 | | Published : March 24th, 2010 | Intersects 18 Meters of 7.04 G/T Au In Zone 1 and 21 Meters Of 4.89 G/T Au on 400 Meter Step-Out, at |
|
Article
|
Comments
|
Comment this article
|
Rating
|
♥
Follow Company
|
|
 |
 |


|
Wednesday, March 24, 2010 African Gold Group, Inc., Intersects 18 Meters of 7.04 G/T Au In Zone 1 and 21 Meters Of 4.89 G/T Au on 400 Meter Step-Out, at Kobada, Mali
|
|
TORONTO, CANADA, March 24, 2010 -- African Gold Group, Inc., ("AGG" or the "Company") is pleased to report the drill results from a campaign of due diligence drilling consisting of 22 reverse circulation ("RC") holes and 2 Diamond drill ("DD") Holes.
HIGHLIGHTS
KBRC9-04: 42 m @ 1.91 g/t Au, including 1 m @ 25.90 g/t Au KBRC9-05: 18 m @ 1.02 g/t Au KBRC9-05: 18 m @ 7.04 g/t Au, including 1 m @ 112.25 g/t Au (ended in mineralization) KBRC9-08: 11 m @ 2.42 g/t Au KBRC9-09: 44 m @ 0.97 g/t Au KBRC9-15: 10 m @ 1.06 g/t Au KBRC9-17: 8 m @ 6.13 g/t Au, (ended in mineralization) KBRC9-19: 9 m @ 1.68 g/t Au KBRC9-20: 8 m @ 7.74 g/t Au KBRC9-20: 21 m @ 4.89 g/t Au, includes 1 m @ 77.99 g/t Au (ended in mineralization) KBRC9-21: 26 m @ 0.88 g/t Au, (ended in mineralization) KB09-100: 16 m @ 0.92 g/t Au (DD hole)
This drill campaign was funded and undertaken by a distinct, separate corporate entity. Drilling represented part of a larger due diligence initiative, which in turn comprised part of a broader Confidentiality Agreement between AGG and the undisclosed corporate entity. The terms of the Confidentiality Agreement provide for AGG to receive and incorporate drill results into AGG's broader Kobada technical data base, as well as, disseminate the information to shareholders.
A total of 24 drill holes were completed during this campaign. Eleven of the 24 holes (9 RC and 2 DD holes) were drilled on 100 meter sections within "Zone 1" of the Kobada deposit, the area from which the 2008 initial resources estimate was based on (see press release dated May 20, 2008 & September 23, 2009).
The drill results from the 11 holes drilled within the saprolite region of "Zone 1" are listed in Table 1 below:
Table 1: Results From 9 RC & 2 DD Holes In Saprolite Within"Zone 1" |
Section |
Hole ID |
From (m) |
To (m) |
L (m) |
Au (ppm) |
Comment |
2100S |
KBRC9-01 |
4 |
20 |
16 |
0.73 |
120 meters* |
2100S |
KBRC9-01 |
26 |
34 |
8 |
0.62 |
|
2500S |
KBRC9-02 |
4 |
18 |
14 |
1.24 |
|
2500S |
KBRC9-02 |
24 |
32 |
8 |
1.46 |
64 meters* |
2500S |
