African Gold Group, Inc: 48 Metres of 2.95 g/t Au Including 19.20 Metres of 5.91 g/t Au Confirms Gold Discovery at Kobada, Mali.TORONTO -- African Gold Group, Inc., ("AGG AGG Aggregate AGG Allgemeines Gleichbehandlungsgesetz AGG African Gold Group, Inc. AGG Arnall Golden Gregory LLP (Atlanta, GA) AGG Aggravated AGG Asociación de Gerentes de Guatemala " or "The Company") (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:AGG) is pleased to report the results from the initial six holes drilled on the Kobada Gold Project in Mali, West Africa West Africa A region of western Africa between the Sahara Desert and the Gulf of Guinea. It was largely controlled by colonial powers until the 20th century. West African adj. & n. . Importantly, this drill campaign has extended the gold mineralization Mineralization The process by which the body uses minerals to build bone structure. Mentioned in: Rickets mineralization, n the bioprecipitation of an inorganic substance. through the 125 metre metre In poetry, the rhythmic pattern of a poetic line. Various principles have been devised to organize poetic lines into rhythmic units. Quantitative verse, the metre of Classical Greek and Latin poetry, measures the length of time required to pronounce syllables, saprolite sap·ro·lite n. Soft, partially decomposed rock rich in clay and remaining in its original place. saprolite horizon into bedrock. The 41 sq. km Kobada concession is located in the Kangaba region of Mali. It hosts a significant anomaly Abnormality or deviation. Pronounced "uh-nom-uh-lee," it is a favorite word among computer people when complex systems produce output that is inexplicable. See software conflict and anomaly detection. that is defined by 12 kilometres of strike length with a corresponding width of 1 kilometre. This anomaly has greater than 500 ppm (Pages Per Minute) The measurement of printer speed. See gppm. PPM - Portable Pixmap Arsenic-in-soil geochemistry geochemistry, study of the chemical changes on the earth. More specifically, it is the study of the absolute and relative abundances of chemical elements in the minerals, soils, ores, rocks, water, and atmosphere of the earth and the distribution and movement of with coincident co·in·ci·dent adj. 1. Occupying the same area in space or happening at the same time: a series of coincident events. See Synonyms at contemporary. 2. extensive artisanal surface, hardrock and placer mining placer mining: see mining. placer mining Oldest method of recovering gold from alluvial deposits. It takes advantage of gold's high density, which causes it to sink more rapidly from moving water than the lighter siliceous materials with which it is activity. Previous work on the concession, commencing in the 1980's, was undertaken by French exploration entities: BRGM BRGM Bureau de Recherches Géologiques et Minières (France) , La Source and Cominor (COGEMA COGEMA Compagnie Générale des Matières Nucléaires (The Hague) ). Their collective work comprised surface geochemical and geophysical surveys Geophysical survey refers to the systematic collection of geophysical data for spatial studies. Geophysical surveys may use a great variety of sensing instruments, and data may be collected from above or below the Earth's surface or from aerial or marine platforms. , 1,736 metres of AirCore drilling, 13,200 metres of RC drilling and 913.4 metres of diamond drilling Diamond Drilling is a highly specialized industry used for mineral exploration around the world. Most commonly using wireline and core bits with diamond encrusted matrix. To drill holes to max depths of twelve thousand feet, for the recovery of core used in verifying mineral . Their initial primary target within the 12 kilometres strike length that comprises the Kobada Trend has been a 1 kilometre zone of extensive artisanal hardrock mining activity referred to as Zone 1 (see attached maps). NOTE: There are 3 maps available for viewing at the following link - http://www.ccnmatthews.com/docs/agg0223.pdf Program Objectives AGG's initial exploration program at Kobada had two distinct objectives: 1. To verify and confirm the historical exploration work undertaken by Cominor. This verification was conducted in two ways: A. Three RC holes previously drilled by Cominor were twinned with AGG diamond drill holes to test the nature of the mineralization. Cominor holes, KBRC-56 and KBRC-127, located on section 2200 S and KBRC-126, located on section 2300 S, were selected to be twinned for both the length and grade of their respective intercepts. B. Resample and analyze for gold, the rejects from two RC drill holes completed by Cominor (KBRC KBRC Kalgoorlie-Boulder Racing Club (Australia) 126 & KBRC127). 2. The second objective of AGG's diamond drilling program was to test the mineralization to depth and to obtain samples of previously untested bedrock mineralization below the saprolite horizon (holes KB05-3 & KB05-5). In addition, hole KB05-6 was drilled oblique o·blique adj. Situated in a slanting position; not transverse or longitudinal. oblique slanting; inclined. to the section in anticipation of the existence of newly interpreted mineralized min·er·al·ize v. min·er·al·ized, min·er·al·iz·ing, min·er·al·iz·es v.tr. 1. To convert to a mineral substance; petrify. 2. To transform a metal into a mineral by oxidation. 3. cross structures. Results and Analysis Results from AGG's 6 diamond drill hole campaign, totaling 1,033 metres, are shown in Table 1 below. All samples from AGG's diamond drill program were analyzed an·a·lyze tr.v. an·a·lyzed, an·a·lyz·ing, an·a·lyz·es 1. To examine methodically by separating into parts and studying their interrelations. 2. Chemistry To make a chemical analysis of. 3. by Eco-Tech Laboratory of Kamloops, Canada. Samples returning greater than 300 ppb ppb abbr. parts per billion Au were fire assayed.
