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African Gold Group Intersects 1.60 g/t Gold Over 19 Metres and 1.80 g/t Gold Over 18 Metres at Kobada and Succesfully Renews Adjacent Exploration License

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TORONTO, Aug. 22, 2018 (GLOBE NEWSWIRE) -- African Gold Group. (TSX-V:AGG) ("AGG" or the "Company") is pleased to provide drilling results from its Kobada gold project (the "Koboda Project") located in south eastern Mali, Africa. The 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 mineralization. The Company is also pleased to announce the engagement of DRA Global (Toronto) on a feasibility study gap analysis and renewal of its exploration license adjacent to Kobada.

Figure 1
Kobada Project area in southern Mali



Figure 2
Location of RC holes in relation to historical drilling and 0.3 g/t grade shell used for exploration targeting.



Figure 3
Cross section through RC2 showing likely down dip extent of gold mineralization of 0.3 g/t shell used for exploration drilling targeting. (View to north).



Figure 4
AGG's licences in southern Mali showing both the mining licence and recently renewed (August 16, 2018) exploration licence.



The first five (5) reverse circulation ("RC") holes drilled at the Kobada Project were designed to confirm the extent of gold mineralization from historic drilling in an area that had been drilled parallel to trend and to generate a better understanding of the controls on mineralization, lithological characteristics and structures of the Kobada Project deposit so as to guide next phases of drilling.

Highlights:

  • 1.60 grams per tonne gold (g/t Au) over 19 metres, from 86.0m, including 3.24 g/t Au over 6.0m within the Kobada Shear Zone in hole RC2.
  • 1.80 grams per tonne gold (g/t Au) over 18 metres from 114.0m, including 18 g/t Au over 1.0m, within the Kobada Shear Zone in hole RC3.
  • DRA Global (Toronto) have been engaged to complete a gap analysis on the historical feasibility study.
  • Kobada Est exploration license adjacent to Kobada Mining License has been successfully renewed for a further three (3) years.

"Our welcome return to drilling at Kobada, Mali has delivered exciting initial results that continue to demonstrate shallow and wide zones of gold mineralization at the project," noted Stephan Theron, President and CEO. "Our newly assembled technical team set out to demonstrate, in a short period of time, an increased confidence in the controls on gold mineralization, and expand new opportunities across our land package – we are successfully on that path with both our drilling results and adjacent exploration license renewal. We also look forward to additional diamond drill results and updating our shareholders as soon as possible."

Mr. Theron also noted, "We are also excited to engage DRA Global (Toronto) to complete a gap analysis of the historical feasibility study with respect to current, updated industry standards. This work will enable us to rapidly move forward towards an updated feasibility study with greater effectiveness and efficiency."

RC Drilling Results

691 metres in five (5) RC holes were completed in phase 1. Drilling focused on the northern limits of the historical and published National Instrument 43-101: Standards of Disclosure for Mineral Projects (NI 43-101) Mineral Resources in an area where previous drilling was orientated parallel to mineralization trend. (Figures 1, 2 and 3)

 

 

Significant Mineralized Zones
           
                 
  Mineralized Zones Mineralized Intersections  (inclusive)
BHID From To Width
(m)
Grade
(g/t)
From To Width
(m)
Grade
(g/t)
RC1 55 57 2 2.99        
RC1 73 75 2 0.43        
RC1 84 86 2 0.50        
RC1 89 91 2 4.01        
RC1 107 108 1 1.71        
RC1 117 122 5 0.79        
RC1 133 138 5 0.50        
RC2 44 46 2 2.42        
RC2 71 73 2 0.37        
RC2 86 105 19 1.60 89 95 6 3.24
RC2 125 127 2 0.79        
RC2 130 131 1 1.00        
RC3 47 49 2 1.06        
RC3 114 132 18 1.80 131 132 1 18.7
RC3 139 140 1 4.32        
RC4 47 53 6 0.63        
RC4 56 59 3 0.45        
RC4 79 85 6 1.09 79 80 1 3.57
RC4 120 126 6 0.66 120 121 1 1.54
RC4 138 140 2 0.68        
RC5 81 86 5 0.69 85 86 1 2.24
RC5
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