Allstocks.com's Bulletin Board Post New Topic  New Poll  Post A Reply
my profile login | register | search | faq | forum home

  next oldest topic   next newest topic
» Allstocks.com's Bulletin Board » Micro Penny Stocks, Penny Stocks $0.10 & Under » WAGI -- West Africa Gold Inc (Page 1)

 - UBBFriend: Email this page to someone!   This topic comprises 2 pages: 1  2   
Author Topic: WAGI -- West Africa Gold Inc
WinsumLosesum
Member


Icon 1 posted      Profile for WinsumLosesum     Send New Private Message       Edit/Delete Post   Reply With Quote 
Anybody watching this?

West Africa Gold Inc. Corporate Update

Company to Refocus as an International Mining Exploration Group

NEW YORK, NY, Jul. 14, 2004 (MARKET WIRE via COMTEX) -- West Africa Gold Inc. (WAGI) announced today that it following its successful acquisition of additional and extremely promising Gold Mining properties in Arizona, USA and its immediate intent to purchase further Gold Mining Properties in the U.S.A. and elsewhere; its intention is to refocus the Company as an International Mining Exploration business rather than one limited to West Africa.

The Company expects to announce further Gold Mining acquisitions shortly and is therefore contemplating a more appropriate name for the Company to reflect its International interests. At such time as this name has been decided upon, the new identity of the Company and its appropriate new Symbol will be announced.

Richard Axtell, the President of West Africa Gold Inc said today that he is very encouraged by the growth of the company to date and that he was confident that further acquisitions in the Gold Mining sector would be concluded shortly.

About West Africa Gold Inc.

West Africa Gold (www.westafricagold.com) is an aggressive gold exploration company that has acquired certain rights to mine for minerals, primarily gold, in various regions of the Republic of Mali and now in North America.

Statements contained in this press release, which are not historical facts, are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based largely on the Company's expectations and are subject to a number of risks and uncertainties beyond the Company's control, including but not limited to economic, competitive and other factors affecting the Company's operations, management team effectiveness, expansion strategies, available financing, market prices and recovery costs, government regulations involving the Company, facts and events not known at the time of this release, and other factors discussed in the Company's filings with the Securities and Exchange Commission.

These statements are not guarantees of future performance and readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. The Company undertakes no obligation to update publicly any forward-looking statements.

Contact:Equity Alliance International, LLC1 858 459 3552

SOURCE: West Africa Gold Inc.

Copyright 2004 Market Wire, All rights reserved.


Posts: 1872 | From: right here | Registered: Apr 2004  |  IP: Logged | Report this post to a Moderator
WinsumLosesum
Member


Icon 1 posted      Profile for WinsumLosesum     Send New Private Message       Edit/Delete Post   Reply With Quote 
I'm serious!

Is anybody watching this??? It's going nuts!


Posts: 1872 | From: right here | Registered: Apr 2004  |  IP: Logged | Report this post to a Moderator
Daddy's Last Penny
Member


Rate Member
Icon 1 posted      Profile for Daddy's Last Penny     Send New Private Message       Edit/Delete Post   Reply With Quote 
love at first site. i'll look into it. thanks. already running.
Posts: 88 | From: utica, ny ,usa | Registered: Jun 2004  |  IP: Logged | Report this post to a Moderator
WinsumLosesum
Member


Icon 1 posted      Profile for WinsumLosesum     Send New Private Message       Edit/Delete Post   Reply With Quote 
quote:
Originally posted by Daddy's Last Penny:
love at first site. i'll look into it. thanks. already running.

Great website. Very impressive.
http://www.westafricagold.com/


Posts: 1872 | From: right here | Registered: Apr 2004  |  IP: Logged | Report this post to a Moderator
WinsumLosesum
Member


Icon 1 posted      Profile for WinsumLosesum     Send New Private Message       Edit/Delete Post   Reply With Quote 
Bid .115 Ask .135 Last close .107
Posts: 1872 | From: right here | Registered: Apr 2004  |  IP: Logged | Report this post to a Moderator
Dardadog
Member


Member Rated:
4
Icon 1 posted      Profile for Dardadog     Send New Private Message       Edit/Delete Post   Reply With Quote 

Company Purchases Its Second North American Gold Mining Property
Making the Company Now Predominantly Focused in North America

NEW YORK, NY -- (MARKET WIRE) -- 07/29/04 -- West Africa Gold Inc.
(OTC BB: WAGI) announced today that it has now acquired Western Gold
Limited. Western Gold Limited has the rights to extremely promising
Gold Mining properties, these properties being situated in Arizona,
USA. The entire cost of the acquisition of these Gold Mining
Properties is being settled through the issue of Restricted Shares of
West Africa Gold Inc Common Stock.

Western Gold Limited holds rights to the Bouse property in Arizona,
USA comprising of 12 placer claims spread over 1,300 acres in La Paz
County. Located just North of the Plomosa Fault and it includes the
Little Butte, Flat Fault and Arrastre projects.

