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African Gold Group Intersects 28g/t Gold Over 1.5m and 1.12g/t Gold Over 52.40m in the Northern Extension of the Main Shear Zone

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African Gold Group Intersects 28g/t Gold Over 1.5m and 1.12g/t Gold Over 52.40m in the Northern Extension of the Main Shear Zone

 

 

 

 

 

African Gold Group, Inc. (TSX-V: AGG) is excited to report additional exceptional drill results in the northern extension of the main shear zone (Figure 1) from its Kobada Gold project in southern Mali.

 

Highlights Include (Table 1):

 

  • High grade intersection on the northern extension of the Kobada Main Shear Zone outside of known mineralization
  • Drill hole KB19_P2_14 returned 0.81g/t Au over 16.1 metres (m) and 3.38g/t Au over 2.20m
  • Drill hole KB19_P2_15 returned 1.83g/t Au over 4.8m
  • Drill hole KB19_P2_16 returned 4.59g/t over 1.20m
  • Drill hole KB19_P2_17 returned 28g/t Au over 1.5m
  • Drill hole KB19_P2_18 returned 2.70g/t Au over 1m
  • Drill hole KB19_P2_19 returned 1.12g/t Au over 52.40m, including 6.47g/t Au over 2m

 

Following on from the previously reported drill holes of Phase 2, the next batch of assay results received from SGS laboratory in Bamako continue to demonstrate the large extent of the mineralization along strike and down dip along the highly prolific and auriferous Kobada shear zone.

 

  • Drill holes 14 through to 18 are part of the Section Line 9 and drill hole 19 is part of Section Line 10 (Figure 3).
  • Figures 2 and 3 show that the drill holes are stepping out of the existing main shear zone testing the width of the mineralised zone and progressing further northwards.
  • The company is targeting only oxides that extend to an average depth of 150m.
  • Some of the drill holes are drilled further below into the sulphides to determine the transition zone between oxides and sulphides mineralization.

 

“We are very happy to have completed our Phase 2 drilling campaign along our highly prolific Kobada Shear Zone,” says Dr. Andreas Rompel, Vice President Exploration. “We are pleased with the early high-grade results and are in keen anticipation of further high-grade intersections as the assay results are returned. The structural model has been confirmed over and over again, allowing us to drill the Kobada shear with high confidence, as well as other highly prospective targeted shear zones, as of yet untested.”

 

The outstanding results to date confirm management’s belief that the resource at the Kobada Gold Project is larger and of greater thicknesses than suggested in the 2016 Feasibility Study, and clearly highlights the strong upside potential given the results are materially above the current resource grade.

 

The planned Phase 3 drilling campaign will progress further northwards as we still receive high grade results from the Kobada Shear. To date, the Company has not discovered the northern end of mineralization. Furthermore, AGG intends to step away from the Kobada Shear to test the neighbouring and parallel striking Gosso Shear, which has been exposed by shallow artisanal mining.

 

Figure 1: Kobada exploration targets with Phase 1 and Phase 2 section lines is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a27d3d0f-33df-460a-b45b-fd9c81c1d671

 

 

    Mineralized Zone Includes
BHID Ore Body From To Composite Length (m) Composite Grade (g/t) From To Includes (m) Includes (g/t)
KB19_P2_15 Main Shear North 214.20 219.00 4.80 1.83 218.00 219.00 1.00 6.24
KB19_P2_14 Main Shear North 9.90 26.00 16.10 0.81 9.90 11.00 1.10 1.48
            16.90 19.10 2.20 3.38
KB19_P2_16 Main Shear North 111.50 112.70 1.20 4.59        
KB19_P2_17 Main Shear North 158.00 159.50 1.50 28.80        
KB19_P2_18 Main Shear North 35.00 36.00 1.00 2.70        
KB19_P2_19 Main Shear North 20.10 72.50 52.40 1.12 20.10 21.30 1.20 1.33
            23.30 24.60 1.30 7.11
            25.50 27.70 2.20 1.18
            33.00 33.90 0.90 7.09
            37.10 38.60 1.50 1.53
            41.00 43.00 2.00 6.47
            53.10 54.10 1.00 5.31
            61.90 63.80 1.90 2.85
            68.30 69.75 1.45 1.60

 

Table 1: Highlights

 

Figure 2: Section showing the drill holes KB19_P2_14, 5 and 17 (blue) intersecting the mineralized Kobada Shear Zone (orange and red) is available at

 

 https://www.globenewswire.com/NewsRoom/AttachmentNg/94cebd60-052a-40df-bff3-a6f6feeb8151

 

Figure 3: Drill hole locations and section lines in the central, southern and northern part of the Kobada Main Shear Zone is available at 

https://www.globenewswire.com/NewsRoom/AttachmentNg/b9c49251-fd4a-4f8e-b357-42051675c17b

 

Qualified Persons

 

The scientific and technical information contained in this press release has been reviewed, prepared and approved by Dr. Andreas Rompel, PhD, Pr. Sci. Nat. (400274/04), FSAIMM, Vice President Exploration of AGG, who is a “Qualified Person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects and by Mr. Uwe Engelmann (BSc (Zoo. & Bot.), BSc Hons (Geol.), Pr.Sci.Nat. No. 400058/08, MGSSA), a director of Minxcon (Pty) Ltd and a member of the South African Council for Natural Scientific Professions.

 

About African Gold Group

 

African Gold Group is a Canadian listed exploration and development company on the TSX Venture Exchange with its focus on developing a gold platform in West Africa. Its principal asset is the Kobada Project in southern Mali.

 

Posted March 2, 2020

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