TABLE 1 RESULTS FROM AGG's 2005 DIAMOND DRILLING CAMPAIGN
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From To Interval Au Ag
HOLE -------------------------------------------------------
NUMBER m M m g/t g/t
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KB05-1(i) TWIN 36.00 42.00 6.00 2.93
KB05-1(i) 85.50 105.00 19.50 0.29
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KB05-2(i) TWIN 51.00 72.55 21.55 1.11
KB05-2(i) incl. 51.00 60.40 9.40 1.20
KB05-2(i) 120.50 122.50 2.00 0.75 38.7
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KB05-3 BEDROCK 106.50 144.00 37.50 1.23
KB05-3 incl. 106.50 111.00 4.50 3.91
KB05-3 126.00 129.00 3.00 4.40 6.1
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KB05-4(i) TWIN 52.50 100.50 48.00 2.95
KB05-4(i) incl. 81.30 100.50 19.20 5.91
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KB05-5 BEDROCK 112.50 151.00 38.50 1.58
KB05-5 incl. 136.00 148.00 12.00 3.50
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KB05-6 BEDROCK 115.00 132.00 17.00 0.82
KB05-6 incl. 116.00 123.70 7.70 1.31
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(i) represent diamond drill holes that twinned Cominor RC drill
holes.
Due to the possible coarseness Coarseness Billingsgate site of a London fishmarket, known for foul and abusive language. [Br. Hist.: Brewer Dictionary, 106] Branghtons, the Evelina’s rude, coarse cousins. [Br. Lit. of gold in drill core, metallic fire assay was undertaken on selected samples. The selected samples that were tested in this manner, demonstrated an increase in gold values. As a result of the increase in gold values from these selected samples AGG has requested all samples returning greater than 1 g/t Au that have not yet been subjected to metallic fire assay, be tested utilizing this process. These results will be disseminated disseminated /dis·sem·i·nat·ed/ (-sem´i-nat?ed) scattered; distributed over a considerable area. dis·sem·i·nat·ed adj. Spread over a large area of a body, a tissue, or an organ. in a subsequent release, due to the time required to complete the tests, if material. Results from historical RC drilling by Cominor along sections 2200S and 2300S are shown in Table 2 below. The samples from Cominor's RC drilling program were analyzed by AbilabAfrique de l'Ouest SARL SARL South African Radio League SARL Société Anonyme à Responsabilité Limitée (French: limited liability company) SARL Salem Animal Rescue League (Salem, NH) SARL Sociedade Anónima de Responsabilidade Limitada , located in Bamako, Mali.
