Birim Granted Three New Concessions on the 20 Million Ounce Bibiani-Sefwi Gold Belt, Ghana.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. (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 ) ("Birim" or "the Company") is pleased to announce that it's wholly-owned subsidiary, Birim Goldfields Ghana Limited, has been granted three exclusive Reconnaissance  This article or section needs copy editing for grammar, style, cohesion, tone and/or spelling.You can assist by [ editing it] now. Licences on the prominent Bibiani-Sefwi Gold Belt in Ghana.In each of these concessions, Birim holds 100% of the available 90% equity, and the Government of Ghana holds a statutory 10% free-carried interest. The addition of these three new concessions (totalling 1,189 km2) to the Company's existing four-concession portfolio (-7,000 km2) on the Bui Belt establishes Birim as one of Ghana's largest mineral rights holders. It also reflects the Company's continued commitment to gold exploration in this highly prospective region and reinforces the healthy relations that the Company enjoys with the Ghanaian government.The attached map outlines the position of the new Reconnaissance Licences relative to the key geological ge·ol·o·gy n. pl. ge·ol·o·gies 1. The scientific study of the origin, history, and structure of the earth. 2. The structure of a specific region of the earth's crust. 3. A book on geology. and resource factors in Ghana. The Company's selection of the newly granted Reconnaissance Licences was based upon an in-house re-interpretation of the prospective geological settings in the Bibiani Belt, combined with the proximity to growing development projects. Birim's new Nkenkasu Reconnaissance Licence (650 km2) straddles the northern extension of the Bibiani Belt within the Birimian Supergroup, and contains numerous prospective structures that are known to be associated with pods of mineralization Mineralization The process by which the body uses minerals to build bone structure. Mentioned in: Rickets mineralization, n the bioprecipitation of an inorganic substance. similar to those connecting the neighbouring chain of Newmont's Ahafo Project deposits to the southwest.The Bia Tano Reconnaissance Licence (51 km2) is located within the influence of the western bounding shear shear: see strength of materials. Shear A straining action wherein applied forces produce a sliding or skewing type of deformation. of the Bibiani Belt, and lies close to the controlling structures that underlie the Ahafo Mining Leases.The Banda Ahenkro Reconnaissance Licence (488 km2) was selected to identify resources that Birim believes could be associated with the important western bounding shear structures of the Bibiani Belt. The Bibiani-Sefwi Gold Belt has produced a total of 3.2 million oz. of gold historically, and contains at least 20 million ounces of gold.All of the historical production has come from Ashanti-AngloGold's operating Bibiani Mine, which hosts a current resource of 1.9 million ounces gold.Current developing mines include Newmont's Ahafo Project, which has a current total resource of 11 million ounces and Red Back Mining Inc.'s Chirano Gold Project, which has a total current resource of 2.35 million ounces.There are also several other known pods of mineralization along this Belt. Birim Goldfields Inc. is a royalty-based exploration company 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. A map is available at the following address: http://www2.ccnmatthews.com/database/fax/2000/bgi0504.doc Birim Goldfields Inc. (TSX:BGI) |
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