African Gold Group, Inc. 67 RC Drill Holes Shipped to Lab; 3,980 m of Trench Results Compiled; Auger Drill Identifies RC Drill Targets Up to 1.8 km South of 43-101 Resource, at Kobada, Mali
Published : March 22, 2011
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Keywords :   Burkina Faso | Canada | Ghana | Gold | Mali | Market |

TORONTO, ONTARIO--(Marketwire - March 22, 2011) - African Gold Group, Inc., ("AGG" or the "Company") (News - Market indicators) is pleased to report that AGG's 2011, ongoing exploration program, continues to advance its Kobada, Mali gold project. This multi-pronged exploration initiative currently consists of:

  • step out RC drilling along north and south extensions of Zone 1 deposit;
  • trenching south and south east of the 43-101 resource envelope;
  • regional auger drilling, over 7.2 linear km's of strike, in areas where the depth of the saprolite horizon exceeds the safe or possible depth of trenching;
  • regional geochemical surveys over the entire 216 sq km Kobada gold project, including surveys of remote geophysical targets that were identified by the 2010 airborne geophysical survey.
  • Asankrangwa, Ghana – gearing up for drilling

Step Out RC Drill Progress – North of Zone 1

At present, the Company is pleased to report that a total of 80 RC drill holes have been completed at Kobada, Mali. Drill samples representing a total of 67 step out RC drill holes have been shipped to ALS Chemex's facilities in Burkina Faso for analysis using Leachwell on two (2) kilograms (kg) of pulp. (Leachwell is a bottle roll cyanidation procedure with the addition of a catalyst to speed up gold dissolution.)

AGG's 2011 RC step out drill program commenced with the testing of four distinct regions along the perceived northern extension of the Zone 1 deposit. Each of the four northern regions that were drill tested consisted of a small pattern of RC drill holes that were collared on two lines spaced 50 meters apart. The RC holes on each of the respective two lines were offset, or staggered 20 meters, relative to the RC holes of the other line. The most northern zone that was drill tested is located approximately 2 km's north of the mineralized envelope that contains the Zone 1, 43-101 resource, on sections 400N and 350N. A total of 27 RC step out holes were drilled in the four distinct northern regions of the Zone 1 deposit. AGG is working diligently to prepare all material in conjunction for the imminent release of these northern step out RC holes.

AGG anticipates additional step out RC drilling, during the 2011 campaign, to further test and expand the resource within the northern region of Zone 1.

Step Out RC Drill Progress – South of Zone 1

At present, the Company's technical team has moved the RC drill rig from the northern region of the Zone 1 deposit, south to the region representing the perceived southern extensions of the Zone 1 deposit. AGG's initial 2011 step out RC drill holes were motivated by the significant RC drill results generated by the 2010 step out drilling to the immediate south of the 43-101 mineralized resource. Specifically, on August 31, 2010 AGG issued a press release announcing that step out RC drill highlights included:

RPA10-003: 44m @ 2.11 g/t Au, includes 3m @ 19.30 g/t Au (hole ended in mineralization)
RPA10-005: 37m @ 1.47 g/t Au, includes 5m @ 7.48 g/t Au (hole ended in mineralization)
RPA10-006: 26m @ 1.09 g/t Au, (hole ended in mineralization)

Additionally, on November 16, 2010 AGG issued a separate press release announcing that step out RC drill holes intercepted:

RPA10-008A: 102 Meters of 1.00 g/t Au From Surface, Ending in Mineralization
RPA10-008: 45 Meters of 1.57 g/t Au

The above mentioned drill holes are located up to 200 meters south of the southern mineralized envelope that contains the 43-101 resource. AGG's ongoing 2011 step out RC drill campaign is intended to expand this resource to the west and south of the 2010 intercepts discussed above.

At present, a total of 53 step out RC drill holes have been completed to the south of the 43-101 mineralized resource. Samples from 40 of the 53 southern step out holes have been delivered to the facilities of ALS Chemex in Burkina Faso for analysis using Leachwell on two (2) kilograms (kg) of pulp, as previously stated.

AGG's ongoing 2011 step out RC drill campaign is anticipated to extend step out drilling as far as 800 meters south of the mineralized envelope that contains AGG's 43-101 resource. The Company intends to issue separate press releases of the assay results of the southern step out holes as these results are made available.

Auger Drill Exploration To Generate Additional RC Drill Targets

In addition to the ongoing progress of the RC drill rig, the Company is pleased to announce that an auger drill is on site and is being deployed as an exploration tool that provides for an extremely cost effective way of confirming the presence of gold mineralization within the upper saprolite zone of the Kobada gold project. More specifically, the auger drill is being deployed on regions of ground where the combined thickness of both the surface duracrust and the subsequent mottle zone are simply too thick to intercept the targeted underlying upper saprolite region by trenching.

