African Gold Group Inc.

Published : April 09th, 2008

Intercepts 9 Meters Of 25.8 G Au/T
Mineralization Identified Over 5.5 K

( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  
0
Send
0
comment


  Wednesday, April 09, 2008
African Gold Group, Inc. Intercepts 9 Meters Of 25.8 G Au/T
Mineralization Identified Over 5.5 Km Of Strike At Kobada, Mali


 
TORONTO, CANADA, APRIL 09, 2008 -- African Gold Group, Inc., ("AGG" or the "Company") is pleased to report the assay results for 71 reverse circulation ("RC") step-out drill holes, drilled on 9 lines covering a total of 5.5 kilometers of strike length at Kobada, Mali. These holes were drilled on a N30ºE orientation and are hypothesized to represent the potential strike extension, to the north and south of "Zone 1".

STEP-OUT RC DRILL HIGHLIGHTS
  • KBRC7-5: 9 meters grading 25.8 g Au/t, including 1 meter of 228 g Au/t
  • KBRC7-6: 14 meters grading 3.66 g Au/t, including 9 meters of 4.61 g Au/t
  • KBRC7-8: 18 meters grading 1.78 g Au/t, including 7 meters of 3.59 g Au/t (ended in mineralization).
  • KBRC7-15: 22 meters grading 1.48 g Au/t, including 10 meters of 1.98 g Au/t
RESULTS AND ANALYSIS

For coherence, the results from the 71 RC drill holes have been organized according to the section the hole was drilled on as opposed to numerical order and are depicted in Table 1 below. All of the RC holes were drilled to a depth of approximately 90 meters (down the hole) at an angle of -55º and an azimuth of 290º. Please see the attached map for the collar locations and the respective section the holes were drilled on.

Please click to see the map

The ALS Chemex Laboratory in Bamako is used as the analytical facility for the Kobada Project. Reverse circulation (RC) samples were dried and crushed in their totality. A 500 gram split of the crushed sample, nominally at 3 mm was then pulverized to approximately 90% passing 75 µm (200 mesh). The coarse material was retained as crusher reject and stored in its original numbered sample bag. Approximately 200 grams of the pulp was retained in a sample packet. A 50 gram sample from the packet was analysed for gold by conventional fire assay with an instrumental AAS finish.

TABLE 1: ASSAY RESULTS FOR RC STEP-OUT HOLES -- KOBADA, MALI
Significant Intersections On Sections Drilled

SECTION

HOLE

INTERVAL

Length

Au (g/t)

From

To

L 3400 S

KBRC07-108

85

88

3m

9.17

L 3400 S

KBRC07-109

0

4

4m

1.88

L 3400 S

KBRC07-110

24

25

1m

2.47

L 3400 S

KBRC07-107

 

 

 

No significant intercept

L 1200 S

KBRC07-1

15

18

3m

1.01

L 1200 S

KBRC07-2

6

7

1m

1.15

L 1200 S

KBRC07-3

17

25

8m

1.30

 

incl.

 

1m

4.70

L 1200 S

KBRC07-3

37

41

4m

1.07

L 1200 S

KBRC07-3

59

60

1m

1.29

L 1200 S

KBRC07-4

42

48

6m

1.97

 

incl.

42

43

1m

7.66

 

and

46

48

2m

1.82

L 1200 S

KBRC07-4

62

63

1m

1.30

L 1200 S

KBRC07-5

2

3

1m

4.93

L 1200 S

KBRC07-5

16

24

9m

25.8

 

incl.

16

17

1m

228.00

 

and

20

24

4m

0.82

L 1200 S

KBRC07-6

14

28

14m

3.66

 

incl.

19

28

9m

4.61

L 1200 S

KBRC07-6

50

62

12m

0.71

 

incl.

50

54

4m

1.07

 

and

60

62

2m

1.80

L 1200 S

KBRC07-7

9

36

27m

1.05

 

incl.

