709 - 700 West Pender Street
Vancouver, B.C., V6C 1G8
Tel: (604) 689-0988 * Fax: (604) 687-3797
Trding Symbol: AKI
Complete assays of rock chip and soil samples taken during Akiko Gold's mid-1995 geologic reconnaissance program in the northwest portion of the Company's 54 square mile concession in Ghana have yielded significant gold values ranging up to 0.69 ounces per ton, and have identified highly prospective drill targets. The Company's "Antubia Mine/Afere Concession" is accessibly located in southwest Ghana on the west flank of the highly mineralized Bibiani Greenstone Belt. This places Akiko's concession approximately 40 miles southwest of the old Bibiani Mine where positive feasibility has recently been reported on the same Greenstone Belt for nearly 2 million ounces of gold, and parallel to the Ashanti Greenstone Belt where Ashanti Goldfields produces 850,000 ounces of gold annually. The concession contains the old underground Antubia Mine which produced gold grading nearly one half ounce per ton just before WWII, numerous gold bearing quartz veins currently being manually mined near surface by local villagers, and geologic potential for zones of quartz veins hosting significant open pit as well as underground deposits similar to those already being mined from Ghana's prolific gold producing Greenstone Belts.
Working with A.C.A. Howe International geologic consultants, the Company's program utilized side scanning radar and satellite imagery to map favorable geologic structures, established surface grids totaling 5.6 line miles, and collected 200 rock chip and 180 soil samples for analysis. Assay results from the AFERE grid, which encompasses two areas of shallow native workings spaced approximately 1,440 feet (350 m.) apart, are encouraging. This target area had been identified by the Company's preliminary work last year when a five foot (1.53 metre) wide chip sample of quartz returned a gold assay of 0.99 ounces per ton. Results from the recent program indicate (a) that there are broad soil geochemical anomolies containing gold values up to 0.48 ppm connecting and surrounding the two native workings, and (b) that quartz veins elsewhere in these old native workings contain up to 0.38 ounces of gold per ton. Assays from the east JUABESO grid which covers a series of widely spaced native trenches, shallow shafts and prospects located along the possible northeast continuation of the Antubia Mine shear zone are also encouraging. Soil samples contain gold values up to 0.76 ppm, and rock chip samples of silicified, quartz veined metasediments contain gold values up to 0.079 opt with potential for higher grades at modest depths. Assays from the MAIN grid which covers the Antubia Minc arca and the (apparently displaced) southwestern extension of the Antubia Mine shear zone included gold values of 0.69 and 0.54 ounces per ton, respectively from quartz veins similar to those previously mined underground on the property.
Further west of the Antubia Mine, the separate ANTUBIA gold occurrence currently being mined near surface by local villagers, remains to be sampled along with other areas on the Company's large concession. The above referenced soil anomolies on the AFERE and JUABESO grids are open to extension along strike and require additional sampling to better define the extent of mineralization. A.C.A. Howe, in conjunction with Akiko's V.P., Exploration, Ray Irwin, are compiling the full reconnaissance report including recommendations for further surface recon, geophysics and initial drilling. Joint venture possibilities are beginning to be considered.
On Behalf of the Board of Directors
"Stephen E. Flechner"
President & Chief Executive Officer
For further information about Akiko Gold Resources Ltd. or the contents of this news release, please contact Christine Reynolds in Vancouver at (604) 689-0988.