Gold: $1839/oz
TSX-V: AGG
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Press Releases

African Gold Group Continues To Intersect Better Than Expected Gold Grades At Its Kobada Project, Including 1.67 G/T Gold Over 21.6 Metres And 26.50 G/T Gold Over 1.0 Metres

Toronto, Canada – January 14th, 2020 – African Gold Group, Inc. (TSX-V: AGG) (“AGG” or the “Company”) is pleased to report additional significant results from Phase 1 drilling program at Kobada Gold Project. The drill holes are located in the southern section of the main shear zone at AGG’s extensive land package in Southern Mali.

Result continue to return better than expected grades within the central zone of the Kobada main shear and reinforces the predictiveness of our geological model. High-grade intersections over a greater thickness, together with additional resources in the satellite orebodies, is expected to complement the resource model favorably.

Highlights Include (Table 1):

  • Drill hole KP19_P1_20 returned 26.50 g/t Au over 1.0 m
  • Drill hole KP19_P1_21 returned 1.67 g/t Au over 21.60 m, including 11.9 g/t Au over 2.0 m and 7.14 g/t Au over 1.1 m
  • Drill hole KP19_P1_21 returned 4.93 g/t Au over 1.3 m, 2.94 g/t Au over 1.6 m and 2.78 g/t Au over 1.0 m
  • Drill hole KP19_P1_23 returned 1.93 g/t Au over 3.45 m and 2.59 g/t Au over 1.0 m
  • Drill hole KP19_P1_23 returned 5.41 g/t Au over 0.91 m
  • Drill hole KP19_P1_27 returned 4.18 g/t Au over 1.5 m
  • Drill hole KP19_P1_28 returned 6.07 g/t Au over 1.0 m and 4.13 g/t Au over 1.0 m
  • Drill hole KP19_P1_31 returned 2.67 g/t Au over 5.61 m, including 5.25 g/t Au over 2.61 m
  • Drill hole KP19_P1_31 returned 4.79 g/t Au over 2.0 m, 1.34 g/t Au over 4.63 m and 3.76 g/t Au over 1.0 m
  • Drill hole KP19_P1_32 returned 1.13 g/t Au over 5.5 m, including 5.12 g/t Au over 1.1 m

“These are fantastic results which will have a positive effect on the total resource tonnage and grade,” states Dr. Andreas Rompel, Vice President Exploration, “and because these results are in the area of the future open pit, these will also impact the reserve. We are strongly encouraged by these results and are looking forward to Phase 2 drilling campaign in which we envisage to increase the resource base.”

Table 1: Mineralization Zones

    Mineralised Zone Includes
BHID Ore Body From To Composite Length (m) Composite Grade (g/t) From To Includes (m) Includes (g/t)
KB19_P1_20 Main Shear South 156.00 191.90 35.90 0.87 189.00 190.00 1.00 26.50
KB19_P1_21 Main Shear South 14.00 35.60 21.60 1.67 18.00 20.00 2.00 11.90
KB19_P1_21 Main Shear South         22.10 23.20 1.10 7.14
KB19_P1_21 Main Shear South 58.60 129.30 70.70 0.46 86.90 88.50 1.60 2.94
KB19_P1_21 Main Shear South         88.50 89.50 1.00 2.78
KB19_P1_21 Main Shear South         97.50 98.80 1.30 4.93
KB19_P1_21 Main Shear South         104.30 105.50 1.20 1.75
KB19_P1_21 Main Shear South         108.50 109.50 1.00 1.57
KB19_P1_21 Main Shear South         112.40 113.40 1.00 1.20
KB19_P1_21 Main Shear South         123.00 124.50 1.50 1.11
KB19_P1_28 Main Shear South         193.70 194.70 1.00 4.13
KB19_P1_28 Main Shear South 218.64 219.64 1.00 6.07        
KB19_P1_23 Main Shear South 42.00 50.00 8.00 1.01 46.55 50.00 3.45 1.93
KB19_P1_23 Main Shear South 73.00 160.30 87.30 0.43 76.00 77.00 1.00 2.59
KB19_P1_23 Main Shear South         141.05 141.96 0.91 5.41
KB19_P1_27 Main Shear South 27.00 45.00 18.00 0.69 33.50 35.00 1.50 4.18
KB19_P1_29 Main Shear South 40.79 42.00 1.21 0.42        
KB19_P1_32 Main Shear South 50.00 55.50 5.50 1.13 54.40 55.50 1.10 5.12
KB19_P1_24 Main Shear South 0.00 7.00 4.00 0.28 6.00 7.00 1.00 0.56
KB19_P1_31 Main Shear South 123.79 129.40 5.61 2.67 126.79 129.40 2.61 5.25
KB19_P1_31 Main Shear South 134.00 164.79 30.79 0.86 139.00 141.00 2.00 4.79
KB19_P1_31 Main Shear South         142.50 143.60 1.10 1.34
KB19_P1_31 Main Shear South         153.47 158.10 4.63 1.34
KB19_P1_31 Main Shear South 291.72 292.72 1.00 3.76        

