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African Gold Group Reports Highest Grade Intersection to Date as Mineralization Extends to the North; 13.27 g/t Gold Over 9.6 Metres

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African Gold Group Reports Highest Grade Intersection to Date as Mineralization Extends to the North; 13.27 g/t Gold Over 9.6 Metres

 

 

 

 

 

African Gold Group, Inc. (TSX-V: AGG) is pleased to report the highest grade intersection to date at its Kobada Gold Project (Figure 1).

 

Highlights Include (Table 1):

 

  • Highest grade intersection at the Kobada Gold Project to date
  • Phase 2 confirms mineralization extends to the north and south, beyond what was previously known
  • Drill hole KB19_P2_04 returned 13.27g/t Au over 9.6 metres (m), including 124.85g/t Au over 1m (Figure 2)
  • Drill hole KB19_P2_06 returned 3.98g/t Au over 2.5m, 1.89g/t Au over 2.6m and 2.49g/t Au over 2m
  • Drill hole KB19_P2_02 returned 4.15g/t Au over 1m

 

Building on the successful Phase 1 campaign, the first results from Phase 2, returned significant intersections, extending the mineralization to the north and south. Phase 2 is currently approximately 80% complete and is progressing northwards (Figure 3) from the central zone and aims to expand the overall mineral resource at the Kobada Gold Project. 

 

“We are extremely happy with these high-grade intersections in the immediate northern and southern extensions of our highly prolific Kobada Shear Zone,” says Dr. Andreas Rompel, Vice President Exploration. “Furthermore, it confirms the mineralization in the shear zones beyond what was previously known, which gives rise to expectations to a much larger mineralized shear zone system on our concessions.”

 

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 Phase 2 drilling campaign is progressing towards the north and aims to extend the resource northward. Continuing mineralization to the north of central zone further supports our view that the Kobada Gold Project is larger than previously suggested.

 

The Company initially planned to issue an updated mineral resource statement based on the Phase 1 drilling program in early February, with the subsequent update based on the Phase 2 drilling results. Due to the quick turn-around time from the assay labs in Bamako, Mali and accelerated drilling schedule by our drilling contractor AMCO, the Company decided to issue an updated mineral resource statement based on results from both our Phase 1 and Phase 2 drilling program. With the Phase 2 drilling program approximately 80% complete, management anticipates issuing an updated mineral resource statement in approximately five to six weeks.

 

Table 1: Highlights

 

 

    Mineralized Zone Includes
BHID Ore Body From To Composite
Length (m)
Composite
Grade (g/t)
From To Includes
(m)
Includes
(g/t)
KB19_P2_02 Main Shear South 1.00 13.50 12.50 0.82 12.00 13.50 1.50 4.15
KB19_P2_04 Main Shear South 117.00 138.00 21.00 6.14 135.00 136.00 1.00 124.85
KB19_P2_06 Main Shear South 68.00 70.00 2.00 2.49        
    88.60 91.10 2.50 3.98        
    93.50 96.00 2.50 1.63        
    103.40 106.00 2.60 1.89        

 

Figure 1: Kobada exploration targets is available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/00fbeb3a-42a8-412e-af8d-5d9aabf63a74

 

Figure 2: Section showing the drill hole KB19_P2_04 (blue) intersecting the mineralized Kobada Shear Zone (orange and red) is available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/410666a0-860e-44e8-92b9-06fb6c2d7aa9

 

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

https://www.globenewswire.com/NewsRoom/AttachmentNg/19f90708-8502-4a99-ae32-3a420f6ef794 

 

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.

 

Table 2: Assay results from the main mineralized zone (reported length measured along the holes)

 

 

    Mineralized Zone Includes
BHID Ore Body From To Composite
Length (m)
Composite
Grade (g/t)
From To Includes
(m)
Includes
(g/t)
KB19_P2_02 Main Shear South 1.00 13.50 12.50 0.82 12.00 13.50 1.50 4.15
    24.70 34.00 9.30 0.18        
KB19_P2_01 Main Shear South 4.50 65.00 60.50 0.40 20.50 21.50 1.00 3.28
            30.50 33.00 2.50 1.09
            40.00 42.00 2.00 1.69
            48.00 49.00 1.00 1.71
            57.00 59.00 2.00 1.22
KB19_P2_05 Main Shear South 0.00 5.90 5.90 0.16        
    48.00 50.00 2.00 0.20        
    98.00 100.30 2.30 1.33 98.00 99.20 1.20 2.40
KB19_P2_04 Main Shear South 5.00 17.00 12.00 0.43 13.00 14.00 1.00 3.00
    21.00 23.00 2.00 0.27        
    56.00 57.00 1.00 0.64        
    84.00 97.00 13.00 0.46 84.00 85.00 1.00 3.37
            88.00 89.00 1.00 1.18
    117.00 138.00 21.00 6.14 135.00 136.00 1.00 124.85
            136.00 137.00 1.00 1.24
    143.00 147.00 4.00 0.17        
    158.00 160.00 2.00 0.30        
KB19_P2_06 Main Shear South 32.30 34.00 1.70 0.56        
    42.40 44.20 1.80 0.95        
    50.50 124.50 74.00 0.63 62.40 63.30 0.90 1.19
            68.00 70.00 2.00 2.49
            88.60 91.10 2.50 3.98
            93.50 96.00 2.50 1.63
            97.00 99.00 2.00 1.31
            101.00 102.40 1.40 1.01
            103.40 106.00 2.60 1.89
    140.30 141.50 1.20 0.81        
    164.00 166.20 2.20 0.37        
    172.20 179.80 7.60 0.26        
    187.80 207.00 19.20 0.12        

 

 

Cumulative Mineralization Widths

 

 

BHID Cumulative
Mineralization Width
(m)
Mean Grade
(g/t)
KB19_P2_02 21.80 0.55
KB19_P2_01 60.50 0.40
KB19_P2_05 10.20 0.43
KB19_P2_04 55.00 2.59
KB19_P2_06 107.70 0.51

 

 

Significant Intersections (Above 1 g/t)

 

 

BHID From To Intersection
Length (m)
Au Grade
(g/t)
KB19_P2_02 12.00 13.50 1.50 4.15
KB19_P2_01 20.50 21.50 1.00 3.28
  30.50 33.00 2.50 1.09
  40.00 42.00 2.00 1.69
  48.00 49.00 1.00 1.71
  57.00 59.00 2.00 1.22
KB19_P2_05 98.00 99.20 1.20 2.40
KB19_P2_04 13.00 14.00 1.00 3.00
  84.00 85.00 1.00 3.37
  88.00 89.00 1.00 1.18
  135.00 136.00 1.00 124.85
  136.00 137.00 1.00 1.24
KB19_P2_06 62.40 63.30 0.90 1.19
  68.00 70.00 2.00 2.49
  88.60 91.10 2.50 3.98
  93.50 96.00 2.50 1.63
  97.00 99.00 2.00 1.31
  101.00 102.40 1.40 1.01
  103.40 106.00 2.60 1.89

 

Posted February 11, 2020

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