Gold Exploration in West Africa

[FL]

NEW: White Knight Investments (WKI on London AIM)

White Knight Investments PLC (formerly called Viking Internet PLC) has some gold concessions east of the town of Wa in northern Ghana, on which the Norwegian miner Kenor -- now Guinor (GNR.TO) -- has prospected. This area is within the remote, ethnically troubled Muslim zone of Ghana. Some known British gold investors formed Mistral Resources with the Ghana licenses and then merged it into Whight Knight, up to then a shell company.

According to Minesite, "These men are putting their reputations behind White Knight which, following the reverse deal with Mistral, had two projects under option – the Wa project on the Birimian greenstone belt in the Upper West region of Ghana and the Manica project in Mozambique. The interim report indicates that a certain amount of exploration work has taken place at both during the early months of 2004. Both projects have significant delineated areas of mineralisation and several identified drill targets. Earlier this year the project data at the Wa project was reviewed and updated and the geological and regolith mapping was extended. A major drilling programme will be based on the results of this review and reinterpretation. The focus is likely to be on the highly prospective mineralised cross cutting structures identified on the Julie prospectand it will start towards the end of October when the rainy season should have ended and equipment can access the site."

See this week's:
http://www.minesite.com/archives/news_archive/2004/july-2004/whiteknight050704.htm

and earlier:
http://www.minesite.com/archives/features_archive/2003/Nov-2003/whiteknight061103.htm

The following announcement is the official source of information about the company:

http://moneyam.uk-wire.com/cgi-bin/articles/200406280700221867A.html

Here are relevant excerpts; no specific drill intersections are given for the Ghana properties (some are given for a Mozambique property).
===================
White Knight Investments PLC
28 June 2004

WHITE KNIGHT INVESTMENTS plc
Interim Statement and Operational Review

Highlights
* Appointment of Managing Director
* Proposed change of name of the company
* Highly prospective mineralised cross cutting structures identified on the
Julie Prospect, Wa Gold Project, Ghana
* Significant intersections of mineralisation identified to depths of 120
metres on the Andrada Zone, Manica Gold Project, Mozambique
* Interim Results

Introduction
...
During the period the company acquired 100% of Mistral Resource Development Corporation Limited 'Mistral'. Mistral is a significant African focused exploration and development company, which has acquired options over two significant properties located in Mozambique and Ghana.
...

Change of Company Name
The Board proposes to change the name of White Knight to Pan African Resources plc to reflect the group's expanded activities in the sector. A Resolution to this effect will be proposed at White Knight's next General Meeting.

[ This seems like an uninspired choice of name, especially since that's already the name of a former Canada-traded company and now a unit of Golden Star. Gents, be a little creative! FL ]

Exploration Activities Update
In late 2003, the White Knight acquired 100% of the share capital of Mistral Resource Development Corporation Limited 'Mistral'. Mistral is a significant African focused exploration and development company, which has acquired options over two significant properties:
* The Wa Gold Project, located in Ghana and
* The Manica Gold Project, located in Mozambique.

Both projects have significant delineated areas of mineralisation and several identified drill targets, with considerable upside potential. White Knight is encouraged in the assessment of the two gold projects by the results of its recent exploration activities.

Wa Gold Project
The Wa Project is located in the Upper West Region of Ghana, approximately 50km east of the regional capital Wa, and comprises three exploration licences, Julie, Collette and Josephine, totalling 304 square kilometres. Ghana is a major gold producing country.

The project situated in an area of Birimian greenstones and granites in an arcuate belt, which represents the junction between the north-south trending Lawra Belt and the northeast trending Bole-Navrongo Belt. The geological setting of the project and the range of mineralisation styles identified to date are comparable to major Birimian hosted gold deposits in the south of Ghana and elsewhere in West Africa.

Exploration activities on the Wa Gold Project continued with the commencement of a review and update of the project data, extension of the geological mapping and regolith mapping.

Mineralised north-south trending quartz veins have been identified cutting across the 3.5km drill tested section of the shear zone in granodiorite on the Julie Prospect, in which resource potential has been demonstrated previously. These intersections are considered to be highly prospective.

The shear zone has been traced over more than 6kms of strike length while the mineralisation identified to date is open at depth and along strike.

Initial regolith mapping at the Collette Prospect has enabled the commencement of an improved understanding of the geology of the area.

The review and reinterpretation of the remote sensing, geophysical,topographical and geochemical data, which have been collected over a period of 7 years, with the enhanced techniques now available, will continue through the impending rainy season.

A major drilling programme will be based on the results of the review and reinterpretation and is scheduled to be initiated at the end of the rainy season (estimated to be late October 2004), when drill equipment can access the site.
...
============================