African Gold Group Inc.

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

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Keywords :   Burkina Faso | Canada | Diamond | Ghana | Gold | K Street | Mali | Recovery | Storage |


  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:
  1. 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".
  2. To test the effect of a bigger sample support (RC vs DD) and of a larger aliquot (2kg vs 50g) during assaying.
  3. 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.
  4. 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.
 


 
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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