12

15

3m

2.78

 

and

27

35

8m

1.76

L 1200 S

KBRC07-7

64

66

2m

7.76

L 1200 S

KBRC07-7

80

81

1m

13.85

L 1200 S

KBRC07-8

7

12

5m

2.61

 

incl.

 

 

1m

10.15

L 1200 S

KBRC07-8

19

20

1m

1.69

L 1200 S

KBRC07-8

27

36

9m

0.96

 

incl.

27

30

3m

1.75

 

and

24

36

2m

1.47

L 1200 S

KBRC07-8

42

52

10m

1.09

 

incl.

42

44

2m

3.25

 

and

51

52

1m

1.69

L 1200 S

KBRC07-8

61

63

2m

1.14

L 1200 S

KBRC07-8

72

90

18m

1.78

 

incl.

77

78

1m

3.59

 

and

80

87

7m

3.59

L 1200 S

KBRC07-9

12

13

1m

5.31

L 1200 S

KBRC07-10

4

9

5m

0.76

 

incl.

4

5

1m

1.06

 

and

8

9

1m

2.27

L 400 S

KBRC07-11

11

12

1m

7.41

 

KBRC07-12-13

 

 

 

No significant intercept

L 400 S

KBRC07-14

41

42

1m

1.33

L 400 S

KBRC07-15

5

13

8m

5.08

 

incl.

5

11

6m

6.65

L 400 S

KBRC07-15

23

45

22m

1.48

 

incl.

23

30

7m

2.10

 

and

35

45

10m

1.98

L 400 S

KBRC07-15

57

60

3m

1.24

L 400 S

KBRC07-16

 

 

 

No significant intercept

L 400 S

KBRC07-17

10

11

1m

2.01

L 400 S

KBRC07-17

59

60

1m

1.27

L 400 S

KBRC07-17

76

77

1m

1.58

 

KBRC07-18

 

 

 

No significant intercept

L 400 S

KBRC07-19

54

55

1m

2.38

 

KBRC07-20-23

 

 

 

No significant intercept

L 00

KBRC07-24

6

8

1m

1.30

L 00 

KBRC07-25-26

 

 

 

No significant intercept

L 400 N

KBRC07-27-28

 

 

 

No significant intercept

L 400 N

KBRC07-29

11

12

1m

1.44

 

KBRC07-29

23

25

2m

0.48

 

KBRC07-29

48

50

2m

0.98

L 400 N

KBRC07-30

37

38

1m

1.77

 

KBRC07-30

55

57

2m

6.86

 

KBRC07-30

64

68

4m

1.11

L 400 N

KBRC07-31

 

 

 

No significant intercept

L 400 N

KBRC07-32

7

8

1m

1.58

L 400 N

KBRC07-33-36

 

 

 

No significant intercept

L 400 N

KBRC07-37

5

6

1m

1.36

L 400 N

KBRC07-38

55

59

4m

5.00

 

incl.

56

59

3m

6.47

L 400 N

KBRC07-38

27

28

1m

0.56

L 400 N

KBRC07-38

55

60

5m

4.04

L 400 N

KBRC07-39-40

 

 

 

No significant intercept

L 400 N

KBRC07-41

3

4

1m

1.6

L 400 N

KBRC07-41

69

71

2m

1.34

L 400 N

KBRC07-42-43

 

 

 

No significant intercept

L 1000 N

KBRC07-44-47

 

 

 

No significant intercept

L 1000 N

KBRC07-48

55

57

2m

2.96

L 1400 N

KBRC07-49-53

 

 

 

No significant intercept

L 1400 N

KBRC07-54

62

63

1m

 

L 1400 N

KBRC07-54

85

86

1m

8.99

L 1400 N

KBRC07-55

 

 

 

No significant intercept

L 2000 N

KBRC07-56

68

71

3m

0.56

L 2000 N

KBRC07-57-60

 

 

 

No significant intercept

L 2000 N

KBRC07-61

17

23

6m

1.52

L 2000 N

KBRC07-61

30

33

3m

0.61

L 2000 N

KBRC07-61

39

48

9m

0.28

L 2000 N

KBRC07-61

51

53

2m

0.35

L 2000 N

KBRC07-62-63

 

