AMN - MALI: Strong gold results from Kobada

African Gold Group has intersected high-grade gold in shallow diamond core drilling at the Kobada Gold Project in south-eastern Mali. Results include 1.15 g/t gold over 14 metres from 53 metres and 1.05 g/t over 24.97 metres from 61.2 metres.

The five-hole diamond drill program was designed to confirm and expand knowledge of existing shallow mineral resources, as well as explore down dip and along strike from known mineralisation.

The 14-metre intersection within the Kobada Shear Zone included 2 metres at 4.06 g/t while the 24.97-metre intersection in the same zone included 4 metres at 3.415 g/t.

President and CEO Stephan Theron said, “Our follow-up diamond core drilling program at Kobada has delivered further exciting results that continue to demonstrate shallow and wide zones of gold mineralisation at the project that was demonstrated in both our recent 2018 RC drill hole results and from historical drilling.

“We now plan to undertake further drilling after the end of the wet season along with the results from our feasibility gap analyst study currently being undertaken by DRA.”

There were 500.4 metres completed in the five holes in the phase 1 program, which focused on the northern limits of the historical and published NI 43-101 mineral resource in an area where previous drilling was orientated parallel to the mineralisation trend.

Gold at the Kobada Project is present in the laterite, saprolite and quartz veins. There are also placer style deposits in the region, although these have largely been exploited by artisanal miners.

Mineralisation at the Kobada project extends for a minimum strike of 4km and is associated with narrow, irregular, high-angle quartz veins and with disseminated sulphides in the wall rock and vein selvages.

Kobada is a near-surface gold project that has a mineral resource base in all categories of over 2.2 million ounces.

The project is in Mali, Africa’s third largest gold producing nation, 125km south-southwest of its capital city, Bamako.

Previous operators completed 1,108 holes and 126,335 metres of drilling on the property and completed three economic studies, the last one being a feasibility study released in February 2016.

Although the economics were compelling, the new management of the project has decided to undertake internal scoping studies in order to gain a better understanding of the project with a goal to optimise the size of the envisioned mine and increase the confidence in the resource model.

An additional 30km of shear zone structures have been identified on the property and have yet to be explored.

African Gold Group is a Canadian listed exploration and development company on the TSX Venture Exchange with its focus on developing a gold platform in West Africa. Its two principal assets are the Kobada project in Mali and a gold project in Madougou, Burkina Faso.

www.africangoldgroup.com