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African Gold Group Inc.

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Summary

Project:

Kobada

Deposit:Kobada
Location:Mali
Commodities:Gold
Date:7/13/2020
Report Code:NI43-101
Report Type:Feasibility Study
Project Stage:Mine Development
Report details:13-7-2020: African Gold Group Inc. announces a Feasibility Study report for its Kobada deposit at the Kobada project. Feasibility study results incl. post-tax NPV (5%) of US$226M & IRR of 41.1%. The Kobada Gold Project is located in southern Mali, approxi
Resources:(Reserves, P+P): 27.13Mt @ 0.87g/t Au (754.8koz Au)
CP/QP:[Resource] Uwe Engelmann (Minxcon Pty Ltd.)
ABSTRACT:The Kobada Gold Project is located in southern Mali, approximately 125 km in a straightline south-southwest of the capital city Bamako, and is situated adjacent to the Niger River and the international border with Guinea. The Kobada Gold Project is based on one mining exploitation permit of 136 km2 and one exploration permit of 80 km2 which are wholly owned by AGG Mali SARL, the local Malian Company, 100% owned subsidiary of African Gold Group. AGG completed 116,870 metres of diamond, reverse circulation, air core and auger drilling between 2005 and 2012. In 2015, AGG completed a further 1,398 metres of diamond core drilling over 136 diamond drill holes. The current AGG exploration re-commenced in August 2019 and an additional 11,428 metres of diamond core have been drilled. Gold mineralization is present in the laterite, saprolite, and quartz veins that comprise the project, and in the sulphidic hard rock underneath. There are also placer style deposits in the region.

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