African Gold Group Confirms Gold Mineralization in Step Out Drilling Results at New Shear Zone on the Kobada Gold Project

Figure 1

Kobada and Faraba concessions
Kobada and Faraba concessions
Kobada and Faraba concessions

TORONTO, Oct. 20, 2020 (GLOBE NEWSWIRE) — African Gold Group, Inc. (TSX-V: AGG) (“AGG” or the “Company”) is pleased to announce the initial results of the ongoing 10,000 meter Phase 3 drilling program at the Company`s flagship Kobada Gold Project in Southern Mali. Initial drill hole results successfully confirm the gold mineralization at Gosso shear zone and have delineated approximately 750 m of initial strike length. Drilling activity and preliminary results have been promising and are in line with the goals of the Phase 3 drilling program, potentially increasing the resource through strike length extension drilling and increasing conversion of inferred resources to measured and indicated and subsequently into reserves.

Highlights include:

  • Diamond drilling program at Gosso shear zone shows highly mineralized gold ore body with similar traits to the parallel striking Kobada shear zone (total resource of 2.3 Moz over 4km strike).

  • Confirmed mineralization at the Gosso shear zone reinforces the prospect of multiple mineralized oxide deposits in the nearby vicinity to the planned production plant.

  • 2.56 g/t Au over 8.3 m, including 6.38 g/t Au over 1 m and 10.4 g/t Au over 1.2 m (G20_PH3A_20)

  • 7.19 g/t Au over 1.3 m, and 1.15g/t Au over 12.5 m (G20_PH3C_16).

  • Higher grade gold mineralization confirmed down dip to 100 m and open at depth and along strike.

The Gosso shear zone is located approximately 5 km to the east of the highly prolific Kobada shear zone and extends for a length of at least 5 km. The Gosso target has been previously exposed by historical, artisanal mining. Four holes have been completed and were drilled through the saprolite (soft rock) to intersect the abundant auriferous quartz-veins and to intersect the boundary between the saprolite and sulphides at depth.

The results confirm the interpretation that the shear zone at the Gosso target may be mineralized in a similar fashion to the Kobada shear zone. Grab sample results ranging from 0.5 to 4.6 g/t Au tested in Q1-2020 from the Gosso target (see press release from April 30, 2020) have now been confirmed to host structural mineralization of gold both at surface and at depth. A total of 522 m has been drilled at Gosso so far with a confirmed strike length of the shear zone of approximately 750 m trending in a north-north-easterly direction.

“We are very happy to have confirmed the prolific nature of the Gosso shear, an initial strike length of 750 m, which is just the beginning, and its gold mineralisation on surface as well as at depth,” says Dr. Andreas Rompel, Vice President Exploration. “Furthermore, the presence of saprolite down to more than 100 m in depth confirms the characteristics of the Gosso target may be very similar to the Kobada main shear zone with regard to its potential for mining.”

Figure 1: Kobada and Faraba concessions

Phase 3 Drilling Program

In September

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