Richard Axtell, the President of West Africa Gold, said today that he
was delighted with the Company's rapid expansion into North America
and with the quality of the Gold assets being acquired. This
acquisition will considerably increase the company's presence in
North America with North America now being the most important part of
the Company's Mining Exploration activities.

The Bouse Property, a Mid-Tertiary system of epithermal
mineralization was introduced into a stacked sequence of
lithotectonic units that are located on the northern side of the
Plomosa Detachment Fault. Complex epithermal gold, barite and
fluorite mineralization is superimposed on earlier copper-specularite
mineralization. Gold occurs in laterally extensive breccias and in
steeply dipping amethystine-quartz veins. Past district production
(over 2/3 of which was from the Little Butte Mine) averaged over 0.4
oz/T gold. Strong likelihood of a major detachment fault associated
gold / copper deposit, similar to the proven and mined Copperstone
and Mesquite deposits. Past drilling by Tenneco, US Borax and
Homestake found gold bearing intervals in both the breccias and high
angle structures. Previous summary sampling have been inferred at
5,000,000 tons with Gold grades of up to 0.3 opt Au at the Little
Butte alone with additional resources of silver and copper.

The Bouse Project involves an important type of Arizona gold deposit,
called a "detachment fault" deposit. Detachment fault deposits were
first recognized as a separate form of gold deposit in the 1980's. The
best example of an Arizona detachment gold deposit is Copperstone,
which is about 20 miles from Bouse. It was the biggest gold
discovery in Arizona in at least 50 years. Cyprus Gold profitably
mined the 500,000 oz open pit resource during the 1980's. Unlike
Copperstone, Bouse is an historic gold producer. 5,000 ounces were
previously produced from high grade ore. It was also worked as an
underground copper mine. Most of this production was from the Little
Butte Mine, which is the centerpiece of the land position.

Starting in the 1980's there has been a lot of exploration work at
Bouse. Per Arizona Department of Mines and Mineral Resources records,
prior to 1983 a 16 hole drill program blocked out 5,000,000 tons of
material ranging from .05 to .30 ounces gold per ton. These
drill-holes were in the immediate vicinity of the Little Butte
underground mine and the Little Butte open pit. The core deposit may
be visualized as an inverted "V" with the Little Butte underground
near the apex, the Little Butte surface, Flat Fault project and Blue
Slate along the left leg, and the Airfield project at the bottom of
the right leg. If, as is believed, the entire area of the inverted
"V" turns out to be an economic resource this would be a far larger
gold deposit than the 1,000,000 +/- oz Copperstone, and may be
significantly closer to the size of the Mesquite mine, which is
another detachment fault deposit in California.

Previous owners estimated the resource more conservatively, at
2,000,000 tons of .07 ounce per ton rock. They drilled exactly one
290 foot hole near the Little Butte underground workings and
encountered 7 gold bearing intervals. Tenneco later took over the
project. They drilled 17 holes and found gold bearing intervals in
10 . Not only did they find gold at the Little Butte they also found
gold at the Arrastre, the Blue Slate and the Flat Fault project all
of which are included in our project.

Starting in 1987, Homestake Mining leased the central part of the
district (called the Brindle claims - these are the core of our
present land position) and acquired an option to purchase a smaller
patented group to the west called the Paradise Mine, which is not
included in our project. Homestake drilled over 50 holes over a 4
year period. They found significant gold mineralization everywhere
that Tenneco did at the Little Butte, Blue Slate and the Flat Fault
projects. They also put down seven drill holes in the vicinity of the
detachment fault.

About West Africa Gold Inc:

West Africa Gold (www.westafricagold.com) is an aggressive gold
exploration company that has acquired certain rights to mine for
minerals, primarily gold, in North America and with lesser interests
in the Republic of Mali.

Statements contained in this press release, which are not historical
facts, are forward-looking statements as that term is defined in the
Private Securities Litigation Reform Act of 1995. These
forward-looking statements are based largely on the Company's
expectations and are subject to a number of risks and uncertainties
beyond the Company's control, including but not limited to economic,
competitive and other factors affecting the Company's operations,
management team effectiveness, expansion strategies, available
financing, market prices and recovery costs, government regulations
involving the Company, facts and events not known at the time of this
release, and other factors discussed in the Company's filings with
the Securities and Exchange Commission.

These statements are not guarantees of future performance and readers
are cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date of this release. The
Company undertakes no obligation to update publicly any
forward-looking statements.

CONTACT:
Equity Alliance International, LLC
+ 1 858 459 3552

------------------
Due Da Due......But Be Quick About It!!!!!


Wid ma mind on ma money an' ma money on ma mind!!!


