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Ghana Gold Releases Findings from the Bankable Pre-Feasibility Study on its Central African Republic Concessions – “3.88 Million Ounces of Gold”
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Fort St. Lucie, FL (eTeligis via ACCESSWIRE) 7/9/2013 8:00:00 PM - Ghana Gold Corp (OTC PINK: GGCO) today released findings from its Bankable Pre-Feasibility Study on its newly acquired Central African Republic Gold Concessions.
According to the company, the Bankable Pre-Feasibility Study was sanctioned on behalf of Ghana Gold by its majority shareholder the WSA Global, the Project Integrator of the World Sports Alliance Intergovernmental Organization and was produced by the World Sports Alliance International Business Consortium's group of engineers for the purpose of concluding the necessary requirements for financing.
The Bankable Pre-Feasibility Study was performed on the Gold mining rights in 5 gold mining concessions awarded to Ghana Gold by the WSA, particularly the Ouham-Bac, Dimbi, Kotto-Bangana North, South and Bania, which together cover a total of 3,867 KM2.
The Ouham-Bac Gold concession is located west of the city of Bossangoa, approximately 400 KM North West of the Capital City of Bangui. This concession is 500 KM2 and is mainly associated with the Ouham River, its tributaries and inter-fluvial areas. Based on relevant geological data and reports, the Ouham-Bac Gold Concession where used as the basis for complementary exploration surveys, mine planning, ore preparation and processing studies. Recent artisanal mining has indicated gold grades of 5.0-7.5 grams/ M3 from the Ouham River and adjacent terraces areas. The Gold concession has more than 50 KM of rivers, associated terraces, flood plains which can be dredged during the initial exploration and semi-industrial mining. The WSAIBC's preliminary estimate of global alluvial broadly exceeds 30 million tons of mineralized gold gravel, which would alone generate more than 110,000 Kg of gold or approximately 3.88 million ounces of gold.
Further to the results of the study, the Gold mining operation is scheduled to begin on the Ouham-Bac permit area in the fourth quarter of 2013, which will involve semi-industrial dredging operations, hydraulic mining and airborne geomagnetic surveys.
"This study is a very important milestone for our company. It provides for the foundation of our work program towards becoming a major producer" said Mac Shahsavar, Chairman and CEO of Ghana Gold Corp. "We would like to thank our majority shareholder for their efforts in obtaining this study on our behalf" further added Mr. Shahsavar.
The company expects to release its complete Bankable Pre-Feasibility Study on its new website towards the end of the month of August.
About Ghana Gold Corp.
Ghana Gold Corp. is a gold exploration and alluvial gold production company with properties in the Republic of Ghana. Ghana Gold Corp. seeks to expand operations to other neighboring African countries, which have great gold mining opportunities.
Investor Relations: ir@ghanagoldcorporation.com or info@ghanagoldcorporation.com
