AFRICAN GOLD GROUP
African Gold Group is a Canadian listed exploration and development company on the TSX Venture Exchange (TSX V: AGG) with its focus on developing a gold platform in West Africa.
African Gold Group is focused on the development of the Kobada Gold Project in Mali, a low capital and low operating cost gold project with the potential to produce more than 50,000 ounces of gold per annum for greater than 10 years of mine life. The Kobada Project is an advanced gold project located approximately 125 km south-west of Bamako, the capital city of Mali.
Kobada is a near-surface gold project that has a global resource base of over 2.2 Moz of gold. Previous operators completed 1,118 holes and 127,455 m of drilling on the property and completed 3 economic studies, the last one being a feasibility study released in February 2016.
In 2019, the new management of the project has embarked on a process to deliver a Definitive Feasibility Study (“DFS”) by Q2 2020 with the aim of upgrading its geological model and understanding of the ore body. A new definitive feasibility study will incorporate the results of an additional expected 12,000 m of diamond drilling and 3,000 m of RC in-fill drilling to gain a better geological understanding of the main shear zone and additional highly prospective exploratory targets. In addition, the Company is carrying out extensive detailed metallurgical test work on representative samples to optimize the processing plant in terms of gold recoveries, capital expenditure and operating costs.
In addition, African Gold Group is also focused on advancing its second project currently under option towards a maiden resource, the Madougou Gold Project in Burkina Faso. The Madougou Gold Project is a mid-stage exploration project, located in the north-western region of Burkina Faso. The project has been extensively explored, with both ground and airborne geophysical surveys conducted, and over 20,000 m of RC drilling completed on the 182 km2 land package. Madougou is contained in a regional mineralized area of the greenstone belt within Burkina Faso, with several gold producing operations in the immediate area. AGG views the Madougou Project as a highly strategic asset, with tremendous potential to add significant value to the Company.
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