DaDog


Posts: 1656 | Registered: Sep 2004  |  IP: Logged | Report this post to a Moderator
stocktrader22
Member


Icon 1 posted      Profile for stocktrader22         Edit/Delete Post   Reply With Quote 
Looks good at around .075...I dont know but is this a quick play? Good time to get in near their 52 week low.
Posts: 6266 | Registered: Jun 2004  |  IP: Logged | Report this post to a Moderator
stocktrader22
Member


Icon 1 posted      Profile for stocktrader22         Edit/Delete Post   Reply With Quote 
Why so many 10:1 stock splits recently though?
Posts: 6266 | Registered: Jun 2004  |  IP: Logged | Report this post to a Moderator
stocktrader22
Member


Icon 1 posted      Profile for stocktrader22         Edit/Delete Post   Reply With Quote 
anyone?
Posts: 6266 | Registered: Jun 2004  |  IP: Logged | Report this post to a Moderator
Clarkie
Member


Rate Member
Icon 1 posted      Profile for Clarkie     Send New Private Message       Edit/Delete Post   Reply With Quote 
West Africa Gold Inc. Announces Further Placement of Restricted Shares for Cash
Thursday August 5, 1:30 pm ET
Company Places Restricted Shares for US$1,000,000 in Cash


NEW YORK, NY--(MARKET WIRE)--Aug 5, 2004 -- West Africa Gold Inc. (OTC BB:WAGI.OB - News) announced today that it has raised $1,000,000 in further funding, through the placement of restricted shares of the company's Common Stock to a private investor.
ADVERTISEMENT


The Company has now raised a total amount of US$1,870,000 in cash through the placement of restricted shares of its Common Stock and with private investors.

Richard Axtell, the President of West Africa Gold Inc., said he was delighted with the commitment shown to the company by substantial private investors and that he was confident that additional placement of restricted shares for cash by the Company would take place shortly.

This announcement is neither an offer to sell nor a solicitation of an offer to buy any of these securities.

Statements contained in this press release, which are not historical facts, are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based largely on the Company's expectations and are subject to a number of risks and uncertainties beyond the Company's control, including but not limited to economic, competitive and other factors affecting the Company's operations, management team effectiveness, expansion strategies, available financing, market prices and recovery costs, government regulations involving the Company, facts and events not known at the time of this release, and other factors discussed in the Company's filings with the Securities and Exchange Commission.

These statements are not guarantees of future performance and readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. The Company undertakes no obligation to update publicly any forward-looking statements.


Posts: 52 | From: Macomb | Registered: Aug 2004  |  IP: Logged | Report this post to a Moderator
Dardadog
Member


Member Rated:
4
Icon 1 posted      Profile for Dardadog     Send New Private Message       Edit/Delete Post   Reply With Quote 
It dipped this morning. This is good entry level for a bounce.

------------------
Due Da Due......But Be Quick About It!!!!!


Wid ma mind on ma money an' ma money on ma mind!!!


DaDog


Posts: 1656 | Registered: Sep 2004  |  IP: Logged | Report this post to a Moderator
Clarkie
Member


Rate Member
Icon 1 posted      Profile for Clarkie     Send New Private Message       Edit/Delete Post   Reply With Quote 
It's running!! Most movement its had in at least a week +.0012
Posts: 52 | From: Macomb | Registered: Aug 2004  |  IP: Logged | Report this post to a Moderator
Clarkie
Member


Rate Member
Icon 1 posted      Profile for Clarkie     Send New Private Message       Edit/Delete Post   Reply With Quote 
Keep your eye on this one, its up 35% today, I've been watching this for about 4 months. If it pushes through .05 today, we may be in store for something good. If it doesn't then keep it on your radar. I won't jump in right away, but maybe down the line.

Finally started to get into some green, the last couple of days after getting beat down behind the wood shed for over a week.


Posts: 52 | From: Macomb | Registered: Aug 2004  |  IP: Logged | Report this post to a Moderator
WinsumLosesum
Member


Icon 1 posted      Profile for WinsumLosesum     Send New Private Message       Edit/Delete Post   Reply With Quote 
 West Africa Gold Inc     (OTC BB: WAGI) Last Update: 9:03:36 AM ET Aug 16, 2004  
 
West Africa Gold Inc. Appoints Chief Executive Officer

Company Appoints Mr. Michael G. Saner as Its CEO

NEW YORK, NY, Aug. 16, 2004 (MARKET WIRE via COMTEX) -- West Africa Gold Inc. (WAGI) announced today that it has appointed Michael G. Saner as the Company's Chief Executive Officer with immediate effect. Richard M. Axtell will now assume the position as Non Executive Chairman of the Company.

Richard M. Axtell, the Chairman of West Africa Gold Inc., said today that the appointment of Michael as the Company's CEO will bring a wealth of expertise and experience to the Company that will be required to sustain and expand upon the Company's aggressive growth plans and for the development of the Company's various Gold Mining Projects both in Mali and in North America.

