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African Gold Group Inc.
Summary
| Project: | Kobada | |
|---|---|---|
| Deposit: | Kobada | |
| Location: | Mali | |
| Commodities: | Gold | |
| Date: | 1/29/2020 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Mine Development | |
| Report details: | 29-1-2020: African Gold Group Inc. announces an Exploration/Drilling Update report for its Kobada deposit at the Kobada project. Drilling results incl. 21.60m @ 1.67g/t Au from 14.00m. TORONTO, Jan. 29, 2020 -- 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, Jan. 29, 2020 -- African Gold Group, Inc. (TSX-V: AGG) (“AGG” or the “Company”) is pleased to report the final results for the Phase 1 drilling campaign at the Kobada Gold Project. The Phase 1 drilling campaign focused on confirming and upgrading the confidence level of the resource in the feasibility study from 2016 (the “2016 Feasibility Study”) and the previously established structural mineralization model. The Company expects to issue an updated mineral resource statement in February 2020. The results from the Phase I drilling campaign returned better than expected grades within the central zone of the Kobada main shear and reinforced the predictiveness of our geological model. High-grade intersections over a greater thickness together with additional resources in the satellite orebodies is expected to complement the resource model favourably. “The very compact high-grade intersections over several metres in the area of the future open pit are very encouraging,” says Dr. Andreas Rompel, Vice President Exploration of the Company. “We are very pleased with the completion of the Phase 1 drilling program and are keenly expecting the revised resource model and more positive results from Phase 2. The Kobada ore body is exhibiting significant upside potential and our focus now is on targeting extensions to the main shear zone where the drilling has been focused, but also to explore other shear zones on the concession. To date we have still only drilled approximately 4km of the main shear zone, in which the updated resource will be targeted. There are an additional 26 strike kilometres of identified shear zones, exhibiting identical geological characteristics to the Kobada shear. Based upon the work done to date, it becomes obvious that there is great potential to significantly increase the Kobada resource on the back of additional exploration drilling.” | |
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