AMN - MALI: Broad, high-grade gold results at Kobada

African Gold Group has received encouraging new drill results from the Kobada Gold Project in southern Mali. The results of up to 2.14 g/t gold over 16 metres include additional high-grade intersections in the northern extension of the main shear zone.

The Kobada project is fully licensed and is progressing towards completion of a definitive feasibility study (DFS) during the current quarter. The company also expects to release an updated mineral resource statement in the coming weeks.

Drilling has returned intersections of broad and continuous mineralisation progressing to new depths within a largely untested area of the Kobada concession.

The 16-metre intersection included 1-metre at 30.8 g/t. Other results:

• 2.12 g/t over 3.0 metres and 1.88 g/t over 1-metre;
• 2.0 g/t over 2.3 metres and 3.79 g/t over 1.1 metres;
• 2.49 g/t over 4.03 metres including 2.89 g/t over 3.39 metres; and
• 3.26 g/t over 2.20 metres.

Vice-president exploration Andreas Rompel said: "We still encounter high-grade mineralisation moving northwards beyond the planned open pit along strike and down dip, proving the yet open-ended extension northwards and along dip beyond the saprolite zone.

"Furthermore, we are testing the width of the Kobada Shear and are happy to see that it extends further westwards than anticipated in parts."

The Kobada Gold Project is a fully licensed and permitted advanced development project in the prolific Birimian Greenstone belt in Southern Mali.

The company is working towards delivering the DFS this quarter as part of the final process before commencement of construction.

Since 2019, the company has completed a drilling campaign totalling 11,428 metres within the project's concession area.

To date, the company has not discovered the northern or the southern end of mineralisation along the Kobada Shear.

Furthermore, African Gold intends to step away from the Kobada Shear to test the neighbouring and parallel-striking Gosso Shear, which has been exposed by shallow artisanal mining.

Following on from the previously reported drill holes of the Phase 2 drilling program, the current batch of assay results received from SGS laboratory in Bamako continues to demonstrate the large extent of the mineralisation along strike and down-dip along the highly prolific and auriferous Kobada shear zone.

Results from the Phase 2 drilling program will be incorporated into an updated mineral resource statement targeted to be released within the next few weeks.

www.africangoldgroup.com