Michael has over 36 years of post-graduate experience in all aspects of the business of mineral and resource exploration, assessment, feasibility, development, operation, investment and finance of minerals beneficiation and other projects covering a wide range of commodities and deposit types with on-the-ground experience in 23 countries and while holding positions ranging from Geological Field Assistant to Managing Director of both unlisted and stock exchange quoted companies

Michael's consulting to the Company in the past has been in connection with the exploration, development, assessment, marketing, and management of mineral resource projects. Experienced exploration and mine geologists, surface and underground mining engineers, materials process development engineers, and marketing and economics professionals are available on an associate basis to assist in undertaking detailed project assessments and operational planning to meet the industry's highest standards in a wide variety of mineral commodities. This includes regional and detailed field exploration investigations, project evaluations, pre-feasibility and feasibility study assessments (to "bankable" document and "Competent Person's" standards, as required), financial structuring, project development, implementation, and operational management.

Michael's Capabilities lie in minerals project planning, design and management covering an integrated field of geological services, open pit, quarry and mine design, metallurgical testwork, plant and materials handling design, feasibility studies, economic evaluation, investment analysis, financial structuring, marketing studies, planning and permitting, environmental assessment as well as strategic analysis, assessment and recommendations and project implementation.

The location of completed assignments ranges from the desert environments of Namibia and Iran, to the tropical areas of West and Central Africa, the mountainous terrains of Argentina and Iran, the corporate environment of South African mining houses, the financial world of Johannesburg and London, and the continental climate of Central Asia. Countries of assignments to date are South Africa, Namibia, Botswana, Zimbabwe, Malawi, Tanzania, Kenya, Ghana, Cote d'Ivoire, Iran, England, Canada, United States of America, Greece, Australia, Brazil, Argentina, Uzbeikistan, Zaire, Morocco and Mali.

Michael has been a Registered Professional Natural Scientist since February 1984, a Chartered Engineer (United Kingdom) since June 1976 and has a Bachelor of Science Degree in Geology since December 1967. He has been a Fellow of the South African Institute of Mining and Metallurgy since February 1977 and a Member of the Institution of Materials, Minerals & Mining in the United Kingdom since February 1971

Michael's clients and employers include Chrometco Ltd, Centurion Holdings Inc, Billion Group , Pan African Minerals Beneficiation Consultants (Mali), Dahava Do Brasil LTDA, the Tanzania Government Cabinet Task Team, Nedbank Ltd, Zeltis Holdings Ltd, Dwyka Diamonds Ltd, Trillion Resources Ltd, Noramco Capital, Rare Earth Extraction Co Ltd, Marchmont Resources Ltd, Robertson Research Minerals Ltd, African Mining Corporation plc, Gengold Ltd, Randex Ltd, Genbel Investments Ltd, Gencor Ltd, Gold Fields of South Africa Ltd, Phelps Dodge Mining (Pty) Limited (South Africa), Johannesburg Consolidated Investment Company Ltd (JCI), Selection Trust Ltd, Iranian Selection Trust Ltd, RTZ Exploration (SA) (Pty) Ltd, RST Exploration Ltd,

About West Africa Gold Inc.

West Africa Gold (www.westafricagold.com) is an aggressive gold exploration company that has acquired certain rights to mine for minerals, primarily gold, in various regions of the Republic of Mali and in North America.


Posts: 1872 | From: right here | Registered: Apr 2004  |  IP: Logged | Report this post to a Moderator
WinsumLosesum
Member


Icon 1 posted      Profile for WinsumLosesum     Send New Private Message       Edit/Delete Post   Reply With Quote 
West Africa Gold Inc     (OTC BB: WAGI) Last Update: 10:14:56 AM ET Aug 17, 2004  
 
West Africa Gold Inc Announces Re-assessment of Its Mockingbird Gold-Silver-Copper Property, Arizona, USA

NEW YORK, NY, Aug. 17, 2004 (MARKET WIRE via COMTEX) -- West Africa GOLD Inc. (WAGI) takes pleasure in announcing that the Chairman of its Advisory Committee, Dr Wayne P Colliston, has completed a re-assessment of the company's recently acquired Mockingbird gold-silver-copper property situated in Mohave County, Arizona, USA.

Dr Colliston reports that the Mockingbird mineralisation is tectonically and structurally controlled, an important feature which may not have received sufficient attention from previous owners of the property. Mockingbird is an historic gold producer, with some 15,000 ounces from high-grade ore at an average grade of 0.8 oz/ton being produced. Most of this production was from the Mockingbird Mine itself, the centrepiece of the Company's present land position. Other mines which produced gold at this location included the Great West, the Hall (Dandy) and the Pocahontas Mines, all of which are included in the Company's property.

West Africa Gold Inc's Mockingbird Project contains a new and important type of gold deposit, a "detachment fault" deposit (first recognized as a separate form of gold deposit in the 1980s), the best example of which is Copperstone. This was the biggest gold discovery in Arizona in the past 50 years. Cyprus Gold profitably mined the 500,000 oz open pit Copperstone resource during the 1980s. Based on underground drilling by the American Bonanza company, it is likely that the underground high-grade resource at Mockingbird is even larger.

