🕐19.09.08 - 18:30 Uhr
KEEGAN CONTINUES TO RECEIVE EXCELLENT RESULTS FROM DRILLING SOUTH OF ESAASE GOLD RESOURCE
TSX-V: AMEX AMEX: KGN
KEEGAN CONTINUES TO RECEIVE EXCELLENT RESULTS FROM DRILLING SOUTH OF ESAASE
GOLD RESOURCE
Vancouver, BC, September 18, 2008 - Keegan Resources Inc.
("Keegan") is
pleased to announce additional results from step out drilling up to 900
meters south of the boundary of the existing 43-101 resource at the Esaase
property.
Highlights include 23 m @ 4.2 g/t Au, 26 m @ 2.51 g/t Au, and 26 m
@ 1.49 g/t Au.
Keegan is continuing to test mineralization in the south
extension of the A-1 zone both down and up dip of previous drilling.
The
drill holes in this area continue to consistently intersect significant
grade-widths in the moderately west dipping basal zone of mineralization,
and to date, all intercepts have been encountered at a relatively shallow
depths, Please see www.keeganresources.com for a drill hole location map.
Table 1: Intercepts from south step out drilling at the Esaase property
having a minimum grade-width of approximately 15 g/t Au x meter.
Intercepts
with grade-widths of approximately 40 g/t Au x meter or higher are bolded.
Distances are in drilled meters and grades reported in g/t Au.
Hole ID
From
To
Width
grade
Hole ID
From
To
Width
grade
KERC474
64
75
11
1.57
KEDD480
163
189
26
1.49
KERC474
110
144
34
0.54
KEDD480
235
245
10
2
KERC474
186
198
12
2.35
KERC481
35
58
23
4.2
KERC475
138
152
14
2.21
including
41
44
3
15.92
including
139
140
1
19.7
including
48
49
1
10.1
KERC476
240
245
5
4.2
including
57
58
1
13.4
including
242
243
1
16.2
KERC481
109
119
10
1.071
KERC479
33
44
11
1.51
KERC482
82
92
10
2.97
KERC479
198
224
26
1.27
KEDD483
141
167
26
2.51
KEDD480
111
116
5
3.54
including
162
163
1
53.2
including
113
114
1
16.3
KERC484
240
249
9
1.75
President and CEO Dan McCoy states: "We are continuing to make significant
additions to the Esaase deposit at relatively shallow depths which is key to
the successful development of an efficient, modern open pit gold mine.
Regionally, these results also complement the results of recent surface
exploration from the adjacent Jeni mining lease and continue to illustrate
the excellent and evolving potential for the district to become a
significant Ghanaian gold producer.
We expect to continue to rapidly
advance exploration and engineering efforts at Esaase during the coming
months."
Richard Haslinger, P.
Eng.
is the Qualified Person with respect to NI 43-101
at Esaase.
RC samples were taken at one meter intervals under dry drilling
conditions by geologic and resource consultant RSG Global, Inc.
utilizing
drilling and sampling techniques widely accepted in resource definition
studies of other West African gold deposits.
All reverse circulation drill
samples are weighed on site.
Drill core is HQ diameter and is split logged
and sampled on site.
All core and RC samples are assayed using standard 50
gram fire assay with atomic absorption finish by Transworld Laboratories
(GH) Ltd.
in Tarkwa, Ghana, SGS Labs in Tarkwa, Ghana, or ALS Chemex Labs in
Kumasi, Ghana.
QA/QC programs using internal and external standard samples,
re-assays, and blanks indicate good accuracy and precision in a large
majority of standards assayed.
Repeatability in duplicate samples is
generally within 10% variance.
In instances where variance is greater than
10%, the assays from both samples are averaged.
Intercepts were calculated
to emphasize width rather than grade: a minimum of a 0.2 g/t cut off at
beginning and end of the intercept and allowing for no more than six
consecutive samples (six meters) of less than 0.2 g/t Au.
All internal
intercepts above 10 g/t Au are reported within the intercept.
Intercepts of
less than 15 g/t Au x meter grade-thickness are not routinely reported.
Mineralization in the A structure strikes approximately 10 to 30 degrees
east of north and dips 45 to 90 degrees to the west.
Holes are drilled at
110 degrees azimuth and are inclined at 45 to 60 degrees, so true widths are
estimated to be over 80% of the drilled widths.
About Keegan Resources
Keegan is a junior gold company offering investors the opportunity to share
ownership in the rapid exploration and development of high quality, pure
gold assets.
The Company is focused on its wholly owned flagship Esaase and
Asumura gold projects located in Ghana, West Africa.
Managed by highly
skilled and successful technical and financial professionals, Keegan is well
financed with no debt.
Keegan is also strongly committed to the highest
standards for environmental management, social responsibility, and health
and safety for its employees and neighboring communities.
Keegan trades on
the TSX-VEN and on the AMEX under the symbol KGN.
More information about
Keegan is available www.keeganresources.com
.
On Behalf of the Board
Dan McCoy, Ph.D.
President & CEO
For more information please visit the company website at:
www.keeganresources.com or contact investor relations at 604-683-8193 or
.
The TSX Venture and AMEX Exchange have not reviewed and do not accept
responsibility for the adequacy or the accuracy of this release.
This release includes certain statements that may be deemed forward-looking
statements.
All statements in this release, other than statements of
historical facts, that address future production, reserve potential,
exploration drilling, exploitation activities and events or developments
that the Company expects are forward-looking statements.
Although the
Company believes the expectations expressed in such forward-looking
statements are based on reasonable assumptions, such statements are not
guarantees of future performance and actual results or developments may
differ materially from those in the forward-looking statements.
Factors that
could cause actual results to differ materially from those in
forward-looking statements include market prices, exploitation and
exploration successes, continued availability of capital and financing, and
general economic, market or business conditions.
Investors are cautioned
that any such statements are not guarantees of future performance and those
actual results or developments may differ materially from those projected in
the forward-looking statements.
For more information on the Company,
Investors should review the Companys filings that are available at
www.sedar.com.