Figure 1: Drill hole locations in the southern part of the Kobada Main Shear Zone.

Figure 2: Kobada exploration targets.

Corporate Update

The Company announces that it has accepted the resignation of Sir Samuel Jonah as a member of the board of directors following his appointment as the Non-Executive Chairman of the board of directors of Roscan Gold Corporation. Sir Jonah has been a director of the Company since July 2017 and has provided invaluable advice to the Company over the years.  The Company would like to wish Sir Jonah all the best in his new role with Roscan Gold Corporation.

Qualified Persons

The scientific and technical information contained in this press release has been reviewed, prepared and approved by Dr. Andreas Rompel, PhD, Pr. Sci. Nat. (400274/04), FSAIMM, Vice President Exploration of AGG, who is a “Qualified Person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101“) and by Mr. Uwe Engelmann (BSc (Zoo. & Bot.), BSc Hons (Geol.), (Pr.Sci.Nat. No. 400058/08, MGSSA), a director of Minxcon (Pty) Ltd and a member of the South African Council for Natural Scientific Professions.

About 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. Its principal asset is the Kobada Project in southern Mali. For more information regarding African Gold Group visit our website at www.africangoldgroup.com.

For further information please contact:

Stan Bharti

President and Chief Executive Officer

(416) 861 2267

Forward-Looking 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, management’s, the Company’s development and exploration plans for the Kobada project, expectation of grade and resources at the Kobada gold project, the rate of drilling during the Phase 1 and 2 drilling program at the Kobada gold project, expectation of drill results at the Kobada project, the timeline for the completion of the Phase 1 and Phase 2 drilling program, the definitive feasibility study and the updated resource model, expectations for mineralization and location of extensions at the Kobada gold project and expected mining methods at the Kobada gold project,  and other statements with respect to the future plans or intentions 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”, “aims”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state 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 the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, geopolitical and social uncertainties; the actual results of exploration activities; regulatory risks; risks inherent in foreign operations; and other risks of the mining industry. Although the Company 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. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

NEITHER THE 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.

 

Table 2: Assay results from the southern main mineralized zone (reported length measured along the holes):

Significant Intersections (Above 1 g/t)