The Company's mining title consists of 2,500 acres of mineral rights comprising a number of federal claims with 3 lode deposits and 16 placer deposits, as well as the Mockingbird Claims. Significantly, these include the 4 existing mines -- Mockingbird, Great West, Hall (Dandy) and Pocahontas, all of which contributed significantly to the past gold production in this important gold producing mining district.

Mineralization is found both in quartz veins and in breccia zones hosted by steep faults, with the mines located along north-west to east-west striking, north-dipping to flat quartz veins containing specular hematite, oxidized copper and free gold. The nature of these structures and associated mineralization suggest even further potential for a major detachment fault-associated gold/copper deposit, similar to the proven and mined Copperstone and Mesquite deposits.

The Mockingbird Project area therefore has the potential for the development of a large gold reserve. Anaconda estimated a deposit at Mockingbird of at least 10 million tons grading 0.05 to 0.1 oz/ton gold, with additional resources of silver and copper, putting the potential deposit size in the range of 500,000 to 1,000,000 ounces of gold, approximately the same size as Copperstone. The Anaconda estimate is corroborated by US Geological Survey Open File Report 92-002 and the Arizona Department of Mines and Mineral Resources.

At the current gold price of approximately US $400/oz, this provides a value estimate for the deposit in the range of US $200 to $400 million. The estimated gold resource does not include any potential from the 16 gold placers identified on the property.

The newly-appointed CEO of West Africa Gold Inc, Michael G Saner, said today that he "was excited at the upside potential at Mockingbird and that it is seldom that a young company such as West Africa Gold Inc has the opportunity to develop such a promising property. Our challenge now is to explore and develop the property from its present stage to that of a proven orebody (or orebodies) and move to put it into production as soon as possible."

The full Report by Dr Colliston on the Mockingbird Property is available for download on the Company's Corporate Web Site, www.westafricagold.com.

About West Africa Gold Inc :-

West Africa Gold (www.westafricagold.com) is an aggressive gold exploration company that has acquired certain rights to mine for minerals, primarily gold, in various regions of the Republic of Mali and in North America.


Posts: 1872 | From: right here | Registered: Apr 2004  |  IP: Logged | Report this post to a Moderator
glassman
Member


Icon 1 posted      Profile for glassman     Send New Private Message       Edit/Delete Post   Reply With Quote 
reading this carefully, it sounds like they may have the biggest gold strike in the last 50 years in AZ.....

[This message has been edited by glassman (edited August 17, 2004).]


Posts: 36378 | From: USA | Registered: Sep 2003  |  IP: Logged | Report this post to a Moderator
WinsumLosesum
Member


Icon 1 posted      Profile for WinsumLosesum     Send New Private Message       Edit/Delete Post   Reply With Quote 
That would be nice, because I just averaged down.

Hey, I own stock in diamonds, gold and oil. Dang, someday I'm gonna be a typhoon!


Posts: 1872 | From: right here | Registered: Apr 2004  |  IP: Logged | Report this post to a Moderator
Clarkie
Member


Rate Member
Icon 6 posted      Profile for Clarkie     Send New Private Message       Edit/Delete Post   Reply With Quote 
Hey Winsum, I got some land down in FLA, wanna buy it?? Just kidding. In the same boat with you, I'm in with WAGI and DMXP.
Posts: 52 | From: Macomb | Registered: Aug 2004  |  IP: Logged | Report this post to a Moderator
Clarkie
Member


Rate Member
Icon 1 posted      Profile for Clarkie     Send New Private Message       Edit/Delete Post   Reply With Quote 
Up +.015 today. Chart just looking to bust out. RSI is 44.81, MACD ready to cross. News just out about possible gold finding, and rumors floating about a possible merger. Do the DD and you'll see. IMHO.
Posts: 52 | From: Macomb | Registered: Aug 2004  |  IP: Logged | Report this post to a Moderator
WinsumLosesum
Member


Icon 1 posted      Profile for WinsumLosesum     Send New Private Message       Edit/Delete Post   Reply With Quote 
Wow! Look what happened when I wasn't looking today! Wonder what's up?
Posts: 1872 | From: right here | Registered: Apr 2004  |  IP: Logged | Report this post to a Moderator
glassman
Member


Icon 1 posted      Profile for glassman     Send New Private Message       Edit/Delete Post   Reply With Quote 
[QUOTE]Originally posted by glassman:
[B]reading this carefully, it sounds like they may have the biggest gold strike in the last 50 years in AZ.....

and you thought i was joking.....LOL


Posts: 36378 | From: USA | Registered: Sep 2003  |  IP: Logged | Report this post to a Moderator
Spinoff
Member


Member Rated:
5
Icon 6 posted      Profile for Spinoff     Send New Private Message       Edit/Delete Post   Reply With Quote 
Jeeze guys this one rocks and as always I can't read all the good posts....sux ta be me, but I'll keep a real close eye on this bad boy...thx.
Posts: 829 | From: people's republic of cambridge | Registered: Jun 2004  |  IP: Logged | Report this post to a Moderator
WinsumLosesum
Member


Icon 1 posted      Profile for WinsumLosesum     Send New Private Message       Edit/Delete Post   Reply With Quote 
WAGI just filed their 10QSB
http://www.westafricagold.com/pdfs/Form_10QSB200804.pdf

Posts: 1872 | From: right here | Registered: Apr 2004  |  IP: Logged | Report this post to a Moderator
glassman
Member


Icon 1 posted      Profile for glassman     Send New Private Message       Edit/Delete Post   Reply With Quote 
more news....


