AMI Resources Inc. (AMU.V) today provide the following
Ghana Anuoro License: The license has been renewed. The Anuoro
license contains a 14 kilometre long mineralized trend coincident
with a narrow tonalitic intrusive that traces the contact between
the Birimian volcaniclastic rocks and Tarkwaian quartzite. This
Anuoro/Wabri trend is interpreted as the southern extension of the
Santreso deposit within the Konongo mining license on the northern
border of the Anuoro license.
The Anuoro/Wabri trend is proven to be mineralized with the
Anuoro North Zone containing a NI 43-101 compliant at surface
resource of 98,000 ounces of gold. The host mineralization is
similar to the Chirano deposit (1.7 million oz) of Kinross on the
Sefwi Belt in Ghana. This northern zone has not been drilled at
depth. The Anuoro South Zone had returned elevated but erratic gold
values from an earlier RC drill program and a review of the
magnetics data suggests that the Anuoro/Wabri mineralized trend may
lie further to the west of the Anuoro South drill grid. Some
significant intercepts from AMI historical drilling in this zone
are: Hole 06ANRC003 14m of 2.35 g/t gold; Hole 06ANRC072 20m of
1.06 g/t gold and Hole 06ANRC073 34m of 1.23 g/t gold.
Illegal mining activities on the southern portion of the Anuoro
license suggests several more target areas that have yet to be
tested. A proposed work program is being finalized to further test
Ghana Beposo License: AMI Africa Exploration Ltd. has launched a
suit against the government of Ghana seeking compensation for the
establishment of non-economic zone around Lake Botsumtwi, which
puts our Beposo resource in jeopardy. A decision on this suit is
expected in 2013.
Niger: Under an Option Agreement, Middle Island Resources
Limited, an Australian public company, has been granted the right
to earn an initial 70% interest in all the Company's assets in
Niger by spending US$2,000,000 in work expenditures and property
payments during a three-year period.
The Company's Niger project consists of the option agreement
with Golden Star Resources Ltd. to earn a 51% interest in the Deba
& Tialkam licenses, along with it's 100% owned Boksay license.
These properties cover approximately 1159 sq km within the Sirba
greenstone belt, which hosts Semafo's Samira Hill mine.
Middle Island has just completed a 6,640 meter auger drill
program over several targets on the Deba permit, with results still
pending. An induced polarization (
) ground geophysical survey is currently underway over the high
priority Tialkam South prospect prior to the commencement of
anticipated 5,000 meter RC drill program.
The Company has agreed to a non-brokered private placement of up
to 6,000,000 Units at the price of $0.05 per Unit. Each unit will
consist of one common share and one half share purchase warrant,
with each warrant entitling the holder thereof to acquire one
common share at an exercise price of $0.10 for a period of one year
from the date of closing.
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