To date, a total of 147 auger drill holes have been completed on three distinct lines. Auger drilling commenced on line 4400S (Line 1) to test for anomalous values of gold on what is perceived to be the southern extension of the Zone 1 deposit. More specifically, line 4400S is located 1.8 km south of the southern boundary, (located on line 2600S), that contains the 43-101 resources. Auger drill Lines 2 and 3 have also been completed, all three completed lines generated a total of 147 auger drill holes, to date. Auger drill Lines 4 through 12 remain a work in progress.

AGG's 2011 auger drill program will ultimately cover 7.2 linear km's of strike, upon completion of Line 1 inclusive through line 12, or from line 4400S through to line 3200N. The vast majority of the auger drill program will be testing new distinct zones of potential gold mineralization, as opposed to north – south strike extensions of the Zone 1 deposit. Please activate the link to the plan map to observe the location of the auger drill lines: http://media3.marketwire.com/docs/agg322.pdf

Purchase Of Auger Drill

The Company is pleased to advise that it has initiated procedures to purchase a track mounted auger drill for delivery to Kobada, Mali. The cost effectiveness of this tool in establishing step out RC drill targets, that are intended to grow AGG's Kobada gold project, represent the impetus for the decision. As AGG's geologists continue to explore the entire 216 sq km footprint of the Kobada gold project, they are reporting the presence or discovery of distinct local gold diggings, both ancient or current, in intervals of 500 meters, or less, in any direction as they traverse Kobada. Geochem surveys, that are underway, will eventually cover the entire 216 sq km gold project. Auger drilling will follow up the investigation of anomalous soil values, which would include the sampling of termite mounds. Auger drilling anomalous zones is proving to be the most effective means of determining whether the gold anomaly is associated with a placer deposit, (or transported gold), or is in fact the presence of insitu gold in saprolite: the desired target for further investigation.

Excavator Trench Program

The Company is pleased to advise that the excavator trench program, that commenced in late 2010, was completed during the first quarter of 2011. A total of 3,980 meters of trenching was completed in 8 distinct trenches that tested both the perceived southern extensions of the Zone 1 deposit, in addition to, distinct zones or targets that are situated to the east and south east of the Zone 1 deposit, that are located in what AGG has dubbed, the Termite Zone.

AGG considers the auger drill program and trench program to be the primary drivers of the ongoing systematic exploration program for guiding RC step out drill hole locations. The importance of these exploration tools cannot be overstated from an economic point of view as the cost of auger drilling and or trenching represents a fraction of what it costs to deploy the RC rig and test for gold mineralization.

AGG's technical crew have just completed compiling the assay results of the recently completed trench program. At present, a program consisting of 80 distinct step out RC drill holes, based on trench results, has been planned to test the area between sections 2700S and 3550S. This program is underway. Please activate the link to view a plan map to observe trench locations: http://media3.marketwire.com/docs/agg322.pdf

Asankrangwa, Ghana Progress

AGG is pleased to advise that work commenced in early January, 2011 at the Company's Asankrangwa, Ghana holdings. AGG's consolidated Asankrangwa land holdings comprise 5 contiguous concessions (Assuowunu, Twedee, Moseaso, Manso Nkwanta and Manso Atwere) that collectively encompass 456.2 sq. km of ground, representing 94% of the active exploration ground contained within the Northern Asankrangwa gold belt. A gold-in-soil anomaly that measures 24 kilometers in strike length, oriented in a north-east / south-west (NE/SW) direction, is contained within AGG's consolidated boundaries. This linear anomaly is perceived to run parallel to the major structural target(s) currently being drilled by Keegan Resources at its 28 sq. km Esaase concession. Please visit www.africangoldgroup.com to view AGG's Asankrangwa Holdings.

AGG's exploration crews are advancing a series of geochem surveys over structural targets identified by AGG's 2010 high resolution helicopter airborne survey that was flown over the entire 456 sq km Asankrangwa footprint.

A significant mapping exercise within the Manso Atwere concession has been completed, with an emphasis on the region containing the significant artisanal excavations that form the Dwabosso Pit.

Separately, a geological team has completed the re-logging of all drill core that has emanated from various drill programs from within the Asankrangwa Holdings.

Planning and preparation for a drill program, based on the compilation of all available regional information, is well underway and will form the basis of a separate news release in the near future.

