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Message: Reports Positive Results of Screen Fire Assay Test From Esaase Gold Deposit
| March 2, 2009 | |
| Keegan Reports Positive Results of Screen Fire Assay Test From Esaase Gold Deposit | |
VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 2, 2009) - As part of its metallurgical studies on the Esaase deposit, Keegan (TSX:KGN)(NYSE Alternext US:KGN) has performed Screen Fire Assay (SCA) Tests on representative ore intercepts as a supplementary test of the standard 50 g fire assay (FA) technique currently employed in resource estimation. The results indicate that the SCA results average 28% higher than the FA used in the recent resource calculation released February 27, 2009, suggesting that the FA likely provides a conservative, minimum estimate of the gold grade of the deposit (Table 1). Table 2 and Figure 1 provide a rationale for the higher grades in the SCA: they indicate a significant percentage of coarse gold in the sample set (25%) that is not being captured by the standard (FA) technique. Figure 1 indicates that there may be two populations of samples in the Esaase deposit; one (fine gold samples) whose grades are estimated adequately and equally by SCA and FA and another (coarse gold samples) whose grades are only adequately estimated by SCA. As this could have positive implications for the overall grade of the Esaase deposit, Keegan is designing additional tests. Table 1: Average Screen Fire Assay (SCA) Grade compared with standard fire
assay (FA) n equals 103
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% increase in grade:
SCA (g/t Au) FA (g/t Au) SCA over FA
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3.27 2.56 28%
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Table 2: Breakdown of gold in coarse (CF) and fine (FF) fraction in SCA
samples n equals 103
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SCA CF SCA FF Total CF wt. total FF wt. % total % total
(g/t) (g/t Au) (g) (g) Au CF Au FF
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17.17 2.53 45.89 935.01 25% 75%
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Dan McCoy states, "We are happy to see that the screen fire assay is confirming that our standard fire assay is accurately measuring the fine gold that occurs in the Esaase deposit. However, it the SCA also appears to be detecting coarse gold that the standard fire assay was missing. This suggests that the new resource estimate released February 27th may underestimate both the grade and the total gold present in the Esaase deposit. We are designing a phased study to assay additional samples from the deposit using screen fire assay in order to gain a better understanding of how much additional coarse gold may be present." Richard Haslinger, P. Eng. is the Qualified Person with respect to NI 43-101 at Esaase. Samples were taken from core sample splits from four different locations in the deposit where resource has been identified. The samples were analyzed for gold at ALS Chemex Lab in Kumasi using standard 50 gram fire assay with atomic absorption finish and Screen Fire Assay. The main difference between the two techniques is that the 50 g fire assay employs a 50 g split from the entire one kg sample, whereas the screen fire assay assays the entire +100 mesh coarse split from a one kg sample along with a 50 g split from the under 100 mesh and uses a weight normalized value. About Keegan Resources Keegan is a junior gold company offering investors the opportunity to share ownership in the rapid exploration and development of high quality, pure gold assets. The Company is focused on its wholly owned flagship Esaase and Asumura gold projects located in Ghana, West Africa. Managed by highly skilled and successful technical and financial professionals, Keegan is well financed with no debt. Keegan is also strongly committed to the highest standards for environmental management, social responsibility, and health and safety for its employees and neighboring communities. Keegan trades on the TSX and the NYSE Alternext US under the symbol KGN. More information about Keegan is available at www.keeganresources.com. On Behalf of the Board Dan McCoy, Ph.D., President & CEO |
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