African Gold Group Inc.

Published : March 06th, 2008

Randgold Resources Reports Rab Drilling Is Underway At Bagoe Concessions

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Keywords :   Canada | Ghana | Gold | K Street | Mali |


  Thursday, March 06, 2008
African Gold Group, Inc. Randgold Resources Reports Rab Drilling Is Underway At Bagoe Concessions

  TORONTO, CANADA, MARCH 06, 2008 - African Gold Group, Inc., ("AGG" or the "Company") is pleased to report that Randgold Resources advises it has commenced a RAB drill program at the Company's Bagoe concessions, held in joint venture with AGG.

The Bagoe Joint Venture between AGG and Randgold Resources was announced in a press release dated November 15, 2007. Exploration work over the two concessions started December 19th, 2007, with a broad reconnaissance mapping program including some pitting and soil geochemistry over areas of interest. The aim of this initial project was to gain a general understanding of the geological and structural setting of the permits, to produce some base maps with which to work with and to formulate models which will be tested by further exploration work during 2008. A camp has been established in the village of Tienkoungoba which is situated on the main Bougouni-Sikasso road and is 1km west of the Baoule River bridge.

To view a regional map detailing the location of the Bagoe concessions please click the link: http://www.africangoldgroup.com/i/maps/kobada-location-map.gif

AGG's Bagoe East and West permits are located in the Morila region and are characterized by the presence of the world class deposit Morila mine (6Moz). Three geological settings were identified in the region: the Kekoro Formation in the west, the Morila Formation in the center plus the Banifin shear and the Madinani Formation to the east.

AGG submits the following verbatim excerpt from Randgold's December 31, 2007 quarterly report:

"In Mali South, work has focused on the reconnaissance of the Bagoe East and Bagoe West permits held in joint venture with African Gold Group (AGG). These permits cover prospective Morila-type settings along the Banifin shear zone in close proximity to the Morila deposit. Preparations are underway to complete RAB drilling programmes over gold in soil geochemical anomalies within the permit."

A link to the Randgold Resources quarterly report is provided for reader convenience.
http://www.randgoldresources.com/randgold/action/media/downloadFile?media_fileid=558

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 : Canada | Ghana | Mali | All
Gold and Silver Prices for these countries : 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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