Ghana Gold Corporation Announces Acquisition of West African
Projects Consult Ltd. (WAP)
PORT ST. LUCIE, Fla., Jan. 15, 2013 /PRNewswire/
-- Ghana Gold Corporation; (PINKSHEETS: GGCO) is pleased to
announce it has acquired 100% of West African Projects Consult Ltd.
(WAP).
Ghana Gold Corp. will benefit from the work WAP completed
over the last four years locking-up alluvial locations and hard
rock mining concessions totaling well over 100 sq km. These
include Jukwa Concession which is already in production as well as
Grumesa on the Ofin River Concession, Offinso Goldfields at Ahenkro
and the Brofoyedro Concessions at the River Pra.
These concessions are located in close proximity to proven gold
reserves of some of the major companies in the industry, including;
Anglo Gold Ashanti, Newmont and
Chirano. Alluvial mining production on the Jukwa concession
has generated approximately $1
Million in revenues. Management expects to be able to double
this production on an annualized basis within the next six to
nine months, as operations expand and with the purchase of
additional equipment.
The Company strategy is to continue to expand alluvial mining
production growing annual recurring revenues which also support
additional geotechnical engineering to improve mining planning,
efficiency and profitability as well as to identify appropriate
hard rock drilling sites.
Mr. Robert Kirkcaldy, President
and COO of Ghana Gold Corporation, commented, "The company
will prove up reserves both in alluvial as well as implementing its
hard rock drilling program. We are very excited about the
near term and long term prospects that lie ahead for the
Company." He further stated, "These concessions are
strategically located in close proximity to some of the most
prolific gold mines in the world. We will spend years just
determining the extent of these reserves. This is truly an
exciting time for Ghana Gold Corporation." "Management is
committed to continue to update shareholders as to the progress of
operations on the Jukwa site as well as progress in the areas of
additional geology reporting, new equipment procurement, and
further development of concessions as well as additional
exploration and resource development," concluded Mr. Kirkcaldy.
The company's website is www.Ghanagoldcorporation.com
Contact: Robert Kirkcaldy,
President and COO
Ghana Gold Corporation
For further Information and inquiries please call:
866-340-3095.
FORWARD LOOKING STATEMENTS
Certain statements in this release, other than statements of
historical fact, may include forward-looking information that
involves various risks and uncertainties. There can be no assurance
that such forward-looking statements will prove to be accurate.
Actual result and future events could differ materially from those
anticipated in such statements. These and all subsequent written
and oral forward-looking statements are based on the estimates and
opinions of management on the dates they are made and expressly
qualified in their entirety by this notice. The Company assumes no
obligation to update forward-looking statements should
circumstances or management's estimates or opinions change, other
than as required pursuant to applicable securities laws.
SOURCE Ghana Gold Corporation