TORONTO, ONTARIO--(Marketwire - Nov. 16, 2010) - African Gold Group, Inc., (TSX VENTURE:AGG) ("AGG" or the "Company")is pleased to report the analytical results for 4 near surface stepout, reverse circulation ("RC") drill holes from AGG's Kobada, Maligold project.
These 4 holes, drilled on section2700S, represent a step out of approximately 100 meters south ofsection 2600S, representing the southern extremity of the mineralizedenvelope that contains AGG's historical 43-101 initial resourcesestimate of approximately 740,000 oz's Au at an average grade of 1.25g/t Au (visit www.africangoldgroup.com).
Table1 below depicts the significant intercepts from the four near surface,step out drill holes being reported in this release. A drill holelocation map can be viewed by activating the link: https://media3.marketwire.com/docs/AGGDHPM.pdf.
TABLE 1
AGGbelieves the significance of today's 4 step out holes, drilled onsection 2700S, should be viewed within the context of the 6 step-outholes the Company reported on August 31, 2010. Collectively, these 10holes represent three distinct fences, drilled 50 meters apart onsections 2700S (today's release), 2750S and 2800S (Aug. 31, 2010release). Activate Link to view August 31, 2010 press release. https://africangoldgroup.com/index.php?option=com_content&view=category&id=47&Itemid=100
Whenthe four step out holes being reported today are examined within thecontext of the six step out holes reported on Aug 31 (2010), we areconclusively demonstrating that this new zone of gold mineralization is:
- considerably outside of the current 43-101 resource model;
and
- a revised 43-101 model should reflect a substantial increase in tonnage and ounces Au, derived from the inclusion of the southern extension of Zone 1, alone.
Table 2 belowdepicts the significant intercepts from four of six near surface, stepout drill holes drilled on section 2750S and 2800S, reported in AGG'sAugust 31, 2010 press release.
TABLE 2
"Weare most encouraged with these southern step out holes and eager tocontinue expanding the southern potential of Zone 1. The collectiveresults of our drilling on sections 2700S, 2750S and 2800S clearlydemonstrates we are wide open to the west and south of the current43-101 resource model. Also, we note our holes are quite often endingin mineralization and therefore, we remain open at depth. Further drilltesting of this region will represent one of our highest prioritiescommencing in January, 2011," states AGG President and Director,Michael A. Nikiforuk.
Under the guidelines of NationalInstrument 43-101, the qualified person for the Kobada Gold Project isMr. Pierre Lalande, P. Geo. Mr. Lalande is a member of the Associationof Professional Geoscientists of Ontario and has reviewed and approvedthe contents of this news release.
Sampling - QA/QC Program
RCcuttings are recovered at the bottom outlet of the RC rig cyclone into50-kg capacity poly-weave bags to recover the cuttings from each 1meter of drill penetration. Each one meter sample weighs an average ofapproximately 19 to 23 kg. Each sample is passed through a 3-tier JonesRiffler (1 to 8 split), the samples are riffled twice to obtain from 3to 5 kg of cuttings which are put in a numbered sample bag. Each bag issealed and dispatched to the ALS Chemex laboratory located in BurkinaFaso. The remaining 14 to 18 kg of cuttings (field rejects) are storedin camp under tarps to protect the bags against the elements.
Originalsamples are analyzed using Leachwell on 2 kg of pulp. Leachwell is abottle roll cyanidation procedure with the addition of a catalyst tospeed up gold dissolution. A QA/QC program is in place andincludes: blank (1 in 20 samples), duplicates (1 in 20), standards (1in 20), external lab checks (1 in 30) and two different analyticalprocedures check (1 in 100).
African Gold Group, Inc.,based in Toronto, Canada, is engaged in the identification, acquisitionand exploration of prospective gold projects that are situated alongsignificant gold trends within West Africa. To date, the Companycontrols a total of twelve gold concessions that are consolidated infive distinct standalone exploration projects, of which three projectsare located in Ghana and the remaining two are located in Mali, WestAfrica.
Additional Information is available on the Company's website at www.africangoldgroup.com and on www.sedar.com and through the Company's offices at: Sun Life Financial Tower, Suite 2518, 150 King St. West, Toronto, Canada M5H 1J9
On Behalf of the Board:
Michael A. J. Nikiforuk, President, Director