World News: 22:14 GMT Tuesday 3rd December 2019. [African Gold Group, Inc. via Globe Newswire via SPi World News]
TORONTO, Dec. 03, 2019 (GLOBE NEWSWIRE) -- African Gold Group, Inc. (TSX-V: AGG) (“” or the “”) is pleased to provide shareholders with an update on the Company`s significant progress at the Kobada Gold project and will be hosting a conference call to provide an update to its shareholders.
Investors can call in and Q&A with Stan Bharti, the Chairman and Danny Callow, the Chief Operating Officer, at 10:00 a.m. EST on December 5th, 2019, at the number below:
North American Toll-Free Number: 844-467-7965International Number: 602-563-8498Conference ID: 7681298
The Phase 1 drilling campaign focused on confirming and upgrading the confidence level of the resource in the feasibility study from 2016 (the “”).
Better than expected high-grade mineralization in the central zone of the Kobada main shear reinforce our belief that the resource is bigger with greater thicknesses than suggested in the 2016 Feasibility Study. High grade intersections and additional resources in satellite orebodies should complement the resource model favorably.
The Phase 2 drilling campaign has already commenced towards the north and aims at extending our resource northward. Continuing mineralization to the north of central zone is expected to further confirm our view that the Kobada project is larger than previously suggested.
“The results that we are seeing on this initial phase of drilling indicate a strong correlation to the resource model in the 2016 Feasibility Study. In addition, efforts at updating the structural information into the new model and are paying dividends as we are able to closely map identical structures in adjacent shear zones that are future exploration targets,” says Danny Callow, COO of AGG. “Whilst the intention in Phase 1 and 2 drilling is to confirm the existing resource model to a higher degree of accuracy, the overall resource is still only concentrated on a 4km strike length within the main shear zone. With a further 26km of shear zones identified on our concession, and a more accurate geological template to identify key drilling targets, we believe that we will be able to define a significantly higher resource with extra drilling.”
This program has already had an impact on improving the understanding of the structural geology and mineralization model, which will enable AGG to accurately identify additional drilling targets in adjacent shear zones. AGG expects the Phase 2 drilling campaign to be completed towards the end of December 2019, with further phases of drilling targeting additional shear zones in the first quarter 2020. The diamond drilling contractor AMCO has demonstrated an outstanding performance in challenging, wet conditions during the end of the rainy season.
Since the last construction progress update, the infrastructure at the new and old camps have been fully completed. Personnel has been relocated to the camps ahead of schedule despite heavy rains and poor weather conditions.
The new senior camp consists of multiple comfortable accommodation units with en-suite bathrooms, a large dining room, kitchen and office complex to cater for the start-up phase, as well as on site water and electricity supply. The coreyard has been extended to accommodate the core storage of the 2019 drilling program.
As a part of program to deliver a definitive feasibility study, the Company is working on updating approved environmental and social impact assessment (the “”). Environmental baseline data collection and studies are in progress with teams already at site with multiple field campaigns and monitoring programs planned.
The Kobada Gold project is fully licensed and permitted by the Government of Mali. However, in anticipation of the construction beginning in 2020, it was deemed necessary by the management to update the ESIA to include the results of the 2019 drill program and account for the developments at site. The management of the Company does not expect any major changes to the existing ESIA and therefore would not require any new applications.
The updated ESIA study will be prepared in accordance to the IFC and World Bank international guidelines.
As a part of our community engagement program, our Company has been employing, where possible, workers from the local community. In addition, we have been focusing on utilizing only local and regional suppliers for the local procurement of goods and services.
AGG sees its commitment to the local community as one of the critical success factors in delivering the Kobada project and will continue to meet regularly and communicate with Kobada`s chiefs as the development of the mine progresses.
Moving forward, our Company will continue to build a strong nurturing relationship with local communities and will continue to adhere to international corporate social responsibility standards.
As part of the upgrade to a definitive feasibility study, a comprehensive metallurgical testwork regime is well underway. The testwork is pointing towards a simple, very efficient flow sheet with currently no deleterious elements in the orebody and high recoveries of gold. The design of a detailed process flow sheet is underway as is the development of the process design criteria and expectations are that a detailed, optimized metallurgical design will be completed earlier than expected.
The scientific and technical information contained in this press release has been reviewed, prepared and approved by Dr. Andreas Rompel, PhD, Pr. Sci. Nat. (400274/04), FSAIMM, Vice President Exploration of AGG, who is a "Qualified Person" and by Mr. Uwe Engelmann (BSc (Zoo. & Bot.), BSc Hons (Geol.), Pr.Sci.Nat. No. 400058/08, MGSSA), a director of Minxcon (Pty) Ltd and a member of the South African Council for Natural Scientific Professions.
African Gold Group is a Canadian listed exploration and development company on the TSX Venture Exchange (TSX-V: AGG) with its focus on developing a gold platform in West Africa. Its principal asset is the Kobada Project in southern Mali. For more information regarding African Gold Group visit our website at .
Stan BhartiPresident and Chief Executive Officer(416) 861 2267
Globe Newswire: 22:14 GMT Tuesday 3rd December 2019
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