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African Gold Group Intersects Further Exceptional High-Grade Gold

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African Gold Group Intersects Further Exceptional High-Grade Gold

 

 

 

 

 

African Gold Group, Inc. (TSX-V: AGG) is extremely pleased to announce further exceptional high-grade intersections at the Kobada Gold Project. The recent high-grade intersections continue to indicate there is considerable upside potential at the Kobada Gold project.

 

Highlights Include:

 

  • Drilling to date suggests the grade could increase materially, particularly in the Central Zone,
  • Drill hole KB19_P1_17 returned 1.59 g/t gold over 11.0 metres (m), including 19.0 g/t gold over 0.80m,
  • Drill hole KB19_P1_17 returned 6.39 g/t gold over 1m.
  • Drill hole KB19_P1_17 returned 1.65 g/t gold over 1m.

 

“As we start to move into the central part of the shear zone, we are seeing higher-grade results than expected,” says Danny Callow, COO of AGG. “We are extremely excited with these exceptional results and with the current rate of drilling exceeding expectations, we are expecting a large number of equally favourable results to come in over the next few weeks.”

 

The Phase 1 drilling program is designed to build on the existing mineral resource estimate (released February 2016) of 1.2 million ounces of gold grading 1.1 g/t gold in indicated and 1.0 million ounces of gold grading 1.0 g/t gold in inferred categories. Drilling to date shows a very strong correlation to the existing resource, and if future drilling results, particularly in the Central Zone, continue to produce favourable results, there could be a material increase in grade. Phase 1 drilling is nearly complete and sites for the planned Phase 2 drilling campaign are currently being prepared.

 

“We are very excited to have intersected more high-grade mineralization in the central zone of the Kobada shear,” says Dr. Andreas Rompel, VP Exploration, “and we are very enthusiastic that the zone of mineralization starts at very shallow depth and continues down dip and has an impressive thickness. This will work in our favour when mining the upper portions, lowering strip ratio with access to early ounces. The results we are seeing in this initial phase of drilling is extremely encouraging and bodes very well for the updated resource model due in January 2020. Bearing in mind that these results are being achieved in only 4km of more than 30km of shear zones identified on our concessions, we could be sitting on a substantially higher resource.”

 

Table 1: Highlights

 

 

    Mineralised Zone Includes
BHID Ore Body From To Composite Length (m) Composite Grade (g/t) From To Includes (m) Includes (g/t)
KB19_P1_17 Main Shear South 50.50 61.50 11.00 1.59 58.40 59.20 0.80 19.00
    110.00 115.00 5.00 1.40 113.00 114.00 1.00 6.39
    125.00 126.00 1.00 1.65        

 

2019 Kobada Mineral resource model upgrade

 

This current Phase 1 drilling program will assist in refining the structural geology and mineralization model that is being established by Minxcon in conjunction with the definitive feasibility study being developed by SENET (as previously announced on August 19, 2019). AGG expects the Phase 1 and Phase 2 drilling campaigns to be completed by the end of December 2019, with further phases of drilling targeting additional shear zones in the first quarter 2020.

 

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 (“NI 43-101“) 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 November 26, 2019

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