TABLE 2 RESULTS FROM COMINOR'S PREVIOUS RC DRILL CAMPAIGNS
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SECTION DRILLHOLE FROM TO INTERVAL Au
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m m m g/t
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2200 S KBRC055 66 67 1 0.41
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KBRC056(ii) 7 25 18 0.83
KBRC056(ii) incl. 7 15 8 1.09
KBRC056(ii) 50 75 25 8.41
KBRC056(ii) incl. 54 67 13 12.82
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KBRC057 8 10 2 1.19
KBRC057 36 42 6 2.54
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KBRC127(ii) 66 90 24 2.50
KBRC127(ii) incl. 66 77 11 4.80
KBRC127(ii) 83 90 7 0.75
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2300 S KBRC051 43 55 12 1.20
KBRC051 60 75 15 0.79
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KBRC052 35 50 15 4.37
KBRC052 incl. 35 39 4 15.19
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KBRC053 1 14 13 3.46
KBRC053 incl. 7 14 7 4.49
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KBRC054 40 46 6 1.09
KBRC054 60 64 4 0.98
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KBRC126(ii) 51 59 8 2.21
KBRC126(ii) 69 71 2 3.55
KBRC126(ii) 80 94 14 1.89
KBRC126(ii) incl. 83 93 10 2.47
KBRC126(ii) 100 105 5 4.48
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(ii) Cominor Holes twinned by AGG diamond drill holes.
"The results illustrated in both Tables 1 and 2 provide AGG with the confidence to move aggressively with the development of the Kobada Gold Project, not only along the initially targeted 1 kilometre strike length within Zone 1 of the concession, but also along the entire 12 kilometres strike length that comprises the Kobada Trend. AGG has successfully demonstrated oxide oxide, chemical compound containing oxygen and one other chemical element. Oxides are widely and abundantly distributed in nature. Water is the oxide of hydrogen. Silicon dioxide is the major component of sand and quartz. gold mineralization to a depth of approximately 125 vertical metres in saprolite, and furthermore have extended the gold mineralization an additional 25 metres into bedrock. The bedrock mineralization is characterized char·ac·ter·ize tr.v. character·ized, character·iz·ing, character·iz·es 1. To describe the qualities or peculiarities of: characterized the warden as ruthless. 2. by intense veining/silification and disseminated arsenopyrite arsenopyrite (är'sĭnōpī`rīt, ärsĕn`ō–) or mispickel (mĭs`pĭkəl), silver-white to steel-gray mineral with the metallic luster characteristic of a pyrite. in intercalated in·ter·ca·lat·ed adj. Inserted between two others; interposed. in·ter  ca·late argillites and greywackes and remains open to depth. As previously
stated, the thickness of the saprolite horizon bodes well for
demonstrating the potential for a low cost surface deposit that will
ideally compliment the deeper resource potential. The occurrence of
very high grades of gold along with the presence of free gold
strengthens the economic potential of this mineralization. Results to
date emanate em·a·nate intr. & tr.v. em·a·nat·ed, em·a·nat·ing, em·a·nates To come or send forth, as from a source: light that emanated from a lamp; a stove that emanated a steady heat. from within approximately 200 metres of the 1 kilometre primary target (Zone 1) and indicates a broad zone averaging 30 metres in width with an associated grade averaging between 1.0 and 3.0 grams per tonne tonne measure of weight or mass; 1 tonne=1000 kg. See also ton. . Furthermore, we are encouraged by the identification of mineralized cross structures intersected in KB05-6, which further adds to the broader potential of this new gold trend," states Greg Hawkins Gregory Dale Hawkins was a trader and principal in the hedge fund Long-Term Capital Management that after four spectacularly successful years lost most of its clients' money in 1998 when the Russian government defaulted on its debt payments on August 17, 1998, triggering a , P. Geo., Technical Director, AGG. As per AGG's technical objective as stated in 1(A) above: A comparison of results derived from twinning three of Cominor's original RC drill holes with AGG diamond drill holes, to confirm the presence of gold mineralization, are shown in Table 3, below.