2004-08-23 10:34:41


West Africa Gold Inc. Announces Re-Assessment of Its Bouse Gold


***

Property in Arizona, USA NEW YORK, NY -- (MARKET WIRE) -- 08/23/04 -- West Africa Gold Inc. (OTC BB: WAGI)


Posts: 36378 | From: USA | Registered: Sep 2003  |  IP: Logged | Report this post to a Moderator
WinsumLosesum
Member


Icon 1 posted      Profile for WinsumLosesum     Send New Private Message       Edit/Delete Post   Reply With Quote 
Thanks, Glass. Here it is for the record.

West Africa Gold Inc     (OTC BB: WAGI) Last Update: 10:35:12 AM ET Aug 23, 2004  
 
West Africa Gold Inc. Announces Re-Assessment of Its Bouse Gold Property in Arizona, USA

NEW YORK, NY, Aug. 23, 2004 (MARKET WIRE via COMTEX) -- West Africa Gold Inc. (WAGI) takes pleasure in announcing that the Chairman of its Advisory Committee, Dr Wayne P Colliston, is continuing with the re-assessment of West Africa Gold Inc.'s Mining assets, and has now completed his report on the 1,300 acre Bouse gold (silver -- copper) property situated in the La Paz area of western Arizona, USA, near the California border.

Dr Colliston reports that the mineralising event at Bouse was a mid-Tertiary epithermal event, causing complex mineralisation of gold, fluorite, barite, and associated metals into previous copper-specularite mineralisation. The prime cause was regional crustal extension along the Plomosa Fault, just north of the Plomosa mountains, which has now been identified as a detachment fault. The "detachment fault" style of deposit is best seen at Copperstone, the biggest gold discovery in Arizona in the past 50 years, where 500,000 oz of gold were profitably by Cyprus Gold in the open pit there. The Mesquite mine is another of this type.

Mineralisation at Bouse is located primarily below the fault trace, in the lower plate, in pre-Cambrian rocks older than 1 billion years. Mineralisation is found both in steeply dipping quartz veins and in laterally extensive breccia zones. The nature of these structures and associated mineralisation over almost all of the 1,300 acres suggest further potential for major detachment fault gold deposits, and other deposits associated with this style of mineralisation.

The Bouse area is an historic gold producer, with the Little Butte open pit and underground mines as known producers. Importantly, the historical grade recovered here averaged over 0.4 oz/ton. Around 2/3 of this production was from the Little Butte Mine, where the Arizona Department of Mines and Mineral Resources has recorded that the results of a 16-hold drilling programme showed about 5 million tons of inferred ore grading between 0.05 and 0.30 oz/ton.

Others areas of interest within the Company's 1,300 acres are the Brindle Claims, the high grade Arrastre Mine, the Blue Slate Mine and the Flat Fault Mine.

At the current gold price of approximately US $400/oz, this provides a value estimate for the deposit in the range of up to $600 million. This estimated gold resource is for the little Butte area only, and does not include any potential from the remainder of the property.

The CEO of WAGI, Michael G Saner, said today that, "As with our Mockingbird project, the Bouse gold project is also identified as a detachment fault deposit. This is another prime property for the discovery of a substantial gold reserve in Arizona. Our challenge now is to explore and develop the property from its present stage to that of a proven orebody (or orebodies) and move to put it into production as soon as possible."

About West Africa Gold Inc.:-

West Africa Gold (www.westafricagold.com) is an aggressive gold exploration company that has acquired certain rights to mine for minerals, primarily gold, in various regions of the Republic of Mali and in North America.


Posts: 1872 | From: right here | Registered: Apr 2004  |  IP: Logged | Report this post to a Moderator
Clarkie
Member


Rate Member
Icon 1 posted      Profile for Clarkie     Send New Private Message       Edit/Delete Post   Reply With Quote 
Better watch it again today, its doing what it did last week! from .04 to .10 just like that.
Posts: 52 | From: Macomb | Registered: Aug 2004  |  IP: Logged | Report this post to a Moderator
Spinoff
Member


Member Rated:
5
Icon 6 posted      Profile for Spinoff     Send New Private Message       Edit/Delete Post   Reply With Quote 
good call I'll be gettin' soon I think thanks.
Posts: 829 | From: people's republic of cambridge | Registered: Jun 2004  |  IP: Logged | Report this post to a Moderator
Clarkie
Member