KBRC9-02 |
40 |
43 |
3 |
0.55 |
|
2500S |
KBRC9-02 |
51 |
54 |
3 |
0.59 |
|
2400S |
KBRC9-03 |
0 |
11 |
11 |
0.48 |
|
2400S |
KBRC9-03 |
25 |
29 |
4 |
1.30 |
80 meters* |
2400S |
KBRC9-03 |
51 |
54 |
3 |
0.40 |
|
2400S |
KBRC9-03 |
64 |
67 |
3 |
0.31 |
|
2300S |
KBRC9-04 |
0 |
42 |
42 |
1.91 |
|
2300S |
includes |
8 |
9 |
1 |
25.90 |
89 meters* |
2300S |
KBRC9-04 |
52 |
57 |
5 |
0.39 |
|
2200S |
KBRC9-05 |
0 |
3 |
3 |
0.84 |
|
2200S |
KBRC9-05 |
14 |
32 |
18 |
1.02 |
|
2200S |
KBRC9-05 |
42 |
60 |
18 |
7.04 |
100 meters* |
2200S |
includes |
48 |
49 |
1 |
112.25 |
|
2200S |
KBRC9-05 |
66 |
71 |
5 |
0.25 |
|
2200S |
KBRC9-05 |
77 |
80 |
3 |
2.04 |
|
2200S |
KBRC9-05 |
97 |
100 |
3 |
0.40 |
Ends In Mineralization |
2600S |
KBRC9-06 |
8 |
18 |
10 |
0.44 |
|
2600S |
KBRC9-06 |
24 |
27 |
3 |
0.42 |
|
2600S |
KBRC9-06 |
32 |
37 |
5 |
0.54 |
72 meters* |
2600S |
KBRC9-06 |
43 |
54 |
11 |
0.90 |
|
2600S |
KBRC9-06 |
58 |
61 |
3 |
0.34 |
|
2600S |
KBRC9-06 |
65 |
68 |
3 |
0.36 |
|
1900S |
KBRC9-07 |
0 |
15 |
15 |
0.97 |
90 meters* |
1900S |
KBRC9-07 |
23 |
34 |
11 |
1.47 |
|
1800S |
KBRC9-08 |
0 |
13 |
13 |
0.80 |
|
1800S |
KBRC9-08 |
28 |
31 |
3 |
1.37 |
100 meters* |
1800S |
KBRC9-08 |
38 |
45 |
7 |
1.16 |
|
1800S |
KBRC9-08 |
62 |
73 |
11 |
2.42 |
|
1700S |
KBRC9-09 |
6 |
50 |
44 |
0.97 |
|
1700S |
KBRC9-09 |
60 |
63 |
3 |
0.39 |
120 meters* |
1700S |
KBRC9-09 |
76 |
79 |
3 |
1.38 |
|
1700S |
KBRC9-09 |
94 |
102 |
8 |
0.93 |
|
2000S |
KB09-100 |
18 |
20 |
3 |
3.44 |
Core Hole |
2000S |
KB09-100 |
27 |
30 |
3 |
0.34 |
|
Table 1 |
Cont'd |
|
|
|
|
|
2000S |
KB09-100 |
32 |
35 |
3 |
0.49 |
100 meters* |
2000S |
KB09-100 |
56 |
72 |
16 |
0.92 |
|
2000S |
KB09-100 |
77 |
86 |
8 |
0.38 |
|
1600S |
KB09-101 |
0 |
11 |
11 |
0.68 |
Core Hole |
1600S |
KB09-101 |
17 |
22 |
5 |
0.48 |
|
1600S |
KB09-101 |
35 |
41 |
5 |
2.96 |
100 meters* |
1600S |
KB09-101 |
68 |
83 |
15 |
0.75 |
|
* represents length down the hole - all holes drilled at -55� |
The remaining 13 RC holes were drilled outside of the known resource with the specific intent of testing the "blue-sky" potential along strike to the north of "Zone 1". The most northerly holes were drilled on section 1100S, representing a 450 meter step-out to the north of section 1550S, the most northerly section of "Zone 1".
The drill results from the 13 RC step-out holes to test the "blue-sky" potential, to the north of "Zone 1" along strike are listed in Table 2 below.