TABLE 3 MINERALIZED INTERSECTION RESULTS FROM THE RC/DIAMOND
DRILL TWINNING CAMPAIGN
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From To Interval Au
DRILLHOLE SAMPLE ---------------------------------------
NUMBER TYPE M M m g/t
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KBRC127 RC 14.0 15.0 1.0 1.26
KB05-1 DDH 12.0 15.0 3.0 2.96
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KBRC127 RC 41.0 45.0 4.0 0.26
KB05-1 DDH 36.0 42.0 6.0 2.93
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KBRC127 RC 66.0 95.0 29.0 2.06
KB05-1 DDH 85.5 105.0 19.5 0.29
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KBRC056 RC 22.0 25.0 3.0 1.75
KB05-2 DDH 22.0 25.0 3.0 0.40
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KBRC056 RC 35.0 36.0 1.0 0.95
KB05-2 DDH 36.0 37.5 1.5 0.42
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KBRC056 RC 51.0 75.0 24.0 3.27
KB05-2 DDH 51.0 72.6 21.6 1.11
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KBRC126 RC 52.0 71.0 19.0 1.48
KB05-4 DDH 52.5 69.0 16.5 0.87
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KBRC126 RC 81.0 105.0 24.0 2.06
KB05-4 DDH 81.3 100.5 19.2 5.91
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"The diamond drill twinning campaign has enabled AGG to gain a greater degree of geological information than was generated through previous RC drilling. As illustrated in Table 3 above, results from twinning holes can vary. The comparison of results from different drilling techniques can be problematic in areas where there is groundwater inflow in·flow n. 1. The act or process of flowing in or into: an inflow of water; an inflow of information. 2. , in the case of RC drilling, and variable core recovery in the case of diamond drilling. Both of these conditions were encountered in the upper levels of Zone 1," states Greg Hawkins, P. Geo. Technical Director, AGG As per AGG's technical objective as stated in 1(B) above: Results derived from AGG's re-sampling of two of Cominor's RC drill holes are shown in Table 4, below. These Cominor RC drill pulp rejects were re-sampled and collected by AGG's technical personnel and re-assayed by AbilabAfrique de l'Ouest SARL.
TABLE 4 RE-ASSAY RESULTS FROM COMINOR RC DRILL PULPS
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COMINOR AGG
RC HOLE 2004 2005
NUMBER FROM TO INTERVAL AU AU
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(m) (m) (m) (g/t) (g/t)
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KBRC126 52 105 53 1.49 2.17
KBRC126 incl. 52 54 2 2.02 1.88
KBRC126 incl. 56 63 7 2.03 4.89
KBRC126 incl. 69 71 2 3.55 9.21
KBRC126 incl. 80 94 14 1.89 2.48
KBRC126 incl. 82 93 11 2.31 2.94
KBRC126 incl. 100 105 5 4.48 2.44
KBRC126 incl. 101 104 3 6.99 3.28
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KBRC127 14 15 1 1.26 3.78
KBRC127 66 69 3 11.06 12.13
KBRC127 73 77 4 4.77 3.35
KBRC127 incl. 73 74 1 16.99 8.40
KBRC127 83 84 1 2.21 3.24
KBRC127 89 90 1 1.28 2.20
KBRC127 116 117 1 2.87 4.29
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"Zone 1 appears to be characterized by significant coarse free gold which typically leads to a degree of variability in results when re-sampling drill pulps" (as illustrated in Table 4 above), added Hawkins. Ben Adoo, Chairman of AGG states, "We are extremely encouraged by the overall results of the initial program which confirms the potential for a significant gold discovery within Zone 1 of the Kobada project. Furthermore, we believe that the 12 kilometre Kobada Trend may represent a major new gold bearing structure in Mali, West Africa." The drilling program is under the supervision of Chrisropher Naas, P.Geo. of CME CME See: Chicago Mercantile Exchange CME See Chicago Mercantile Exchange (CME). & Company, a qualified person under NI 43-101. This press release has been reviewed and approved by Mr. Naas. African Gold Group, Inc., based in Toronto, Canada, is engaged in the identification, acquisition and exploration of prospective gold projects that are situated along significant gold trends within West Africa. To date, the Company controls a total of nine gold concessions that are consolidated in six separate standalone stand·a·lone adj. Self-contained and usually independently operating: a standalone computer terminal. gold exploration projects, of which three projects are located in Ghana and three projects are located in Mali, West Africa. Additional Information is available on the Company's website at www.africangoldgroup.com and on www.sedar.com and through the Company's offices at: BCE BCE abbr. 1. Bachelor of Chemical Engineering 2. Bachelor of Civil Engineering BCE Abbreviation for before the Common Era. Place, Canada Trust CT Financial Services Inc. was a financial services holding company that was founded in London, Ontario and later had its headquarters in Toronto, Ontario and operated in Canada through subsidiaries including Canada Trustco Mortgage Company and The Canada Trust Company Tower, 27th Floor, 161 Bay Street, Toronto, Canada M5J 2S1 On Behalf of the Board: Michael A. J. Nikiforuk President, Director The TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. has not reviewed and does not accept resp onsibility for the adequacy or accuracy of this release. African Gold Group, Inc. (TSX VENTURE:AGG) |
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