African Gold Group Inc.

Published : April 08th, 2010

To Commence Airborne Survey Of Asankrangwa Holdings -- Contiguous And On Strike With Keegan's Esaase

( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  
Keywords :   Canada | Diamond | Ghana | Gold | Gold Mines | K Street | Mali | South Africa |

  Thursday, April 08, 2010
African Gold Group, Inc., To Commence Airborne Survey Of Asankrangwa Holdings -- Contiguous And On Strike With Keegan's Esaase Deposit

TORONTO, CANADA, April 08, 2010 - African Gold Group, Inc., ("AGG" or the "Company") is pleased to report that it has entered into a contractual agreement with New Resolution Geophysics ("NRG") of South Africa to conduct an airborne magnetic and radiometric survey of AGG's 456 sq km Asankrangwa Holdings, located on strike and contiguous with Keegan Resource's Esaase gold deposit.

In addition, AGG has also contracted NRG to fly an airborne survey of the Company's 20 sq km Nyankumasi concession, located approximately 30 km south-southwest of Newmont Mining's 6.3 million ounce Akyem project.

The two distinct projects will consist of high resolution helicopter borne magnetic and radiometric surveys. A total of approximately 11,000 line kilometers will be flown with an AS350 helicopter which will utilize a horizontal boom mounting to separate magnetic sensors that will allow for measurement of the horizontal gradient of the magnetic field. Incorporating the magnetic gradient in gridding algorithms provides significant improvement in delineating line parallel features, spatial positioning of off-line anomalies and overall resolution of the magnetic data. The AS350 platform will be flown at low survey heights of not greater than 30 vertical meters from surface. Magnetic and radiometric data will benefit significantly from the lower survey height. Full spectral processing of all collected data will be an integral part of the exercise.

The objective of the program will be to identify structural targets, on a regional scale, that will be followed up with regional geochemistry, ultimately culminating in the identification of drill targets.

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 activate the link to view a regional map that depicts AGG's Asankrangwa Holdings and proximity to Keegan's Esaase gold deposit.

AGG has retained Paterson, Grant & Watson Limited ("PGW"), headquartered in Toronto, Canada, as project manager of the airborne geophysical survey. PGW has been furnishing technical excellence in the planning, supervision, processing and interpretation of a wide variety of geophysical surveys, since 1973.

Historical Regional Work -- Pre-Dating AGG Ownership

The area encompassing the northern Asankrangwa gold belt has a significant history of exploration as well as gold mining. Historical activity within close proximity to AGG's (456.2 sq km) 5 contiguous concessions is summarized below (please refer to the above regional map link for a regional perspective):
  • Immediately to the west and draining from the contiguous Assuowunu concession, Bonte Gold Mines produced approximately 500,000 ounces of alluvial gold, (from the Esaase and Jennie concessions), between 1992 to 2002.

  • The Esaase concession is now controlled by Keegan Resources. Keegan just reported a positive preliminary economic assessment for the Esaase Deposit detailing an Indicated Mineral Resource of 2.28 million ounces of gold (58.0 million tonnes grading 1.2 g/t gold at a cut-off grade of 0.4 g/t) and Inferred Mineral Resource of 1.65 million ounces of gold (41.7 million tonnes grading 1.2 g/t gold at the same cut-off grade).

  • Immediately to the south of AGG's Manso Nkwanta concession, Resolute Resources mined approximately 30 million tonnes of ore grading 2.0 g/t Au from a number of pits at Nkran Hill, Adubiaso, Akwasiso and Abore.

  • To the immediate north of AGG's holdings, at Mpesetia, AngloGold Ashanti produced approximately 100,000 ounces of gold from open pit operations.

  • All of the above sources of gold are believed to be structurally controlled and these structures are known to extend onto AGG's holdings.

  • Previous operators, in the mid to late 1990's, carried out extensive preliminary exploration by way of regional geochemistry and geology, geophysics and trenching, producing a number of, as yet untested anomalies.
AGG Historical Work Program Highlights: 2004 -- 2008
  • In a press release dated November 22, 2004 AGG announced Trench results at its centrally located Moseaso concession where intercepts measuring 32 Metres of 1.79 g/t Au & 31 Metres of 2.02 g/t Gold were reported. (see regional map for perspective):

  • In a press release dated January 20, 2005 AGG reported results from a 2,155 meter Diamond drill program that comprised 12 holes drilled from 6 pads over 380 meters of strike length, at Moseaso. Drill highlights included:
           Interval (m)
Hole      From             To            Length    Gold              
MA04-01   9.45          23.80             14.35    0.96
and 	 71.50          76.00              4.50    2.62

MA04-02   4.88          10.97              6.09    1.19
and	 23.17          27.74              4.57    2.40

MA04-05  63.65         115.10             51.45    0.74
incl	102.00         109.10              7.10    2.20

MA04-08  77.00          86.50              9.50    1.18
and	 97.50         110.85             13.35    2.16

MA04-11 101.50         106.00              4.50    4.12
  • On April 17, 2007 AGG announced that the Company's surface exploration program at its Assuowunu concession has identified three main gold-in-soil anomalies that trend into the contiguous Esaase concession, controlled by Keegan Resources Inc. (Please activate the link to the map that depicts the surveyed region.)