Table 2: Results From 13 RC Step-Out Holes Within Saprolite |
1500S |
KBRC9-10 |
0 |
14 |
14 |
0.63 |
84 meters* |
1400S |
KBRC9-11 |
2 |
12 |
10 |
0.91 |
100 meters* |
1400S |
KBRC9-12 |
0 |
3 |
3 |
0.55 |
100 meters* |
1400S |
KBRC9-12 |
23 |
26 |
3 |
0.65 |
|
1300S |
KBRC9-13 |
17 |
20 |
3 |
0.84 |
108 meters* |
1300S |
KBRC9-13 |
25 |
28 |
3 |
0.33 |
|
1300S |
KBRC9-14 |
78 |
81 |
3 |
1.34 |
102 meters* |
1400S |
KBRC9-15 |
3 |
6 |
3 |
2.17 |
|
1400S |
KBRC9-15 |
74 |
77 |
3 |
0.38 |
96 meters* |
1400S |
KBRC9-15 |
82 |
92 |
10 |
1.06 |
|
1300S |
KBRC9-16 |
10 |
13 |
3 |
3.16 |
|
1300S |
KBRC9-16 |
38 |
47 |
9 |
0.87 |
|
1300S |
KBRC9-16 |
57 |
62 |
5 |
1.07 |
96 meters* |
1300S |
KBRC9-16 |
70 |
73 |
3 |
2.58 |
|
1300S |
KBRC9-16 |
92 |
95 |
3 |
0.50 |
|
1300S |
KBRC9-17 |
8 |
11 |
3 |
1.05 |
111 meters* |
1300S |
KBRC9-17 |
32 |
35 |
3 |
0.47 |
|
1300S |
KBRC9-17 |
103 |
111 |
8 |
6.13 |
Ends In Mineralization |
1100S |
KBRC9-18 |
2 |
7 |
5 |
1.75 |
|
1100S |
KBRC9-18 |
17 |
20 |
3 |
0.59 |
120 meters* |
1100S |
KBRC9-19 |
17 |
20 |
3 |
0.38 |
|
1100S |
KBRC9-19 |
35 |
38 |
3 |
1.61 |
120 meters* |
1100S |
KBRC9-19 |
93 |
102 |
9 |
1.68 |
|
1100S |
KBRC9-19 |
113 |
116 |
3 |
0.72 |
|
1100S |
KBRC9-20 |
0 |
3 |
3 |
0.57 |
|
1100S |
KBRC9-20 |
8 |
16 |
8 |
7.74 |
|
1100S |
KBRC9-20 |
46 |
51 |
5 |
0.29 |
120 meters* |
1100S |
KBRC9-20 |
59 |
62 |
3 |
0.99 |
|
1100S |
KBRC9-20 |
87 |
108 |
21 |
4.89 |
Ends In Mineralization |
1100S |
includes |
91 |
92 |
1 |
77.99 |
|
1100S |
KBRC9-21 |
13 |
17 |
4 |
0.64 |
|
1100S |
KBRC9-21 |
49 |
54 |
5 |
0.81 |
|
1100S |
KBRC9-21 |
60 |
86 |
26 |
0.88 |
120 meters* |
1100S |
KBRC9-21 |
93 |
99 |
6 |
0.85 |
|
1100S |
KBRC9-21 |
105 |
108 |
3 |
0.34 |
|
1100S |
KBRC9-21 |
111 |
120 |
9 |
0.57 |
Ends In Mineralization |
* represents length down the hole - all holes drilled at -55� | NOTES: 1) True width is unknown at this time. 2) Intersections are based on a 0.3 g/t gold cut-off with maximum internal dilution of 5m for the lower grade mineralization envelope 3) The intersections listed in the table represent sections of at least 3m. 4) The RC portions of the drill holes were sampled at 1-m intervals. The cored portion of the drill holes were sampled at one metre intervals and cut in half using a Diamond saw. Half-core is archived at the core storage facility on site while the other half was sent to the laboratory. 5) Analytical procedure was Leachwell with the incorporation of duplicates and standards as part of QA/QC. Analysis was performed at ALS Chemex at Ouagadougou, Burkina Faso.
All drill holes were concentrated in the upper oxide profile (saprolite) of the Kobada deposit and ranged in length from 64 meters to a maximum length of 120 meters down the hole.
