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African Gold Group Increases Vertical Depth of Oxide Ore Body, Intersects 18.5 g/t Au and 8.41 g/t Au at the Kobada Gold Project on In-Fill Drilling Programme


African Gold Group I

iCrowdNewswire   Nov 19, 2020  1:06 PM ET

African Gold Group, Inc. is pleased to announce updated results from its Phase 4 in-fill drilling campaign targeting conversion of Inferred oxides into Measured and Indicated Resources. Most recent drilling results continue to show extensions of the oxide orebody at depth, far deeper than expected with numerous high-grade gold intersections. Ongoing drilling continues to test strike, depth and plunge extensions of the mineralized system.

Highlights

Drilling highlights include (Table 1):

Andy RompelVice President Exploration of African Gold Group commented:

“I am very pleased to report that these drill results have exceeded our expectations and the saprolite zone of the oxidised resource is larger than anticipated. We have drilled soft mineralised lithologies at unexpected depth and can push the boundary between soft and hard rock further down. This will consequently add volume to our already known resource. We will continue to pursue this occurrence further northwards where we intend to confirm the mineralisation along the Kobada shear and its northern extension. We see great potential along this and our neighbouring shear zone along the Gosso target, which has only recently been proven auriferous on surface as well as at depth.”

Overview of drilling programme

Drill rigs have been operating since early September 2020, and despite heavy rains, the Company has made very good progress in its exploration drilling programme. To date, 3,051 m have been drilled, of which 1,690 m were Reverse Circulation drilling (RC) and 1,361 m were Diamond drilling (DD). The assay results from the infill drilling campaign on the Kobada Main shear zone have confirmed that to date, large portions of the geological model and the anticipated grade of the Inferred oxide Mineral Resource correlate positively with the 1.34 g/t mean grade currently used in the existing Inferred Resource estimate. In addition, the boundary between the oxidised lithologies and the unaltered (sulphide) lithologies has been repeatedly intersected at deeper levels than anticipated. These results are conducive to adding more volume at depth to the Inferred Mineral Resource in the oxides.

The campaign to upgrade a portion of the Inferred oxide Mineral Resources is part of a three-phase drilling campaign. The objective of the drilling campaign is to upgrade the Inferred oxide resource to a higher confidence category, test the northern extension of the Kobada shear beyond the last known occurrence in the northern parts of the Kobada concession and the initial drill-testing of the neighbouring Gosso shear zone (see press release dated October 20, 2020). It comprises an initial 6,720 m at a split of 70% RC holes (4,704 m) and 30% DD holes (2,016 m).

About African Gold Group

African Gold Group is a TSX Venture Exchange 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 2020 DFS and is targeting gold production of 100,000 oz per annum by Q2 2022. As well as the initial Kobada Gold Project, other exploration locations have been identified on the Kobada, Farada 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.

Qualified Person

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.

For more information:

Danny Callow
President and Chief Executive Officer
+(27) 76 411 3803
Danny.Callow@africangoldgroup.com

Scott Eldridge
Non-Executive Chairman of the Board
(604) 722-5381
Scott.Eldridge@africangoldgroup.com

Daniyal Baizak
VP Corporate Development
(647) 835-9617
Daniyal.Baizak@africangoldgroup.com

Camarco (Financial PR)
Gordon Poole
Nick Hennis
+44 (0) 20 3757 4997
AfricanGoldGroup@camarco.co.uk



Contact Information:

Danny Callow
President and Chief Executive Officer
+(27) 76 411 3803
Danny.Callow@africangoldgroup.com








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