Kanyankaw

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Location - The Kanyankaw Project is located in south central Ghana approximately 50 kilometres north of the seaport of Takoradi and comprises an area of 91 square kilometres.

The licence area is underlain chiefly by Upper Birimian greenstones and intruded by small stocks and dykes of hornblende granodiorite. Slicing through the rock pile is a series of NNE-trending fractures with associated minor splays. Where these major lineaments cross slightly more elevated terrain their trace is coincident with a trail of sericitically altered, granodiorite dykes which show patchy gold-bearing, quartz stockworks.

Work to date - Past drilling on the property tested several geochemical anomalies and returned mineralized intersections from a number of drill holes, the most significant being from a hole in the southwest part of the license area which averaged 1.5 g/t gold over 40 meters.

Current and Future Plans - Recent work completed on the property has generated several new targets which warrant further testing. Although exploration in the last few years has been limited due to the company’s focus on Ntotoroso as well as the fact that due to the increase in the gold price there has been a significant increase in the number of illegal artisanal miners. (At one stage there were in excess of 6,000 artisinal miners working the area).

In Mid 2004 a drilling campaign was conducted on the licence and returned grades and intersections which warrant further testing. 28 holes were drilled, for a combined total of 1,938 metres. The best intersection returned 0.96 grammes per tonne over 21 metres. A follow up drill programme is being undertaken in the early part of the summer of 2005.

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