Please activate the link to view a map illustrating the drill collar locations on section within "Zone 1" of the Kobada gold deposit, as well as, the step-out holes north of "Zone 1". http://www.africangoldgroup.com/i/pdf/draft figure_v3.pdf
The main objectives of the drill program were:
- To confirm the overall historical grade and continuity of the saprolite zone of the deposit, which averages approximately 75 vertical meters in depth, from surface. As stated above, 9 RC holes on 100 meter sections (2600S, 2500S, 2400S, 2300S, 2200S, 2100S, 1900S, 1800S, 1700S) and 2 DD holes (2000S and 1600S) tested the saprolite zone, within "Zone 1".
- To test the effect of a bigger sample support (RC vs DD) and of a larger aliquot (2kg vs 50g) during assaying.
- Step-out drilling beyond the 2008 northern limit of the "Zone 1" deposit on sections 1500S, 1400S, 1300S and 1100S to test for the potential extensions of Au mineralization along strike to the north.
- To conduct metallurgical test work by testing the saprolite generated from RC drilling in "Zone 1" of the deposit by gravity, including crushing, with or without milling. A total of 127 samples with a cumulative weight of 280 kg were shipped to Canada for evaluation.
OBSERVATIONS
- Based on the results of this program it can be stated that using a bigger sample support(s) and aliquot(s) indicates the potential to increase overall grade and/or in situ gold content, at Kobada, in the saprolite (or oxide zone) by up to 39% with samples that contain high assays uncut. Samples containing high assay values that are cut back to 10 g/t Au continue to demonstrate an increase in overall grade and/or in situ gold content of approximately 11%.
- Step-out drilling beyond the northern region of Zone 1 showed that the mineralization intersected on Line 1200S in the 2008 RC drilling extend to Lines 1300S and 1100s adding a potential 200m strike length to the Zone 1 strike length of 1200m. (Please activate the link to view the RC drill results for Line 1200S - http://www.africangoldgroup.com/s/NewsReleases.asp?ReportID=295403.
- Gravity and cyanide leach testing were initiated on some 280 kg of RC drill chips and core rejects. Early results indicates that both processing routes give good gold recovery. The final metallurgical test report detailing gold characterization and deportment tests is still pending and will be reported separately, upon receipt.
CONCLUSION
At this juncture management remains committed to the continuing development of its Kobada gold project, located in Mali, West Africa. Presently, drilling continues at Kobada and additional drill results are anticipated and will be reported in due course. Furthermore, the airborne survey of the entire Kobada gold project, comprising 216 sq kms and consisting of 4,700 linear kilometers flown on 50 meter line spacing at an altitude of 30 meters is complete. Final interpretation of the geophysical survey is anticipated within the next 30 days and is anticipated to generate a substantial increase in structural drill targets.
Third party due diligence remains ongoing and continues at Kobada at this point in time and management continues to express its interest in assessing all practical avenues to enhancing shareholder value through the continued development of its Kobada, Mali gold project.
Under the guidelines of National Instrument 43-101, the qualified person for the Kobada Gold Project is Mr. Pierre Lalande, P. Geo. Mr. Lalande is a member of the Association of Professional Geoscientists of Ontario and has reviewed and approved the contents of this news release.