The Company remains confident that this program will be underway in the near future and will approximate 20,000 meters, consisting of both RC and Core drilling. The program will focus on the western segment of the Asankrangwa Holdings and include significant work on the Assuowunu concession, which is contiguous and on strike with Keegan Resources' Esaase deposit, which is estimated to contain an indicated and inferred resource that approximates 4.9 million oz's Au.

African Gold Group, Inc., based in Toronto, Canada, is engaged in the identification, acquisition and exploration of prospective gold projects that are situated along significant gold trends within West Africa. To date, the Company controls a total of eleven gold concessions that are consolidated in five distinct standalone exploration projects, of which three projects are located in Ghana and the remaining two are located in Mali, West Africa.

Additional Information is available on the Company's website at www.africangoldgroup.com and on www.sedar.com and through the Company's offices at: Sun Life Financial Tower, Suite 2518, 150 King St. West, Toronto, Canada M5H 1J9.

On Behalf of the Board:

Michael A. J. Nikiforuk, President, Director

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

African Gold Group, Inc.
Michael A. J. Nikiforuk
President, Director
(416) 644-8892 ext 101
info@africangoldgroup.com
Data and Statistics for these countries : Burkina Faso | Canada | Ghana | Mali | All
Gold and Silver Prices for these countries : Burkina Faso | Canada | Ghana | Mali | All

African Gold Group Inc.

EXPLORATION STAGE
CODE : AGG.V
ISIN : CA00829A1066
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African Gold Group is a gold exploration company based in Canada.

African Gold Group holds various exploration projects in Ghana.

Its main exploration properties are BAGOE - EAST, BAGOE - WEST and KOBADA in Mali and NYANKUMASI, MANKRANHO and ASANKRANGWA in Ghana.

African Gold Group is listed in Canada and in United States of America. Its market capitalisation is CA$ 48.9 millions as of today (US$ 39.1 millions, € 34.3 millions).

Its stock quote reached its highest recent level on April 02, 2004 at CA$ 3.40, and its lowest recent point on April 12, 2019 at CA$ 0.01.

African Gold Group has 326 100 000 shares outstanding.

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Financings of African Gold Group Inc.
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1/20/2010(Kobada)Multi-Phase Work Program Focused on Surpassing 1,000,000 oz ...
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Corporate news of African Gold Group Inc.
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10/28/2015African Gold Group, Inc. Announces Metalurgical Test Work Co...
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10/29/2014Kobada Metallurgy Test Work Confirms 85.2% Gold Recovery for...
10/28/2014African Gold Group Unaware of Any Material Change
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7/29/2014African Gold Group Updates on Kobada Feasibility Study
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6/19/2014African Gold Group, Inc.: Bulk Sampling Results Identifies S...
5/22/2014African Gold Group Closes Over-Subscribed Non-Brokered Priva...
4/29/2014African Gold Group Strengthens Mine Development Team With th...
3/25/2014African Gold Group, Inc. Announces Early Warrant Exercise In...
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7/8/2013Annual and Special Shareholder Meeting
6/20/2013letter Press Release June 18 2013
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5/29/2013KBRC12-160 Intercepts 75 Meters of 3.06 g/t Au; KBRC12-201 I...
5/29/2013KBRC12-160 Intercepts 75 Meters of 3.06 g/t Au; KBRC12-201 I...
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2/5/2013(Mankranho)Completes Sale of Mankranho, Ghana Concession for US$4,000,0...
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10/10/2012(Mankranho)Announces Sale of Mankranho, Ghana Concession for US$4,000,0...
5/1/2012May 01/2012
3/29/2012March 29/2012
3/20/2012March 20/2012
11/29/2011Nov 30/11
10/26/2011Featured In The Financial Post,
10/25/2011Oct 25/11
9/14/2011Sept 14/11
8/25/2011Featured In The Financial Post, Mining News
7/13/2011July 13/11
7/13/2011Positive Preliminary Economic Assessment Generates $216.9 Mi...
6/1/2011June 01/11
6/1/2011Southern Step Out Hole Intercepts 96 Meters of 1.35 g/t Au f...
4/5/2011April 05/11
3/29/2011March 29/11
3/22/2011March 22/ 11
3/22/201167 RC Drill Holes Shipped to Lab; 3,980 m of Trench Results ...
3/16/2011Re-Adopts Shareholder Rights Plan
4/29/2008 included in The Gold Newsletter, April 2008 Edition
4/16/2008Trenching Returns 84 Meters Of 3.0 G Au/T, Including 36 Mete...
2/25/2008 Retains AGORACOM To Provide Google Search Engine IR Program...
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