Rate Member
Icon 1 posted      Profile for Clarkie     Send New Private Message       Edit/Delete Post   Reply With Quote 
West Africa Gold, Inc. Raises Its Reserve Estimates for Its North American Mining Projects to an Amount in Excess of $600 Million
Tuesday August 31, 9:00 am ET
West Africa Gold, Inc. Confirms Its Re-Assessment of Its Bouse and Mockingbird Gold Properties in Arizona, USA and Raising Its Reserve Estimates to a Value in Excess of $600 Million


NEW YORK, NY--(MARKET WIRE)--Aug 31, 2004 -- West Africa Gold, Inc. (OTC BB:WAGI.OB - News) takes pleasure in announcing that the Chairman of its Advisory Committee, Dr. Wayne P Colliston, is continuing with the re-assessment of West Africa Gold, Inc.'s Mining assets, and has completed his report on the 1,300 acre Bouse gold (silver -- copper) property situated in the La Paz area of western Arizona, USA, near the California border and on the Mockingbird Project situated in Mohave County, Arizona.
ADVERTISEMENT


The Bouse Project :

Dr. Colliston reports that the mineralising event at Bouse was a mid-Tertiary epithermal event, causing complex mineralization of gold, fluorite, barite, and associated metals into previous copper-specularite mineralization. The prime cause was regional crustal extension along the Plomosa Fault, just north of the Plomosa Mountains, which has now been identified as a detachment fault. The "detachment fault" style of deposit is best seen at Copperstone, the biggest gold discovery in Arizona in the past 50 years, where 500,000 oz of gold was profitably mined by Cyprus Gold in the open pit there. The Mesquite mine is another of this type.

Mineralization at Bouse is located primarily below the fault trace, in the lower plate, in pre-Cambrian rocks older than 1 billion years. Mineralization is found both in steeply dipping quartz veins and in laterally extensive breccia zones. The nature of these structures and associated mineralization over almost all of the 1,300 acres suggest further potential for major detachment fault gold deposits, and other deposits associated with this style of mineralization.

The Bouse area is an historic gold producer, with the Little Butte open pit and underground mines as known producers. Importantly, the historical grade recovered here averaged over 0.4 oz/ton. Around 2/3 of this production was from the Little Butte Mine, where the Arizona Department of Mines and Mineral Resources has recorded that the results of a 16-hold drilling programme showed about 5 million tons of inferred ore grading between 0.05 and 0.30 oz/ton.

Others areas of interest within the Company's 1,300 acres are the Brindle Claims, the high grade Arrastre Mine, the Blue Slate Mine and the Flat Fault Mine.

At the current gold price of approximately US $400/oz, this provides a value estimate for the deposit in the range of up to $600 million. This estimated gold resource is for the little Butte area only, and does not include any potential from the remainder of the property.

The Mockingbird Project :

Dr. Colliston reports that the Mockingbird mineralization is tectonically and structurally controlled an important feature, which may not have received sufficient attention from previous owners of the property. Mockingbird is an historic gold producer, with some 15,000 ounces from high-grade ore at an average grade of 0.8 oz/ton being produced. Most of this production was from the Mockingbird Mine itself, the centrepiece of the Company's present land position. Other mines, which produced gold at this location included the Great West, the Hall (Dandy) and the Pocahontas Mines, all of which are included in the Company's property.

West Africa Gold, Inc.'s Mockingbird Project contains a new and important type of gold deposit, a "detachment fault" deposit (first recognized as a separate form of gold deposit in the 1980s), and the best example of which is Copperstone. This was the biggest gold discovery in Arizona in the past 50 years. Cyprus Gold profitably mined the 500,000 oz open pit Copperstone resource during the 1980s. Based on underground drilling by the American Bonanza company, it is likely that the underground high-grade resource at Mockingbird is even larger.

The Company's mining title consists of 2,500 acres of mineral rights comprising a number of federal claims with 3 lode deposits and 16 placer deposits, as well as the Mockingbird Claims. Significantly, these include the 4 existing mines -- Mockingbird, Great West, Hall (Dandy) and Pocahontas, all of which contributed significantly to the past gold production in this important gold producing mining district.

Mineralization is found both in quartz veins and in breccia zones hosted by steep faults, with the mines located along north-west to east-west striking, north-dipping to flat quartz veins containing specular hematite, oxidized copper and free gold. The nature of these structures and associated mineralization suggest even further potential for a major detachment fault-associated gold/copper deposit, similar to the proven and mined Copperstone and Mesquite deposits.

The Mockingbird Project area therefore has the potential for the development of a large gold reserve. Anaconda estimated a deposit at Mockingbird of at least 10 million tons grading 0.05 to 0.1 oz/ton gold, with additional resources of silver and copper, putting the potential deposit size in the range of 500,000 to 1,000,000 ounces of gold, approximately the same size as Copperstone. The Anaconda estimate is corroborated by US Geological Survey Open File Report 92-002 and the Arizona Department of Mines and Mineral Resources.

At the current gold price of approximately US $400/oz, this provides a value estimate for the deposit in the range of US $200 to $400 million. The estimated gold resource does not include any potential from the 16 gold placers identified on the property.

