AMN - MALI: Broad gold intersection at Kobada

African Gold Group (AGG) has received a broad gold intersection of 44 metres at 0.95 g/t gold in the first drill hole from the Central part of the Kobada Main Shear Zone in Mali. High-grade components of this intersection indicate the considerable upside potential at the project. 

Highlights include 11.6 g/t gold over 1.55 metres and 5.96 g/t gold over 1-metre.

The first hole in the central portion of the Main Shear Zone in the Phase 1 program far exceeded expectations and clearly outlines the strong upside potential given the results are materially above the current resource grade. Drilling continues in this zone with several additional holes expected to be completed over the coming weeks.

AGG anticipates future results from this area will be equally favourable.

Chairman Stan Bharti said, "We are thrilled that these additional higher-grade results confirm our long-standing view that the Kobada project is higher grade over larger thicknesses.

"We anticipate additional drilling in this area will provide further support for our view."

Bharti said, "We are very excited to have intersected better than expected grades.

VP Exploration Dr Andreas Rompel said, "This high-grade mineralisation in the central zone of the Kobada main shear confirms our belief that the resource is bigger with better thicknesses than suggested in previous studies.

"We are now in a better position to design a very robust open pit in this area."

The Phase 1 drilling program is designed to build on the existing mineral resource estimate of 1.2 million ounces of gold at 1.1 g/t gold in indicated and 1.0 million ounces of gold at 1.0 g/t gold in inferred.

Drilling to date shows a strong correlation to the existing resource, however recent results suggest the grade could increase materially, particularly in the Central Zone.

Phase 1 drilling is nearly complete and sites for the planned Phase 2 drilling campaign are being prepared.

The first phase of diamond drilling is focused on moving the current resource to a higher confidence level in the Kobada Main Shear Zone with the Phase 2 program designed to increase the total resource.

Drilling is ongoing and moving northwards towards the central portion of this shear zone.

This program will assist in refining the structural geology and mineralisation model that is being established by Minxcon in conjunction with the definitive feasibility study being developed by SENET.

AGG expects the Phase 1 and Phase 2 drilling campaigns to be completed by the end of December 2019, with further phases of drilling targeting additional shear zones in the first quarter of 2020.

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