| | |
| | |
| | |
| |    "Love Thy Neighbor - Take 2"
The Nyankumasi concession is located 30 km south-southwest of Newmont Mining's 5.4 million ounce Akyem project (slated for production in 2008, following the construction of a US$550 million processing plant), and approximately 48 km east of AngloGold Ashanti's Obuasi mine. Three significant gold-in-soil anomalies, known as the "Linear", "Central" and "Northern" anomalies have been identified at Nyankumasi. The Phase I diamond drill campaign focused on testing the southern most "Linear Anomaly", where a recently completed geo-chemical survey identified a gold-in-soil mineralized strike length measuring approximately 4 km in length (see attached map). Our 2006 exploration program was intended to evaluate the resource potential of the entire Nyankumasi concession and it included a RC and diamond drill program. The results are shown in the table below:
The primary focus of AGG drilling was the main gold geochemical anomaly and secondly, the copper gold anomaly along the same structure further to the east. The single hole drill sites are at least 300 meters apart along the three kilometers tested. This demonstrates the wide spaced nature of our first pass at this zone. All holes intersected a broad zone of sheared Birimian volcanics in contact with Tarkwain sediments. This faulted contact is consistently mineralized with pyrite, pyrrhotite and chalcopyrite and variably enriched in copper, zinc, gold and silver, truly a unique situation in the history of Ghanaian exploration and it remains wide open in all directions. The exploration results are listed below in the order that we received them. Click on the respective title to view each press release in its entirety: November 10, 2006 African Gold Group, Inc.: Reconnaissance Drill Program Intercepts High Grade Gold Over 3 Km of Strike at Nyankumasi, Ghana The results from AGG's Phase I diamond drill program are shown in Table 1 below. All samples from this portion of AGG's September, 2006, drill program were analyzed by Eco-Tech Laboratory of Kamloops, Canada. TABLE 1 RESULTS FROM AGG'S 2006 DIAMOND DRILL CAMPAIGN SIGNIFICANT GOLD INTERSECTIONS
--------------------------------------------------
Interval (m)
------------------------ Gold
SECTION Hole From To Length (g/t)
--------------------------------------------------
15000 NK06-01 48.20 75.45 27.25 0.19
84.00 96.00 12.00 0.40
incl. 84.00 85.00 1.00 0.92
--------------------------------------------------
15300 NK06-02 83.00 132.00 49.00 0.49
incl. 109.00 110.00 1.00 12.90
--------------------------------------------------
15800 NK06-03 80.76 95.00 14.24 0.19
100.00 113.50 13.50 0.13
126.00 127.00 1.00 7.14
--------------------------------------------------
14300 NK06-04 116.00 127.00 11.00 0.24
178.50 180.00 1.50 0.82
--------------------------------------------------
14600 NK06-05 100.50 107.50 7.00 0.26
--------------------------------------------------
17200 NK06-06 74.50 101.50 27.00 0.27
incl. 100.00 101.50 1.50 1.38
127.00 128.00 1.00 1.13
--------------------------------------------------
17600 NK06-07 57.00 70.50 13.50 2.06
incl. 61.50 63.00 1.50 17.40
75.00 78.00 3.00 7.78
incl. 76.50 78.00 1.50 14.70
90.00 106.50 16.50 0.23
incl. 169.40 171.00 1.60 1.08
--------------------------------------------------
In addition to the significant gold intersections, the Phase I diamond drill campaign identified significant base metal and silver occurrences, which are illustrated in Table 2 below.