  • On October 25, 2007 AGG announced the acquisition of the coveted Manso Atwere concession. The 7.2 sq km Manso Atwere concession represents the southern extent of AGG's Asankrangwa footprint. This region is the subject of extensive ongoing artisanal mining activities. Local miners have excavated a pit that now measures in excess of 200 meters in length, 30-40 meters in width and 30-35 meters in depth. Please activate the link to view a photo of the artisanal pit.

  • On November 07, 2007 AGG announced the assay results from 52 channel samples that spanned 104 meters of an exposed footwall within an excavated artisanal pit at its Manso Atwere concession. Samples taken from this exercise were prepared and analyzed by SGS Laboratory located at Bibiani, Ghana. Channel sample results are depicted in Table 1 below:
          Interval with            Grade (g/t)Au and
Anomaly   sample numbers           width of mineralization
   1      J1001-J1004 ( 0 - 8m)    1.14 g/t over 8m
   2      J1016-J1027 (30 - 52m)   2.36 g/t over 22m
   3      J1047-J1052 (88 - 100m)  2.73 g/t over 12m
  • In addition, (at Manso Atwere), two grab samples were collected from the artisanal miner's stock pile of ore, that was ready to be crushed and washed that returned assay values of 10.2 g/t Au for sample J1059 and 20.9 g/t Au for sample J1060. (see link to attached photo depicting stockpile, crusher and sluice:

  • On April 16, 2008 - African Gold Group, Inc., reported assay results for five trenches, located within the immediate proximity of the excavated artisanal mining pit at AGG's Manso Atwere concession. The five trenches total 1,628 meters in aggregate length and average 3 meters in depth. All trenches were sampled on two meter spacing.

  • Trench highlight: GYTR02 assayed 84 metes at 3.00 g/t Au., including 36 meters at 6.28 g/t Au.

  • Reconnaissance Diamond drilling (2008) highlights included:

    Manso Atwere: 18 meters grading 1.65 g/t Au

    Including: 9 meters grading 3.52 g/t Au

    Assuowunu: 7 meters grading 2.34 g/t Au

"There is a growing conviction amongst AGG's team that our 456.2 sq km Asankrangwa Holdings represents significant potential for our Company and our shareholders. We hold the dominant land position in the region and are bordered by historical sites of production to the north, south and west of our footprint. Current exploration and development by Keegan and others continues to demonstrate the growing importance of the region," states AGG President, Michael A. Nikiforuk.

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 and on 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

African Gold Group, Inc.
Michael A. J. Nikiforuk
(416) 572-2225
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 | South Africa | All
Gold and Silver Prices for these countries : Canada | Ghana | Mali | South Africa | All

African Gold Group Inc.

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
Projects & res.
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, € 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.

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 $216.9 Mi...
6/1/2011June 01/11
6/1/2011Southern Step Out Hole Intercepts 96 Meters of 1.35 g/t Au f...
4/5/2011April 05/11
3/29/2011March 29/11
3/22/2011March 22/ 11
3/22/201167 RC Drill Holes Shipped to Lab; 3,980 m of Trench Results ...
3/16/2011Re-Adopts Shareholder Rights Plan
4/29/2008 included in The Gold Newsletter, April 2008 Edition
4/16/2008Trenching Returns 84 Meters Of 3.0 G Au/T, Including 36 Mete...
2/25/2008 Retains AGORACOM To Provide Google Search Engine IR Program...
Comments closed
Latest comment posted for this article
Be the first to comment
Add your comment
CA$ 0.150
08/03 10:30 -
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
Explores for Gold
Interactive chart Add to compare
Print Compare Export
Last updated on : 3/25/2010
You must be logged in to use the porfolio and watchlists (free)
Top Newsreleases
Annual variation
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 :
announces expected non-cash impairment
AU$ 7.62-0.13%Trend Power :
Oceana Gold(Au)OGC.AX
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
US$ 7.27-0.68%Trend Power :
Rentech Announces Results for Second Quarter 2017
US$ 0.20-12.28%Trend Power :
Reduced Funding Requirement
GBX 0.67+6.35%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
CA$ 0.06+30.00%Trend Power :
Closes Bridge Loan Financing
CA$ 2.13-0.47%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$ 9.41-3.59%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
CA$ 0.22+0.00%Trend Power :
Q A April 2017 Quarterly Report
AU$ 0.24-2.04%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$ 1.44-4.64%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
US$ 46.69-0.13%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
CA$ 8.66-0.35%Trend Power :
2nd Quarter Report
AU$ 0.02+0.00%Trend Power :