approximately one month later.
In Kenya, the Ngira-Migori Gold Project is undergoing a first phase regional surface geochemical sampling program. The Ngira-Migori property is located in the southern part of Kenya, within the Migori Archean greenstone belt, and adjacent to the past producing gold and copper McCalder Mine. Mineralization in this area is characterized by gold in quartz reefs as well as gold associated with massive to disseminated sulphides. Surface grab sampling at two of the mineralized reefs returned from 30ppb to 16.7 gAu/t.
Also in Kenya, the Rosterman Gold Project, is undergoing a compilation of available historic data in order to produce a three dimensional geological model. Located near the town of Kakamega in the Western Province, it is the site of the past producing Rosterman Gold Mine. The mine was worked to a depth of 2000 feet between 1935 and 1952 and produced over 250,000 ounces of gold at an average grade of 13.6 gAu/t. Gold mineralization at the Rosterman Mine is typically associated with stacked sigmoidal quartz reefs hosted within and adjacent to a diorite.
The technical content of this news release has been prepared under the supervision of Jeffrey Ackert who is a Qualified Person under National Instrument 43-101.
The Company also announces a non-brokered private placement, subject to regulatory approval, of up to 2,000,000 units of the Company at a price per Unit of $0.15. Each Unit consists of one common share of the Company and one-half of one non-transferable share purchase warrant, each whole warrant entitling the holder thereof to acquire one additional Common Share of the Company at a price of $0.25 per share for a period of 24 months from issuance, subject to accelerated expiry in certain circumstances. All securities issued will be subject to a four month hold period from the date of issuance. The proceeds from the private placement will be used, in part, to make payments for, and conduct exploration on, the Company's properties and for general corporate purposes. Finder's fees in amounts to be determined will be paid to certain arms' length investors.
For additional information, please contact:
James T. Gillis, President
Telephone: (250) 314-0186
Jeffrey S. Ackert, VP Business Development and Exploration
Telephone: (613) 851-7699
This news release contains certain statements that may be deemed "forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although Africa West believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of Africa West's management on the date the statements are made. Africa West undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change, except as required by law.
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