 

 

No significant intercept

L 2150 N

KBRC07-102

 

 

 

No significant intercept

L 2150 N

KBRC07-103

21

22

1m

0.58

L 2150 N

KBRC07-104

8

14

6m

0.46

L 2150 N

KBRC07-104

25

45

20m

1.62

L 2150 N

KBRC07-105

78

83

5m

0.53

L 2150 N

KBRC07-106

85

86

1m

1.37


"We are most encouraged that this program of reconnaissance reverse circulation drilling, on a 400 meter to 800 meter sectional spacing, has identified gold mineralization over 5.5 km of strike length at Kobada, Mali. In particular, we note the very strong degree of gold mineralization intercepted on section L 1200 S. It is reasonable, at this point in time, to perceive this zone of mineralization as the potential extension of "Zone 1". Furthermore, we note the presence of strong mineralization 800 meters to the north of L 1200 S on section L 400 S but will refrain from any conjecture regarding the spatial relationship of this mineralization, at this point in time. The purpose of this program was to intercept extensions or repetitions of Kobada's productive structure to the north and south of "Zone 1" in as cost-effective a manner as possible. We are of the opinion that we have succeeded in demonstrating the pervasive and extensive nature of gold mineralization at Kobada and remain confident that we will build significantly on the recently announced Mineral Resources Estimate for "Zone 1", which represents approximately 10% of the 12 km anomalous Kobada Trend, states AGG Chairman, Ben Adoo, C. Eng.

In a press release dated April 02, 2008, the Company released the initial 43-101 Mineral Resources estimate for Kobada, Mali, which was completed by Watts, Griffis and McOuat Limited of Toronto ("WGM"), a well respected international consulting firm which has filled the role of AGG's independent consultant since December, 2007. WGM estimates that "Zone 1" of the Kobada deposit, representing approximately 10% of the overall Kobada geochemical trend contains an Inferred Mineral Resource, as presently outlined, of between 450,000 ounces of gold and 740,000 ounces of gold as follows:

Inferred Mineral Resources -- "Zone 1" -- Kobada Project, Mali

Cut-off Grade
( g Au/t )

Tonnage
( x 1,000 )

No Assay Cutting

Assays Cut to 10 g Au/t

Avg. Grade
(g Au/t )

Contained Ounces

Avg. Grade
(g Au/t )

Contained Ounces

0.3

18,381

1.25

738,080

1.11

657,386

0.5

8,482

1.99

542,804

1.72

470,461

1.0

5,569

3.02

540,933

2.53

452,320



This news release has been reviewed and approved by Al Workman, P.Geo. (Ontario), Vice-President of Watts, Griffis and McOuat Limited. The geotechnical portion of this press release has been reviewed and approved by AGG Chairman, Ben Adoo, C. Eng., a Qualified Person.

CORPORATE UPDATE

African Gold Group, Inc. is pleased to announce that Mr. Jaimie MacPherson has been appointed Chief Financial Officer of the Company, subject to regulatory approval. Mr. MacPherson is a Chartered Accountant and is the former Chief Financial Officer of a private equity group located in Hamilton, Bermuda. Upon his return to Canada, he was an audit manager at Moore Stephens Cooper Molyneux, where he specialized in audits of Canadian junior public mining companies. Mr. MacPherson will be responsible for the accounting, financial management and corporate compliance of the Company.

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 twelve 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: BCE Place, Canada Trust Tower, 27th Floor, 161 Bay Street, Toronto, Canada M5J 2S1

On Behalf of the Board:
Michael A. J. Nikiforuk
President, Director

FOR FURTHER INFORMATION PLEASE CONTACT:
African Gold Group, Inc.
Michael A. J. Nikiforuk
(416) 572-2225
info@africangoldgroup.com
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
 


 

African Gold Group Inc.

