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The Okavango property comprises three Prospecting Licenses covering approximately 2592 km2 held by the Company's wholly-owned subsidiary, PAM Botswana (Pty.) Ltd. It is situated on a recently recognized extension of the Archaean Congo Craton, which hosts numerous economic kimberlite and alluvial diamond deposits. The property is covered by sands of the Kalahari Desert of variable thickness, averaging approximately 60 m. The Company previously announced the discovery of G10 garnets and other kimberlitic indicator minerals in place over key circular targets generated through its airborne and ground geophysics studies on the property.
The Phase 1 program encompasses approximately 2500 m of core drilling covering 12-15 holes to be drilled into select targets among the more than 100 distinct kimberlite targets identified by the Company's geologic team. The goal of the drill program is to prove the existence of a virgin sub-Kalahari diamondiferous kimberlite field. A tricone system will be used to drill through the Kalahari sand cover, followed by core drilling to a depth of approximately 200 m once kimberlite is intersected. The drill program is being supervised by Dr. Andy Moore (Pr. Sci. Nat.), who is a Qualified Person with 30 years' experience in diamond exploration in Southern Africa. The Site Manager is Mr. Michael Sanders, who has experience drilling in the Ngamiland region as well as in connection with the development of De Beers' Letlhakane and Orapa diamond mines in Botswana.
About African Queen
The Company is an exploratory resource company with diversified mineral properties in Southern Africa. It is exploring its properties in Botswana and Namibia for diamonds, and it is exploring its properties in Mozambique for gold and other metals. The Company's licenses in Botswana and Namibia comprise approximately 11,800 sq km of diamond prospects. In Mozambique it has approximately 1900 sq km of gold and other metals licenses under agreements with two other companies. Its operations in Botswana are carried out through its operating subsidiary, PAM Botswana (Pty) Ltd.; its operations in Namibia are carried out through its operating subsidiary PAM Minerals Namibia (Pty) Ltd.; and its operations in Mozambique are carried out through its subsidiary PAM Mocambique Limitada. The Company has its executive offices in Vancouver, Canada.
On Behalf of the Board of Directors of African Queen Mines Ltd. Irwin Olian Chairman & CEO
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of the information contained herein. The statements made in this press release may contain certain forward-looking statements that involve a number of risks and uncertainties. Actual events or results may differ from the Company's expectations.
Distributed by Filing Services Canada and retransmitted by Marketwire
For more information, contact: Irwin Olian President and CEO E-mail: Email Contact Phone: (604) 899-0100 Fax: (604) 899-0200 Carrie Howes Corporate Communications Email: Email Contact Phone: Dusseldorf - +49 (0) 1722 1234 47 Phone: London - +44 (0) 7780 602 788
SOURCE: African Queen Mines Ltd.
http://www2.marketwire.com/mw/emailprcntct?id=336C8820FF19D55F http://www2.marketwire.com/mw/emailprcntct?id=2A08811451E99D2D
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