BHID From To Intersection Length (m) Au_Final (g/t)
KB19_P1_20 62.25 63.50 1.25 1.14
KB19_P1_20 77.00 78.00 1.00 1.18
KB19_P1_20 120.00 121.00 1.00 4.08
KB19_P1_20 123.91 125.10 1.19 1.30
KB19_P1_20 189.00 190.00 1.00 26.50
KB19_P1_20 206.00 207.00 1.00 1.44
KB19_P1_21 18.00 20.00 2.00 11.90
KB19_P1_21 22.10 23.20 1.10 7.14
KB19_P1_21 86.90 88.50 1.60 2.94
KB19_P1_21 88.50 89.50 1.00 2.78
KB19_P1_21 97.50 98.80 1.30 4.93
KB19_P1_21 104.30 105.50 1.20 1.75
KB19_P1_21 108.50 109.50 1.00 1.57
KB19_P1_21 112.40 113.40 1.00 1.20
KB19_P1_21 123.00 124.50 1.50 1.11
KB19_P1_28 123.00 125.50 2.50 1.32
KB19_P1_28 146.63 147.63 1.00 1.95
KB19_P1_28 183.10 184.10 1.00 2.80
KB19_P1_28 189.70 190.70 1.00 1.25
KB19_P1_28 193.70 194.70 1.00 4.13
KB19_P1_28 229.67 230.67 1.00 1.64
KB19_P1_23 46.55 50.00 3.45 1.93
KB19_P1_23 76.00 77.00 1.00 2.59
KB19_P1_23 81.05 82.75 1.70 1.57
KB19_P1_23 83.33 84.45 1.12 1.40
KB19_P1_23 85.45 86.45 1.00 1.75
KB19_P1_23 101.13 102.19 1.06 1.33
KB19_P1_23 105.00 107.00 2.00 1.35
KB19_P1_23 132.00 133.00 1.00 1.71
KB19_P1_23 138.65 139.52 0.87 1.08
KB19_P1_23 141.05 141.96 0.91 5.41
KB19_P1_23 149.95 151.00 1.05 1.44
KB19_P1_27 33.50 35.00 1.50 4.18
KB19_P1_27 39.00 40.00 1.00 1.84
KB19_P1_27 44.00 45.00 1.00 1.37
KB19_P1_32 54.40 55.50 1.10 5.12
KB19_P1_31 126.79 129.40 2.61 5.25
KB19_P1_31 139.00 141.00 2.00 4.79
KB19_P1_31 142.50 143.60 1.10 1.34
KB19_P1_31 153.47 158.10 4.63 1.34
KB19_P1_31 291.72 292.72 1.00 3.76