EXPLORATION STAGE
CODE : AGG.V
ISIN : CA00829A1066
Follow and Invest
Add to watch list Add to your portfolio Add or edit a note
Add Alert Add to Watchlists Add to Portfolio Add Note
ProfileMarket
Indicators
VALUE :
Projects & res.
Press
releases
Annual
report
RISK :
Asset profile
Contact Cpy

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, € 38.5 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.

Your feedback is appreciated, please leave a comment or rate this article.
Rate : Average note :0 (0 vote) View Top rated
 
Financings of African Gold Group Inc.
3/18/2015Announces Closing of Private Placement
3/11/2015Announces Private Placement
9/5/2013Announces the Closing of $1,500,000 Private Placement Offeri...
3/20/2006private placement of up to 4 million shares
Option Grants of African Gold Group Inc.
4/5/2011, Engages Torrey Hills Capital for Investor Relations
Project news of African Gold Group Inc.
8/23/2013(Kobada)Clarifies Disclosure on Kobada, Mali Gold Project Press Rele...
5/3/2010(Asankrangwa)Airborne Survey Of Asankrangwa Holdings -- Contiguous And O...
4/8/2010(Asankrangwa)To Commence Airborne Survey Of Asankrangwa Holdings -- Conti...
2/18/2010(Kobada)Drilling At Kobada, Mali Focused On Surpassing 1,000,000 Oz ...
1/20/2010(Kobada)Multi-Phase Work Program Focused on Surpassing 1,000,000 oz ...
3/24/2010(Kobada)Intersects 18 Meters of 7.04 G/T Au In Zone 1 and 21 Meters ...
10/28/2009(Mankranho)Newmont Confirms Structures That Host Yamfo North-East & Sub...
9/23/2009(Kobada)Kobada "Zone 1" Resources Estimate Will Increase
5/21/2008(Kobada)Files Initial 43-101 Mineral Resources Estimate For "Zone 1"...
4/9/2008(Kobada)Intercepts 9 Meters Of 25.8 G Au/T
Mineralization Identi...
4/2/2008Releases Initial 43-101 Mineral Resources Estimate for "Zone...
3/18/2008(Kobada)Diamond Drilling Set To Test Multiple Structures Parallel To...
3/6/2008(Bagoe - East)Randgold Resources Reports Rab Drilling Is Underway At Bagoe...
Corporate news of African Gold Group Inc.
1/6/2016African Gold Group, Inc. Announces Sale of Ghanian Assets fo...
10/28/2015African Gold Group, Inc. Announces Metalurgical Test Work Co...
9/3/2015African Gold Group Announces Closing of Private Placement
8/5/2015African Gold Group, Inc. Announces Grant of Kobada Mining Li...
7/8/2015African Gold Group, Inc. Announces Election of Mr. Georges C...
2/6/2015African Gold Group to Participate in "Doing Business in Mali...
1/22/2015African Gold Group Closes Second Non-Brokered Private Placem...
1/14/2015African Gold Group Closes Non-Brokered Private Placement for...
12/23/2014African Gold Group, Inc. Announces Filing of Preliminary Eco...
11/25/2014African Gold Group, Inc.: Updated Preliminary Economic Asses...
10/29/2014Kobada Metallurgy Test Work Confirms 85.2% Gold Recovery for...
10/28/2014African Gold Group Unaware of Any Material Change
9/4/2014AGG Appoints David Brown as Company Chairman
7/29/2014African Gold Group Updates on Kobada Feasibility Study
7/23/2014African Gold Group Inc. Completes 2014 Kobada Field Season-B...
7/17/2014African Gold Group, Inc., Appoints Misha Collins Feasibility...
7/9/2014African Gold Group, Inc., Kobada Feasibility Study Work to M...
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...
10/22/2013(Kobada), Engineering Team Mobilizes to Commence Metallurgical Test ...
7/8/2013Annual and Special Shareholder Meeting
6/20/2013letter Press Release June 18 2013
6/18/2013(Kobada)Updated Resources Estimate for Kobada Gold Project Surges to...
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...
5/15/2013KBRC12-084 Intercepts 69 Meters of 2.37 g/t Au; KBRC12-066 I...
5/8/2013Feasibility Study Drilling on 25 Meter Centers Pushes Au Min...
3/25/2013IGE Resources calls for Extra General Meeting, related to th...
2/5/2013(Mankranho)Completes Sale of Mankranho, Ghana Concession for US$4,000,0...
11/5/2012Pope & Company Initiates Equity Research Coverage on African...
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...
Comments closed
 
