VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 18, 2008) - Keegan Resources Inc. ("Keegan") (TSX VENTURE:KGN)(AMEX:KGN) 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.
To view the map accompanying this release please click on the following link: http://media3.marketwire.com/docs/kgn918.jpg.
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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 marked
with (i). Distances are in drilled meters and grades reported in g/t Au.
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Hole ID From To Width Grade Hole ID From To Width Grade
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KERC474 64 75 11 1.57 KEDD480(i) 163 189 26 1.49
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KERC474 110 144 34 0.54 KEDD480 235 245 10 2
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KERC474 186 198 12 2.35 KERC481(i) 35 58 23 4.2
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KERC475 138 152 14 2.21 including 41 44 3 15.92
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including 139 140 1 19.7 including 48 49 1 10.1
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KERC476 240 245 5 4.2 including 57 58 1 13.4
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including 242 243 1 16.2 KERC481 109 119 10 1.071
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KERC479 33 44 11 1.51 KERC482 82 92 10 2.97
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KERC479 198 224 26 1.27 KEDD483(i) 141 167 26 2.51
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KEDD480 111 116 5 3.54 including 162 163 1 53.2
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including 113 114 1 16.3 KERC484 240 249 9 1.75
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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
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 Company's filings that are available at www.sedar.com.
Keegan Resources Inc. - Investor Relations
Dan McCoy, Ph.D.
President & CEO
(604) 683-8193 or Toll Free: 1-800-863-8655
(604) 683-8194 (FAX)
Email:
[email protected]
Website: www.keeganresources.com