SIGNIFICANT BASE METAL & SILVER INTERSECTIONS
--------------------------------------------------------------------
Interval (m)
------------------------ Copper Zinc Silver
SECTION Hole From To Length (ppm) (ppm) (g/t)
--------------------------------------------------------------------
14600 NK06-05 213.00 223.00 10.00 1530
incl. 221.00 222.00 1.00 6507 5.7
--------------------------------------------------------------------
17200 NK06-06 74.50 94.00 19.50 1369
147.50 148.50 1.00 2426
--------------------------------------------------------------------
17600 NK06-07 90.00 106.50 16.50 1681
135.50 147.50 12.00 2183
incl. 139.50 141.00 1.50 6137 2.1
--------------------------------------------------------------------
"Nyankumasi has produced results that have not previously been seen in Ghana. We are dealing with a very large precious and base metals enriched structure that is 10s of meters wide and at least 3.0 kilometres in strike length. Both high grade and low grade gold values have been demonstrated in bedrock. DDH 7 was a very interesting surprise, the last hole drilled and collared furthest to the east, producing the best copper results of up to 0.66 % and gold intercepts of 17.4 g/t and 14.7 g/t over 1.50 metres each in a broader zone of enrichment of greater than 50.0 metres. The primary focus of our drilling was the main gold geochemical anomaly and secondly, the copper gold anomaly along the same structure further to the east. The single hole drill sites are at least 300 metres apart along the three kilometres tested. This demonstrates the wide spaced nature of our first pass at this zone. All holes intersected a broad zone of sheared Birimian volcanics in contact with Tarkwain sediments. This faulted contact is consistently mineralized with pyrite, pyrrhotite and chalcopyrite and variably enriched in copper, zinc, gold and silver, truly a unique situation in the history of Ghanaian exploration and it remains wide open in all directions. We are very keen to get back to the task of defining a gold resource at Nyankumasi", stated Director, Greg Hawkins. August 09, 2006 African Gold Group, Inc: 2,000 Metre Diamond Drill Program Commences at Nyankumasi, Ghana To date, three significant gold-in-soil anomalies have been identified within the concession. Historical exploration included a total of 72 RC drill holes that indicate several promising zones of gold mineralization. Significant historical drill intercepts include:
AGG's current exploration program has focused on the southern "Linear Anomaly" of the concession and has consisted of grid establishment, soil sampling, trenching, ground magnetic and IP surveys. This work confirms the southern "Linear Anomaly" to be continuous along the entire 4 km strike length and forms the basis for establishing the drill targets related to this 2,000 metre diamond drill program (see map).
Trench Summary and Significant Results, Horizontal Channel Samples
---------------------------------------------------------------------
Interval (m) Au (g/t) Min Au (g/t) Max Au (g/t)
Trench ----------------------
From To Length
---------------------------------------------------------------------
NK-T1 Ext 0 8 8 0.49 0.14 1.60
incl 5 6 1 1.60
---------------------------------------------------------------------
NK_T1 0 85 85 0.27 0.11 1.71
incl 31 56 25 0.49
or 48 52 4 1.21
---------------------------------------------------------------------
NK_T2 0 55 55 0.24
incl 11 12 1 0.44
incl 16 17 1 0.64
incl 30 55 25 0.32
---------------------------------------------------------------------
NK_T3 0 42 42 0.28 0.08 0.97
incl 4 6 2 0.42
incl 12 21 9 0.51
incl 39 41 2 0.45
---------------------------------------------------------------------
NK_T4 No Significant Intercept
---------------------------------------------------------------------
November 04, 2004 African Gold Group Options The Nyankumasi Gold Concession The Nyankumasi concession covers approximately 71 sq. kilometers and is situated in the northeastern section of the Ashanti gold belt, approximately 48 kilometers east of AngloGold Ashanti's Obuasi mine and approximately 30 kilometers south-southwest of Newmont Mining Corporation's Akyem Project. The property has been the subject of a reconnaissance alluvial program, stream and outcrop sampling, geological mapping, sampling of historical workings, survey grid work, pitting, trenching and RC drilling. A complete analysis of all historic drill hole information is pending. Results of interest from a cursory review of the historic drill data include: Southern Anomaly:
Central Anomaly:
| | 
| | |||||||||||||||||||||||||||||||||||||||||||||||||
| |  | |
)
)