Mineralization Zones

    Mineralised Zone Includes
BHID Ore Body From To Composite Length (m) Composite Grade (g/t) From To Includes (m) Includes (g/t)
KB19_P1_20 Main Shear South 56.00 78.00 22.00 0.30 62.25 63.50 1.25 1.14
KB19_P1_20 Main Shear South         77.00 78.00 1.00 1.18
KB19_P1_20 Main Shear South 114.00 135.00 21.00 0.47 120.00 121.00 1.00 4.08
KB19_P1_20 Main Shear South         123.91 125.10 1.19 1.30
KB19_P1_20 Main Shear South 156.00 191.90 35.90 0.87 189.00 190.00 1.00 26.50
KB19_P1_20 Main Shear South 200.00 209.00 9.00 0.41 206.00 207.00 1.00 1.44
KB19_P1_22 Main Shear South 4.00 14.00 10.00 0.09        
KB19_P1_21 Main Shear South 14.00 35.60 21.60 1.67 18.00 20.00 2.00 11.90
KB19_P1_21 Main Shear South         22.10 23.20 1.10 7.14
KB19_P1_21 Main Shear South 58.60 129.30 70.70 0.46 86.90 88.50 1.60 2.94
KB19_P1_21 Main Shear South         88.50 89.50 1.00 2.78
KB19_P1_21 Main Shear South         97.50 98.80 1.30 4.93
KB19_P1_21 Main Shear South         104.30 105.50 1.20 1.75
KB19_P1_21 Main Shear South         108.50 109.50 1.00 1.57
KB19_P1_21 Main Shear South         112.40 113.40 1.00 1.20
KB19_P1_21 Main Shear South         123.00 124.50 1.50 1.11
KB19_P1_21 Main Shear South 155.00 157.00 2.00 0.11        
KB19_P1_28 Main Shear South 110.00 111.00 1.00 0.64        
KB19_P1_28 Main Shear South 117.00 161.10 44.10 0.40 123.00 125.50 2.50 1.32
KB19_P1_28 Main Shear South         146.63 147.63 1.00 1.95
KB19_P1_28 Main Shear South 177.10 194.70 17.60 0.56 183.10 184.10 1.00 2.80
KB19_P1_28 Main Shear South         189.70 190.70 1.00 1.25
KB19_P1_28 Main Shear South         193.70 194.70 1.00 4.13
KB19_P1_28 Main Shear South 218.64 219.64 1.00 6.07        
KB19_P1_28 Main Shear South 228.67 230.67 2.00 0.92 229.67 230.67 1.00 1.64
KB19_P1_28 Main Shear South 246.67 258.18 11.51 0.19        
KB19_P1_23 Main Shear South 28.20 31.80 3.60 0.38        
KB19_P1_23 Main Shear South 42.00 50.00 8.00 1.01 46.55 50.00 3.45 1.93
KB19_P1_23 Main Shear South 62.75 64.34 1.59 0.57        
KB19_P1_23 Main Shear South 73.00 160.30 87.30 0.43 76.00 77.00 1.00 2.59
KB19_P1_23 Main Shear South         81.05 82.75 1.70 1.57
KB19_P1_23 Main Shear South         83.33 84.45 1.12 1.40
KB19_P1_23 Main Shear South         85.45 86.45 1.00 1.75
KB19_P1_23 Main Shear South         101.13 102.19 1.06 1.33
KB19_P1_23 Main Shear South         105.00 107.00 2.00 1.35
KB19_P1_23 Main Shear South         132.00 133.00 1.00 1.71
KB19_P1_23 Main Shear South         138.65 139.52 0.87 1.08
KB19_P1_23 Main Shear South         141.05 141.96 0.91 5.41
KB19_P1_23 Main Shear South         149.95 151.00 1.05 1.44
KB19_P1_27 Main Shear South 27.00 45.00 18.00 0.69 33.50 35.00 1.50 4.18
KB19_P1_27 Main Shear South         39.00 40.00 1.00 1.84
KB19_P1_27 Main Shear South         44.00 45.00 1.00 1.37
KB19_P1_27 Main Shear South 56.00 62.40 6.40 0.32        
KB19_P1_29 Main Shear South 40.79 42.00 1.21 0.42        
KB19_P1_32 Main Shear South 26.00 36.80 10.80 0.13 33.00 33.80 0.80 0.39
KB19_P1_32 Main Shear South 50.00 55.50 5.50 1.13 54.40 55.50 1.10 5.12
KB19_P1_24 Main Shear South 0.00 7.00 4.00 0.28 6.00 7.00 1.00 0.56
KB19_P1_31 Main Shear South 0.00 1.10 1.10 0.41 0.60 1.10 0.50 0.74
KB19_P1_31 Main Shear South 123.79 129.40 5.61 2.67 126.79 129.40 2.61 5.25
KB19_P1_31 Main Shear South 134.00 164.79 30.79 0.86 139.00 141.00 2.00 4.79
KB19_P1_31 Main Shear South         142.50 143.60 1.10 1.34
KB19_P1_31 Main Shear South         153.47 158.10 4.63 1.34
KB19_P1_31 Main Shear South 209.90 214.00 4.10 0.13        
KB19_P1_31 Main Shear South 252.15 257.15 5.00 0.09        
KB19_P1_31 Main Shear South 265.15 269.81 4.66 0.24        
KB19_P1_31 Main Shear South 279.48 286.61 7.13 0.12        
KB19_P1_31 Main Shear South 291.72 292.72 1.00 3.76        
KB19_P1_31 Main Shear South 300.33 303.81 3.48 0.36        

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