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 |
|
| |
ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact 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, € 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. |
Financings of African Gold Group Inc. |
Option Grants of African Gold Group Inc. |
Project news of African Gold Group Inc. |
 |
Corporate news of African Gold Group Inc. |
1/6/2016 | African Gold Group, Inc. Announces Sale of Ghanian Assets fo... |
10/28/2015 | African Gold Group, Inc. Announces Metalurgical Test Work Co... |
9/3/2015 | African Gold Group Announces Closing of Private Placement |
8/5/2015 | African Gold Group, Inc. Announces Grant of Kobada Mining Li... |
7/8/2015 | African Gold Group, Inc. Announces Election of Mr. Georges C... |
2/6/2015 | African Gold Group to Participate in "Doing Business in Mali... |
1/22/2015 | African Gold Group Closes Second Non-Brokered Private Placem... |
1/14/2015 | African Gold Group Closes Non-Brokered Private Placement for... |
12/23/2014 | African Gold Group, Inc. Announces Filing of Preliminary Eco... |
11/25/2014 | African Gold Group, Inc.: Updated Preliminary Economic Asses... |
10/29/2014 | Kobada Metallurgy Test Work Confirms 85.2% Gold Recovery for... |
10/28/2014 | African Gold Group Unaware of Any Material Change |
9/4/2014 | AGG Appoints David Brown as Company Chairman |
7/29/2014 | African Gold Group Updates on Kobada Feasibility Study |
7/23/2014 | African Gold Group Inc. Completes 2014 Kobada Field Season-B... |
7/17/2014 | African Gold Group, Inc., Appoints Misha Collins Feasibility... |
7/9/2014 | African Gold Group, Inc., Kobada Feasibility Study Work to M... |
6/19/2014 | African Gold Group, Inc.: Bulk Sampling Results Identifies S... |
5/22/2014 | African Gold Group Closes Over-Subscribed Non-Brokered Priva... |
4/29/2014 | African Gold Group Strengthens Mine Development Team With th... |
3/25/2014 | African Gold Group, Inc. Announces Early Warrant Exercise In... |
10/22/2013 | (Kobada), Engineering Team Mobilizes to Commence Metallurgical Test ... |
7/8/2013 | Annual and Special Shareholder Meeting |
6/20/2013 | letter Press Release June 18 2013 |
6/18/2013 | (Kobada)Updated Resources Estimate for Kobada Gold Project Surges to... |
5/29/2013 | KBRC12-160 Intercepts 75 Meters of 3.06 g/t Au; KBRC12-201 I... |
5/29/2013 | KBRC12-160 Intercepts 75 Meters of 3.06 g/t Au; KBRC12-201 I... |
5/15/2013 | KBRC12-084 Intercepts 69 Meters of 2.37 g/t Au; KBRC12-066 I... |
5/8/2013 | Feasibility Study Drilling on 25 Meter Centers Pushes Au Min... |
3/25/2013 | IGE Resources calls for Extra General Meeting, related to th... |
2/5/2013 | (Mankranho)Completes Sale of Mankranho, Ghana Concession for US$4,000,0... |
11/5/2012 | Pope & Company Initiates Equity Research Coverage on African... |
10/10/2012 | (Mankranho)Announces Sale of Mankranho, Ghana Concession for US$4,000,0... |
5/1/2012 | May 01/2012 |
3/29/2012 | March 29/2012 |
3/20/2012 | March 20/2012 |
11/29/2011 | Nov 30/11 |
10/26/2011 | Featured In The Financial Post, |
10/25/2011 | Oct 25/11 |
9/14/2011 | Sept 14/11 |
8/25/2011 | Featured In The Financial Post, Mining News |
7/13/2011 | July 13/11 |
7/13/2011 | Positive Preliminary Economic Assessment Generates $216.9 Mi... |
6/1/2011 | June 01/11 |
6/1/2011 | Southern Step Out Hole Intercepts 96 Meters of 1.35 g/t Au f... |
4/5/2011 | April 05/11 |
3/29/2011 | March 29/11 |
3/22/2011 | March 22/ 11 |
3/22/2011 | 67 RC Drill Holes Shipped to Lab; 3,980 m of Trench Results ... |
3/16/2011 | Re-Adopts Shareholder Rights Plan |
4/29/2008 | included in The Gold Newsletter, April 2008 Edition |
4/16/2008 | Trenching Returns 84 Meters Of 3.0 G Au/T, Including 36 Mete... |
2/25/2008 | Retains AGORACOM To Provide Google Search Engine IR Program... |
|
|