- African Gold Group (AGG) has delivered a 44 per cent increase in the Kobada Gold Project’s measured and indicated mineral resource
- The MRE update is based on additional 2020-21 drilling, which will form part of a revised definitive feasibility study by the end of this month
- The company believes Kobada has significant upside potential in the 55 km strike of potential mineralized shear zones
- African Gold Group is focused on building Africa’s next mid-tier gold producer
- African Gold Group (AGG) is up by 19.23 per cent and is currently trading at $0.155 per share
African Gold Group (AGG) has delivered a 44 per cent increase in the Kobada Gold Project’s measured and indicated mineral resource.
The MRE update is based on additional drilling on the Kobada Main Shear from September 2020 until January 2021, which will form part of a revised definitive feasibility study by the end of this month.
2020 drilling campaign
For Kobada Main Shear drilling, 34 drill holes intersected mineralized zones and had an average accumulated width of 29 m at 1.22 g/t Au.
The Gosso drill holes confirmed the mineralization observed in historical drill holes with the four drill holes averaging 12 m at 1.11 g/t Au.
The company believes Kobada has significant upside potential in the 55 km strike of potential mineralized shear zones.
Kobada mineral resource reconciliation
Danny Callow, CEO of African Gold Group, stated,
“We are delighted to announce these phenomenal results from our Kobada Gold Project in Mali. With the inclusion of significant exploration drilling within our oxides and fresh rock, we have achieved a substantial increase in total resource to more than 3.1 million ounces, which includes a 44 per cent increase in Measured and Indicated resource of 1.71 million ounces, and a 26 per cent increase in an inferred resource of 1.43 million ounces.
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.”
African Gold Group is focused on building Africa’s next mid-tier gold producer.
African Gold Group (AGG) is up by 19.23 per cent and is currently trading at $0.155 per share as of 12:25 pm ET.