African Gold Group Inc.

Published : April 16th, 2008

Trenching Returns 84 Meters Of 3.0 G Au/T, Including 36 Meters Of 6.28 G Au

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  Wednesday, April 16, 2008
African Gold Group, Inc. Trenching Returns 84 Meters Of 3.0 G Au/T, Including 36 Meters Of 6.28 G Au/T & 16 Meters Of 13.6 G Au/T
Diamond Drilling Underway


 
TORONTO, CANADA, APRIL 16, 2008 - African Gold Group, Inc., ("AGG" or the "Company") is pleased to report the assay results for five trenches, located within the immediate proximity of the excavated artisanal mining pit at AGG's Manso Atwere ( Ghana) 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. Diamond drilling is currently underway at AGG's Manso Atwere concession and will shift to AGG's Assuowunu concession, contiguous with Keegan Resource's Esaase concession, within approximately 14 days.

TABLE 1: ASSAY RESULTS FOR TRENCHES (Composites of 2 meter samples)
LOCATION Easting Northing Elevation Length Width Grade (g Au/t)
GYTR01 From: 625510 From: 713256 207 450 m 10 m 0.69
  To: 625893 To: 713055 193 2 m 1.43
        22 m 0.80
GYTR02 From: 625490 From: 713094 210 348 m 2 m 1.30
  To: 625771 To: 712958 222 84 m 3.00
        incl 36 m 6.28
        incl 16 m 13.60
        2 m 2.20
        22 m 0.92
GYTR03 From: 625817 From: 713333 228

250 m

No Significant Results

  To: 625977 To: 713247 230
GYTR04 From: 625584 From: 713111 212 280 m 4 m 31.20
  To: 625834 To: 712963 247 incl 2 m 62.00
        50 m 1.80
        incl 12 m 3.24
        incl 8 m 4.00
        14 m 0.58
GYTR05 From: 625457 From: 712928 259 300 m 30 m 0.58
  To: 626114 To: 740418 241 14 m 4.31
        incl 8 m 7.20


Please activate link to view map showing trench locations, trench intercepts, diamond drill hole collars and their relative location to the artisanal pit.

http://www.africangoldgroup.com/i/maps/Manso-Atwere-map-1.gif

The Company announced its acquisition of the Manso Atwere concession on October 25, 2007. The 7.2 sq km concession represents the fifth distinct contiguous concession that comprises AGG's 456.2 sq km consolidated land holdings in the northern Asankrangwa gold belt. Much of the gold that has contributed to the wealth of the famous Ashanti Kingdom, over centuries, has come from this region (http://www.ashanti.com.au/). More recently, this region has been the subject of extensive conventional mining and includes the recent discovery of Keegan Resource's Esaase gold deposit, which is contiguous with AGG's Assuowunu concession.

The Manso Atwere concession contains an unusually large, recently excavated, open pit that was manually dug by locals with pick and shovel. This pit measures approximately 110 meters in length, approximately 35 meters in width and approximately 35 meters in depth. It is estimated that approximately 300,000 metric tons of ore has been manually moved from the site of the pit, located on a hilltop, approximately 2 km to the valley floor where there is water for processing the ore. On November 07, 2007, AGG reported the assay results from 52 channel samples that spanned 104 meters of the exposed footwall of the pit as follows:
TABLE 1  CHANNEL SAMPLE ANALYSIS
===============================================================
           Interval with               Grade (g Au/t) and
Anomaly    sample numbers              width of mineralization
===============================================================
   1       J1001-J1004 ( 0 -  8m)      1.14 g Au/t over 8m
---------------------------------------------------------------
   2       J1016-J1027 (30 - 52m)      2.36 g Au/t over 22m
---------------------------------------------------------------
   3       J1047-J1052 (88 -100m)      2.73 g Au/t over 12m

In addition, two grab samples that were collected from the artisanal miner's stock pile of ore, that was ready to be crushed and washed, returned assay values of 10.2 g Au/t for sample J1059 and 20.9 g Au/t for sample J1060. Please activate link to view artisanal open pit. http://www.africangoldgroup.com/i/photos/Manso-Atwere-Pit-2.jpg

"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 by Keegan and others continues to demonstrate the growing importance of the region and we applaud their success. Clearly, these trench results represent the most compelling drill targets that AGG has generated in its history. Diamond drilling is currently underway and we remain eager to compare the pending assay results with the internal expectations generated by these drill targets," states AGG President, Michael A. Nikiforuk.

A total of 13 diamond drill holes approximating 2,500 meters, in aggregate, are currently being drilled at Manso Atwere. A bulldozer is currently on site at AGG's Assuowunu concession, contiguous with Keegan's Esaase concession, cutting access roads and drill pads. The diamond drill rig will be moved to Assuowunu in approximately 14 days and commence testing drill targets that are parallel to and contiguous with structures that control mineralization at Keegan's Esaase gold deposit.

SAMPLING AND ANALYSIS

All samples are dried at a temperature of 105oC. The samples are crushed (when necessary) using a jaw crusher to a nominal 2mm then 1.5kg is split using a Jones type riffle splitter. A reject sample is retained in the original bag and stored. The split is finely pulverized in a chrome steel bowl (B2000) to a nominal 90% passing 75um. A 200g sub-sample is taken into a paper craft packet for assay, with the pulverized residue retained in a plastic bag. All preparation equipment is flushed with barren material prior to the commencement of the job and also intermittently in the course of the job. A 50g sample is weighed from the 200g sub-sample, fused with a litharge based flux, cupelled then the prill is dissolved in aqua regia and gold is determined by flame Atomic Absorption Spectrometry (AAS).

Mr. Ben Adoo, C. Eng., AGG Chairman, is the Qualified Person with respect to NI 43-101 at Assankrangwa.

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
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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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