Same info in Dec.3rd NR AFRICAN GOLD GROUP MAKES SIGNIFICANT PROGRESS AT KOBADA GOLD PROJECT. CONFERENCE CALL THURSDAY DECEMBER 5TH
3 DECEMBER 2019
Toronto, Canada – December 3, 2019 – African Gold Group, Inc. (TSX-V: AGG) (“AGG” or the “Company”) is pleased to provide shareholders with an update on the Company`s significant progress at the Kobada Gold project and will be hosting a conference call to provide an update to its shareholders.
| Conference Call Details Investors can call in and Q&A with Stan Bharti, the Chairman and Danny Callow, the Chief Operating Officer, at 10:00 a.m. EST on December 5th, 2019, at the number below: North American Toll-Free Number: 844-467-7965 International Number: 602-563-8498 Conference ID: 7681298 |
Phase 1 Drilling Campaign Success
The Phase 1 drilling campaign focused on confirming and upgrading the confidence level of the resource in the feasibility study from 2016 (the “2016 Feasibility Study”). High-grade intersections from Phase 1 drilling indicate that there is upside potential at the Kobada Gold project.
Highlights from Phase 1 drilling campaign include:
- Drill hole KP19_P1_17 returned 1.59 g/t gold over 11.0 metres (m), including 19.0 g/t gold over 0.80 m
- Drill hole KP19_P1_17 returned 6.39 g/t over 1.0 m
- Drill hole KP19_P1_18 returned 11.6 g/t gold over 1.55 m
- Drill hole KP19_P1_18 returned 5.96 g/t gold over 1.0 m
- Drill hole KP19_P1_03 returned 3.09 g/t gold over 2.50 m
Better than expected high-grade mineralization in the central zone of the Kobada main shear reinforce our belief that the resource is bigger with greater thicknesses than suggested in the 2016 Feasibility Study. High-grade intersections and additional resources in satellite orebodies should complement the resource model favorably.
“We are very happy to have completed the Phase 1 drilling campaign aimed at confirming and upgrading the resource confidence level,” says Dr. Andreas Rompel, VP Exploration, “and we are keenly expecting the remaining results to complement our already published high-grade intersections in the area of the open pit which exceeded our expectations.”
The Phase 2 drilling campaign has already commenced towards the north and aims at extending our resource northward. Continuing mineralization to the north of central zone is expected to further confirm our view that the Kobada project is larger than previously suggested.
“The results that we are seeing on this initial phase of drilling indicate a strong correlation to the resource model in the 2016 Feasibility Study. In addition, efforts at updating the structural information into the new model and are paying dividends as we are able to closely map identical structures in adjacent shear zones that are future exploration targets.” says Danny Callow, COO of AGG. “Whilst the intention in Phase 1 and 2 drilling is to confirm the existing resource model to a higher degree of accuracy, the overall resource is still only concentrated on a 4km strike length within the main shear zone. With a further 26km of shear zones identified on our concession, and a more accurate geological template to identify key drilling targets, we believe that we will be able to define a significantly higher resource with extra drilling.”