🕐20.08.08 - 17:30 Uhr
News Release: KEEGAN ANNOUNCES APPOINTMENT OF ENVIRONMENTAL MANAGER AND PROVIDES PROJECT UPDATES
KEEGAN ANNOUNCES APPOINTMENT OF ENVIRONMENTAL MANAGER AND PROVIDES PROJECT
UPDATES
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TSX-V: KGN AMEX: KGN
Vancouver, BC, August 20, 2008 - Keegan Resources Inc.
("Keegan") is pleased
to announce that it has contracted Graham Johnson to be its Health, Safety,
Environment, and Community Manager.
Mr.
Johnson was formerly a Principal
with Coffey Natural Systems in Perth, Australia where he led environmental
and community baseline studies for various mining and exploration companies
throughout Australia and Africa.
Prior to that position, Mr.
Johnson was
Environmental Manager for the Sadiola Hill and Yatela Gold Mines for
Anglogold Ashanti Ltd.
in Mali.
Project updates
Esaase:
Keegan has drilled 103,000 meters to date; 43,000 meters this year at its
Esaase project, where Keegan is currently delineating and expanding a
resource.
Keegan will shortly add a second drill to complete infill drilling
while the existing drill continues to complete stepouts and expand the
deposit.
Several results are pending from aggressive stepout drilling to the north of
the existing resource and will be released when available.
Keegan has contracted Lycopodium Engineering Pty.
Ltd., a mining engineering
firm based in Perth Australia, to coordinate scoping studies at the Esaase
Project.
The project personnel that Lycopodium has assigned to the project
have extensive experience in Ghana, having worked in project study and
design at the Akyem, Ahafo, and Tarkwa projects.
Lycopodium and Keegan
personnel are currently designing extensive metallurgical tests to
investigate potential heap leach and CIL scenarios at Esaase.
Jeni Concession
Keegan has completed an initial soil sampling program with results to be
released shortly.
Asumura
Keegan is continuously auger drilling mineralized structures previously
identified and is planning a second drilling phase to be designed once all
the initial data is processed.
Mt.
Olives
Keegan is completing a geochemistry exploratory work program targeted to
identify drill targets, which includes both stream sediment and soil samples
and expects to release an update shortly.
Corporate update:
Keegans plans for the coming year at Esaase are to release an updated
resource estimate that includes both southern and northern extensions of the
existing resource followed by a scoping study that will evaluate potential
mining scenarios at Esaase.
At the same time Keegan will design a drilling
program on the Jeni Concession as well as complete new acquisitions.
At the Asumura Project, Keegan will continue its surface exploration (stream
sediment and soil sampling) programs on the newly acquired Mt.
Olives
concession and its augur drilling program on select targets on the original
Asumura concessions in preparation for additional drilling programs.
President and CEO Dan McCoy states: "Keegan is pleased to be advancing its
projects at an aggressive pace and is fortunate to have a strong cash
position which will carry the company into 2009 with no further financings
required in 2008."
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:
http://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.