Birim Goldfields Inc.: Work Starts on the Nkenkasu Licence Along the Ahafo Shear on Ghana's Sefwi Gold Belt, 13 Km of Prospective Gold Trend Under Licence.MONTREAL -- Birim Goldfields n. 1. A small slender woolly annual (Lasthenia chrysostoma) with very narrow opposite leaves and branches bearing solitary golden-yellow flower heads; it grows from Southwestern Oregon to Baja California and Arizona; - it is often cultivated. Inc. ("Birim" or "the Company")(TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :BGI BGI Barclays Global Investors BGI Bainbridge Graduate Institute BGI Bureau Gravimétrique International BGI Borland Graphic Interface (File Name Extension) BGI Bridgetown, Barbados - Grantley Adams International ) is pleased to report that exploration is underway on the Company's Nkenkasu Reconnaissance Licence on Ghana's highly prospective Bibiani-Sefwi Gold Belt. Birim's large (650 km2) Nkenkasu Licence is located at the northern end of the Sefwi Gold Belt along the Ahafo Shear and is within 15 kilometers of Newmont Mining Newmont Mining Corporation NYSE: NEM, based in Denver, Colorado, USA, is one of the world's largest producers of gold, with active mines in, Nevada, Indonesia, Australia/New Zealand, Ghana, and Peru. Some smaller operations include Bolivia, Mexico, and Canada. Corporation's ("Newmont") developing Ahafo Gold Mine (see map attached).The Ahafo Gold Mine is comprised of numerous open pittable gold deposits, which align along, and are spatially coincident with the crustal-scale western boundary shear (the Ahafo Shear) of the Sefwi Gold Belt.The Ahafo Shear and its associated splays are proving to be one of the better endowed en·dow tr.v. en·dowed, en·dow·ing, en·dows 1. To provide with property, income, or a source of income. 2. a. gold structures in West Africa West Africa A region of western Africa between the Sahara Desert and the Gulf of Guinea. It was largely controlled by colonial powers until the 20th century. West African adj. & n. . Birim's Nkenkasu concession hosts 13 kilometers of the north-eastern continuation of the Ahafo Shear beyond African Gold Group's adjacent Mankranho Prospecting Licence (see map), where they have defined soil gold anomalies that reveal the possible continuation of the mineralised Ahafo Shear from Newmont's Bisi area at the northern end of their mining leases towards the northern enclave of Birim's Nkenkasu concession. The geology of the Nkenkasu Reconnaissance Licence comprises mainly granitoid rocks with contained rafts of volcanic assemblages. It is noteworthy that to date Newmont's largest defined reserves at Ahafo (Subika) is situated within granite, as are the Chirano gold deposits.In the northeast of the concession Voltaian cover rocks overlie o·ver·lie tr.v. o·ver·lay , o·ver·lain , o·ver·ly·ing, o·ver·lies 1. To lie over or on. 2. To suffocate (a baby, for example) by accidentally lying on top of it. the Birimian rocks.The extent of this cover on the concession is poorly defined; however, airborne magnetics clearly define the continuation of the Ahafo Shear beneath the Voltaian cover.Numerous other highly prospective crustal-scale structures have been interpreted from the airborne magnetics to cross the Nkenkasu concession.It is understood that these structures have not been prospected before. Early mapping is being carried out to define the extent and thickness of the portion of the concession where the Voltaian cover drapes drape v. draped, drap·ing, drapes v.tr. 1. To cover, dress, or hang with or as if with cloth in loose folds: draped the coffin with a flag; a robe that draped her figure. the Ahafo Shear to optimise planning and facilitate subsequent interpretation of soil sampling geochemistry geochemistry, study of the chemical changes on the earth. More specifically, it is the study of the absolute and relative abundances of chemical elements in the minerals, soils, ores, rocks, water, and atmosphere of the earth and the distribution and movement of .The balance of the Nkenkasu concession will be sampled using stream sediment sampling and BLEG (Bulk Leach Extraction of Gold) laboratory analysis to define anomalous drainages. Whilst Newmont's annual reserve statement for 2005 is imminent, the 2004 annual reserve statement and other Newmont public domain literature (August 2005) describe Ahafo's Combined Reserves and Resources from 11 discovered open pittable targets as 15.4 million ounces; 10.6 million ounces of Probable Reserves, 1.7 million ounces Indicated Resources and 3.1 million ounces of Inferred Resources. The Ahafo Gold Mine is scheduled to go into production in the second half of 2006. Historically the Sefwi Gold Belt has produced 3.2 million ounces from Ashanti Anglogold's operating Bibiani Mine, which is situated on the eastern bounding shear of the belt.However recently, and also on this structure, Red Back Mining Inc. have recently commenced production at their Chirano Project which is also located on this structure. Chirano has a combined Reserves and Resources of 3.4 million ounces. A map is also available at the following address: http://www.ccnmatthews.com/docs/mapBirin.jpg Birim Goldfields Inc. is a royalty-based exploration company focused on gold exploration in Ghana and trades on the Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. under the symbol BGI. Birim Goldfields Inc. (TSX:BGI) |
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