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African Gold Group Inc.
Summary
| Project: | Kobada | |
|---|---|---|
| Deposit: | Kobada | |
| Location: | Mali | |
| Commodities: | Gold | |
| Date: | 11/26/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Mine Development | |
| Report details: | 26-11-2019: African Gold Group Inc. announces an Exploration/Drilling Update report for its Kobada deposit at the Kobada project. Drilling results incl. 11.00m @ 1.59g/t Au from 50.50m. TORONTO, Nov. 26, 2019 -- African Gold Group, Inc. (TSX-V: AGG) (“AGG | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Andreas Rompel, Uwe Engelmann (Internal;Minxcon Pty Ltd.) | |
| ABSTRACT: | TORONTO, Nov. 26, 2019 -- African Gold Group, Inc. (TSX-V: AGG) (“AGG” or the “Company”) 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. “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.” | |
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