Gold: $1750/oz
TSX-V: AGG
Last Price: 0.14
       

Press Releases

September 14, 2021, Toronto, Ontario – African Gold Group, Inc. (TSX-V: AGG, OTC: AGGFF, FRA: 3A61) (“AGG” or the “Company”) is pleased to announce positive results from the preliminary trenching programme in the Kobada Est exploration target. The Kobada Est trenching programme was completed in June 2021 and consisted of three trenches with a combined length of 260 m.

The Kobada Est is a part of a group of permits located on the western flank of the Bougouni basin covering an area of 63,679 acres. The shear zones discovered in the Kobada Est concession form a part of the combined 55 km shear strikes, identified across the three concessions from previous geophysics and soil geochemistry.

Highlights:

Danny Callow, CEO of African Gold Group, commented:

“We are pleased to see such impressive results as part of our regional exploration programme within our Kobada Est exploration concession area. This is the first time we have followed up prior programmes with trenching to determine possible gold mineralisation, and the results are very pleasing. From this trenching it`s clear that a drilling programme should be designed to determine the continuity of the mineralisation identified in the trenching. Kobada Est is part of our overall strike system of 55 km identified within our mining permit (Kobada) and Faraba and Kobada Est exploration concessions. These results further reinforce our thesis that the exploration upside within our permits is significant, and we look forwards to taking Kobada Est to the next stage of exploration.“

Figure 1: Identified Shear Zones Across the Property

Kobada Est Trenching Campaign

The 2021 Kobada Est preliminary trenching campaign was completed in June 2021 with the aim of confirming mineralisation and mapping structures that could confirm the potential of the Kobada Est target area. The preliminary trenches were excavated around the artisanal mining, in the vicinity of the predicted shear zone, which have also been beneficial in surficial sampling and structure mapping.

The three trenches, which total 260 m, were excavated in or just east of the delineated Kobada Est shear zone as defined by the recent reinterpretation of the previous geophysics. Two of the three trenches intersected mineralisation in varying degrees. Trench No 3 located in the Kobada Est shear zone had the best mineralisation. The trench was 30 m in length of which 22 m was mineralised. The grade over the mineralised width was 1.4 g/t over 16 m or 1.1 g/t over 22 m. Trench No 2, located just east of the shear, was also mineralised but the mineralisation zone was narrow and associated with single veins. The trenches were sighted based on artisanal mining pits, geophysics and soil geochemical anomalies.

Table 1: Details of the Three Trenches

Figure 2: Location of the Three Preliminary Trenches Within and East of the Kobada Est Shear

Figure 3: Plan View of the Mineralisation Within Trench No 3 Within the Kobada Est Shear

Figure 4: Plan View of Mineralisation Within Trench No 1 and Trench No 2 East of the Kobada Est Shear

Figure 5: Trench Photos

Artisanal Mining

Active artisanal mining pits have been mapped and sampled within and in close proximity of the Kobada Est shear zone which has been beneficial in opening mineralised zones and structures. The structures mapped in the artisanal pits and trenches have highlighted similarities to what has been observed in the Kobada Main shear zone with some highly mineralised veins. The grab samples were taken in pit 1 and pit 2 range from trace to 29.7 g/t. The structures are oriented predominantly in an NNE / SSW and E / W direction as is expected and is consistent with the Kobada Main shear zone and with this type of dextral Riedel shear mineralisation.

Figure 6: Structures and Mineralisation Observed in Pit No 1

Figure 7: Structures and Mineralisation Observed in Pit No 2

The preliminary trenching work has delivered impressive results for the mineralisation potential of the Kobada Est shear zone and will be followed up with additional trenching and drilling to test the target area in more detail.

Qualified Person

The technical and scientific information in this press release has been reviewed and approved by Uwe Engelmann, BSc (Zoo. & Bot.), BSc Hons (Geol.), Pr.Sci.Nat. No. 400058/08, MGSSA, a director of Minxcon (Pty) Ltd. with respect to mineral resources, who is a Qualified Person as defined by National Instrument 43-101.

About African Gold Group

African Gold Group is a TSX Venture Exchange (TSX-V: AGG) listed exploration and development company with a focus on building Africa’s next mid-tier gold producer. The Company has a highly experienced board and management team with a proven track record in the African mining sector operating mines from development through to production. AGG’s principal asset is the Kobada Project in southern Mali, which is in an advanced stage of development having completed the NI 43-101 technical report of the Company titled “NI 43-101 Technical Report on Kobada Gold Project in Mali” with an effective date of June 17, 2020and is targeting gold production of 100,000 oz per annum. As well as the initial Kobada Gold Project, other exploration locations have been identified on the Kobada, Faraba and Kobada Est concessions, offering potential for an increase in resource. For more information regarding African Gold Group visit our website at www.africangoldgroup.com.

For more information:

Danny Callow

 

President and Chief Executive Officer

+ (27) 76 411 3803

Danny.Callow@africangoldgroup.com

Daniyal Baizak

 

Vice President, Corporate Development

+1 (647) 835 9617

Daniyal.Baizak@africangoldgroup.com

   
Scott Eldridge

 

Non-Executive Chairman of the Board

+1 (604) 722 5381

Scott.Eldridge@africangoldgroup.com

Camarco (Financial PR)

 

Gordon Poole / Nick Hennis

+44 (0) 20 3757 4997

AfricanGoldGroup@camarco.co.uk

   

Cautionary statements

This press release contains “forward‑looking information” within the meaning of applicable Canadian securities legislation. Forward‑looking information includes, but is not limited to, statements regarding, the exploration plans of the Company. Generally, forward‑looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”.  Forward‑looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of AGG to be materially different from those expressed or implied by such forward‑looking information, including but not limited to: upcoming exploration campaigns at the Project, any upside potential, general business, economic, competitive, political and social uncertainties; future prices of mineral prices; accidents, labour disputes and shortages and other risks of the mining industry. Although AGG has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward‑looking information. AGG does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

 

Subscribe to our Newsletter