Measured and Indicated Mineral Resource Hits 1.71 Million Ounces
African Gold Group, Inc. (TSXV: AGG, OTC: AGGFF) has unveiled an updated Mineral Resource Estimate (MRE) for its Kobada Gold Project in southwestern Mali, Africa.
The MRE update is based on additional drilling completed on the Kobada main shear from September 2020 until January 2021, which will form part of a revised definitive feasibility study (expected to be delivered by the end of September).
Additionally, the Company has engaged various advisors to outline potential corporate opportunities.
CEO, Danny Callow, said the drilling campaign was focused on the “gap” area and the northern portion of the Kobada main shear, as well as testing the Gosso target for future potential. The drilling has once again increased the confidence in the geological model even further and resulted in a substantial increase in the Mineral Resource Estimate.
“With very little additional drilling on the Phase 4A drill programme, we have proven the continued significant upside in our Kobada asset,” Mr Callow said.
“These results are substantially better than those in the July 2020 Definitive Feasibility Study, and we are very excited to see this continued growth in measured and indicated resources.
“From this new drilling, we have added additional shallow, easily accessible inferred resources, and through further targeted drilling programmes, in Phase 4B and 4C we believe there is substantial further upside in resource growth.
“We have always stated that there is significant upside in Kobada, and with more than 50 km of shear zones still untested with the drill bit, we believe we are sitting on a substantial world class resource.”
2020 Drilling Campaign
The 2020 drilling campaign, running from September 2020 until January 2021, consisted of 43 drillholes totalling 6,364m. Of these, four drillholes (522m) were drilled at the Gosso target and the remaining 39 drillholes (5,842m) were drilled in the “gap” area and northern extents of the northern domain of the Kobada main shear.
The Gosso drillholes were all completed using diamond drilling while the Kobada drilling was a combination of diamond drilling (eight holes @ 1,258m) and RC drilling (21 holes @ 2,890m) with selected RC drillholes being completed with diamond tail (10 holes @ 1,221m RC and 473m diamond) to drill into the sulphides.
The main focus of the 2020 drilling campaign was to confirm the geological model and improve the confidence in the model even more to enable additional Mineral Resource conversion of the oxides to the measured and indicated resource categories. The drilling was also used to test and confirm the depth extension of the lateritic (soft) material, the transition zone and the sulphides at depth.
For the Kobada main shear drilling, 34 drillholes intersected the mineralised zones and had an average accumulated mineralisation width of 29m @ 1.22 g/t. This drilling has significantly contributed to the increase in the indicated resource in the northern domain of the Kobada main shear.
The drilling also highlighted areas of deeper weathering with oxide material extending further down to a depth of approximately 160 m in places, approximately 60 to 80 m deeper than originally anticipated.
The Gosso drillholes confirmed the mineralisation observed in the historical drillholes with the four drillholes having an average accumulated mineralisation width of 12m @ 1.11 g/t.
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