The Mali Mining Projects :

The Advisory Committee to West Africa Gold, Inc. is presently compiling reports and valuations on the Company's five Mining Projects situated in Mali and these reports will be published shortly.

These valuations apply only to the Company's North American Mining Projects and exclude the valuations of the Company's Mining Projects situated in Mali.

About West Africa Gold, Inc.:

West Africa Gold (www.westafricagold.com) is an aggressive gold exploration company that has acquired certain rights to mine for minerals, primarily gold, in various regions of the Republic of Mali and in North America.

Statements contained in this press release, which are not historical facts, are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based largely on the Company's expectations and are subject to a number of risks and uncertainties beyond the Company's control, including but not limited to economic, competitive and other factors affecting the Company's operations, management team effectiveness, expansion strategies, available financing, market prices and recovery costs, government regulations involving the Company, facts and events not known at the time of this release, and other factors discussed in the Company's filings with the Securities and Exchange Commission.

These statements are not guarantees of future performance and readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. The Company undertakes no obligation to update publicly any forward-looking statements.


Posts: 52 | From: Macomb | Registered: Aug 2004  |  IP: Logged | Report this post to a Moderator
asbk
New Member


Rate Member
Icon 8 posted      Profile for asbk     Send New Private Message       Edit/Delete Post   Reply With Quote 
WTF? It's still dropping like anything?
Posts: 2 | From: US | Registered: Jun 2004  |  IP: Logged | Report this post to a Moderator
mattonic
Member


Rate Member
Icon 1 posted      Profile for mattonic         Edit/Delete Post   Reply With Quote 
any were going up again...
Posts: 143 | From: Sunnyvale, CA | Registered: Aug 2004  |  IP: Logged | Report this post to a Moderator
mattonic
Member


Rate Member
Icon 1 posted      Profile for mattonic         Edit/Delete Post   Reply With Quote 
are we running?
Posts: 143 | From: Sunnyvale, CA | Registered: Aug 2004  |  IP: Logged | Report this post to a Moderator
stocktrader22
Member


Icon 1 posted      Profile for stocktrader22         Edit/Delete Post   Reply With Quote 
getting killed on good news, hmmm...im in at .038 need a comeback
Posts: 6266 | Registered: Jun 2004  |  IP: Logged | Report this post to a Moderator
kissthering
Member


Rate Member
Icon 1 posted      Profile for kissthering     Send New Private Message       Edit/Delete Post   Reply With Quote 
"as of August 19, 2004: 2,132,559,200 shares of common stock outstanding, $0.0001 par value."

Price is attractive to me, but 2 bill. ??? is that right??

Anybody have updated sharecount?

TIA


Posts: 20 | Registered: Jun 2004  |  IP: Logged | Report this post to a Moderator
glassman
Member


Icon 1 posted      Profile for glassman     Send New Private Message       Edit/Delete Post   Reply With Quote 
yep....that's correct as i read the filings...

still, if the PR's are correct, it's way undervalued, even at a nickel....
problem is, there are too many players, and it's hard to be sure about short-selling when you have this high of a float..

good luck...


Posts: 36378 | From: USA | Registered: Sep 2003  |  IP: Logged | Report this post to a Moderator
blue_in_MI
Member


Member Rated:
4
Icon 1 posted      Profile for blue_in_MI     Send New Private Message       Edit/Delete Post   Reply With Quote 
wow, what an odd chart. odd behavior as well - they completely tanked last week despite what on the surface is a good PR. obviously part of the problem is the 2b o/s, i hate huge floats like that on the otc. market cap pretty big even at .015, for a junior mining company - that over $30M. where did all the other cash from all those shares go, they appear to have not much except from the last financing? this is also a little troubling, from their aug5 pr: "additional placement of restricted shares for cash by the Company would take place shortly". restricted, but still - otc markets don't take too kindly to dilution.

still, interesting - it's on my watch-list. frankly, not sure i'd buy now, with the way the chart looks, but - a little lower and i might jump in with a little. looks like it will cost them about $1.5M to finance a dig (from their filing:

"Total costs -preliminary/first phase drilling exploration program: $1,500,000"

an interesting story, will keep my eye on and dig around their filings some more.

[This message has been edited by blue_in_MI (edited September 06, 2004).]


Posts: 1698 | Registered: Mar 2004  |  IP: Logged | Report this post to a Moderator
  This topic comprises 2 pages: 1  2   

Quick Reply
Message:

HTML is not enabled.
UBB Code™ is enabled.

Instant Graemlins
   


Post New Topic  New Poll  Post A Reply Close Topic   Feature Topic   Move Topic   Delete Topic next oldest topic   next newest topic
 - Printer-friendly view of this topic
Hop To:


Contact Us | Allstocks.com Message Board Home

© 1997 - 2021 Allstocks.com. All rights reserved.

Powered by Infopop Corporation
UBB.classic™ 6.7.2

Share