Highlights include:
- Trenching program continues to expand the footprint of the mineralized shear zones discovered on the property and further confirms the similarity of the geological structure to the Kobada main shear zone and the Gosso shear zone
- Trench 2: 80m long, with good intersections within 1m @ 2.27g/t and 1m @ 8.11g/t
- Trench 3: Trench crosscutting several E-W veins and veinlets
- Many intersections within 6m @ 1.39g/t followed by another 5m @ 1.19g/t with over 2.5g/t at several places
- Grab samples taken close to trench 3 in historical artisanal mining zone at 3m depth with E-W quartz veinlets occurring into the sap
- Samples following each other on about 5m wide pit at an average of @ 2.79g/t
- Additional positive anomalies from trench 5 and 6 at Fie trend requiring further follow up
The Fié trend is a part of the Kobada Est exploration permit and forms part of the combined 55km of shear zones, identified across the three concessions from previous geophysics, soil geochemistry and other regional exploration. The Kobada Est is a part of a group of permits located on the western flank of the Bougouni basin covering an area of 63,679 acres.
The trenching program was completed in
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6d66191c-201e-4145-8722-b7468234a6e7
The trenching program continues to expand the footprint of the mineralized shear zones discovered on the property and further confirms the similarity of the geological structure to the Kobada main shear zone and the Gosso shear zone. The trenching program has delivered positive results for the mineralization potential of the Kobada Est shear zone and will be followed up with additional trenching and drilling to test the target area in more detail.
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/9b1f6a38-a09d-4c20-b616-ac55d9742c72
https://www.globenewswire.com/NewsRoom/AttachmentNg/c1a39d7a-d97a-4dd1-b777-073c557200a5
https://www.globenewswire.com/NewsRoom/AttachmentNg/6cfe8667-6fcf-4545-9198-e358fe52e5a5
Exploration Next Steps
Following a strong commitment from shareholders in the previous private placement raise, the Company is budgeting additional funds to start to drill out the most prospective shear zones in both the Faraba and Kobada Est exploration concessions.
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About
For more information:
President and Chief Executive Officer + (27) 76 411 3803 Danny.Callow@africangoldgroup.com | Daniyal Baizak Vice President, Corporate Development +1 (647) 835 9617 Daniyal.Baizak@africangoldgroup.com |
Non-Executive Chairman of the Board +1 (604) 722 5381 Scott.Eldridge@africangoldgroup.com | Camarco (Financial PR) +44 (0) 20 3757 4997 AfricanGoldGroup@camarco.co.uk |
Cautionary statements
This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements regarding, the Offering, production potential and economics of the Project, upside potential of the Project, drilling and exploration plans of the Company, and development timetable with respect the Project. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of AGG to be materially different from those expressed or implied by such forward-looking information, including but not limited to: receipt of necessary approvals for the Offering and the
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in
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Figure 1
Localization of the Permit
Figure 2
Trenching Program at Fié Trend
Figure 2
Trenching Program at Fié Trend
Figure 2
Trenching Program at Fié Trend
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