Latest comment posted for this article
Be the first to comment
Add your comment
TSX-V (AGG.V)OTHER OTC (AGGFF)
0.150+0.00%0.080+0.00%
TSX-V
CA$ 0.150
08/03 10:30 -
0%
Prev close Open
0.150 0.150
Low High
0.145 0.150
Year l/h YTD var.
 -  -
52 week l/h 52 week var.
- -  0.150 -%
Volume 1 month var.
76,091 -%
24hGold TrendPower© : 20
Produces
Develops
Explores for Gold
 
 
 
Analyse
Interactive chart Add to compare
Interactive
chart
Print Compare Export
Last updated on : 3/25/2010
You must be logged in to use the porfolio and watchlists (free)
Top Newsreleases
MOST READ
Annual variation
DateVariationHighLow
20227.14%0.200.08
2021-20.00%0.200.11
2020-40.68%0.380.10
 
5 years chart
 
3 months chart
 
3 months volume chart
 
 
Mining Company News
Plymouth Minerals LTDPLH.AX
Plymouth Minerals Intersects Further High Grade Potash in Drilling at Banio Potash Project - Plannin
AU$ 0.12-8.00%Trend Power :
Santos(Ngas-Oil)STO.AX
announces expected non-cash impairment
AU$ 7.70-0.65%Trend Power :
Oceana Gold(Au)OGC.AX
RELEASES NEW TECHNICAL REPORT FOR THE HAILE GOLD MINE
AU$ 2.20+0.00%Trend Power :
Western Areas NL(Au-Ni-Pl)WSA.AX
Advance Notice - Full Year Results Conference Call
AU$ 3.86+0.00%Trend Power :
Canadian Zinc(Ag-Au-Cu)CZN.TO
Reports Financial Results for Q2 and Provides Project Updates
CA$ 0.12+4.55%Trend Power :
Stornoway Diamond(Gems-Au-Ur)SWY.TO
Second Quarter Results
CA$ 0.02+100.00%Trend Power :
McEwen Mining(Cu-Le-Zn)MUX
TO ACQUIRE BLACK FOX FROM PRIMERO=C2=A0
US$ 11.94+9.34%Trend Power :
Rentech(Coal-Ngas)RTK
Rentech Announces Results for Second Quarter 2017
US$ 0.20-12.28%Trend Power :
KEFIKEFI.L
Reduced Funding Requirement
GBX 0.54-0.19%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
CA$ 0.06+0.00%Trend Power :
Imperial(Ag-Au-Cu)III.TO
Closes Bridge Loan Financing
CA$ 2.69+13.03%Trend Power :
Guyana Goldfields(Cu-Zn-Pa)GUY.TO
Reports Second Quarter 2017 Results and Maintains Production Guidance
CA$ 1.84+0.00%Trend Power :
Lundin Mining(Ag-Au-Cu)LUN.TO
d Share Capital and Voting Rights for Lundin Mining
CA$ 15.60+1.83%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
CA$ 0.24+0.00%Trend Power :
Havilah(Cu-Le-Zn)HAV.AX
Q A April 2017 Quarterly Report
AU$ 0.20+2.63%Trend Power :
Uranium Res.(Ur)URRE
Commences Lithium Exploration Drilling at the Columbus Basin Project
US$ 6.80-2.86%Trend Power :
Platinum Group Metals(Au-Cu-Gems)PTM.TO
Platinum Group Metals Ltd. Operational and Strategic Process ...
CA$ 1.87+5.65%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
US$ 52.61+0.98%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
CA$ 8.66-0.35%Trend Power :
Terramin(Ag-Au-Cu)TZN.AX
2nd Quarter Report
AU$ 0.04+5.56%Trend Power :