African Gold Group, Inc.: Mankraho Project Update-Drill Holes 1 Through 12 Intersect Gold Mineralized Zones.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 ") (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 of diamond drill holes 1 through 12 of AGG's Phase 1 exploration program at the Mankranho concession, located in Ghana, 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. . Following the receipt of check analyses and further new results for holes 6, 9, 10, 11 & 12 from Eco-Tech Laboratories of Kamloops, Canada, an updated table of significant results for diamond drill holes 1 through 12 is presented below. All drill results represent analysis performed by Eco-Tech Laboratories.(i) Highlights AGG is encouraged by the results from the Phase 1 drilling program on the Mankranho concession within Area I. In particular:
- Area I, North: widths up to 18.62 metres at 1.25 g/t gold;
- Area I, South: widths up to 15.98 metres of 1.86 g/t gold; and
widths up to 5.35 metres of 2.22 g/t gold
The Mankranho concession is located at the north-eastern end of the Sefwi Gold Belt in Ghana and lies along strike and contiguous to Newmont Mining Newmont Mining Corporation NYSE: NEM, based in Denver, Colorado, USA, is one of the world's largest producers of gold, with active mines in, Nevada, Indonesia, Australia/New Zealand, Ghana, and Peru. Some smaller operations include Bolivia, Mexico, and Canada. Corp.'s ("Newmont") 9.1 Moz Ahafo gold project, where production has been scheduled for Q2, 2006. The Mankrahno concession has been subdivided into four separate areas (Area's I, II, III and IV) based on historical and/or current soil sampling, pitting, trenching, ground magnetic and IP geophysics geophysics, study of the structure, composition, and dynamic changes of the earth, its atmosphere, hydrosphere and magnetosphere, based on the principles of physics. (see attached map). Mr. 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., a director of AGG, states that, "the continuity of mineralised sections along strike and to depth is very encouraging and results support the notion of fold and fault controlled gold. Although much needs to be done to fully understand what controls the economic concentrations, the broad widths of 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. , isolated high-grade gold veins and numerous occurrences of visible gold all support the expectation of developing the broad economic grades encountered in the same geologic environments by Newmont at their Ahafo project, to our south." AREA I All of Phase 1 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 was concentrated within a region of Area I, ranging from approximately 1 kilometre and up to 3.5 kilometres north of the Newmont border and lying along strike of the Ahafo 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. trend. These initial diamond drill holes were selected in order to gain a better understanding of: - The geological signature of the region; - The orientation of the geological structure; and - The geological features that control mineralization in the region. To date 24 diamond drill holes, targeting three distinct gold-in-soil anomalies within Area I (see map) have been completed, totaling 6,445 metres. Complete results from all mineralized zones in holes 1 through 12 comprise the subject of this press release. The Company anticipates reporting complete results from all mineralized zones in holes 13 through 24 during the week of November 15, 2004. As detailed in AGG's press release dated September 20th, 2004, the broad, lower grade gold-bearing zones intersected in Area I occur typically within tuffs and argillites exhibiting ductile ductile /duc·tile/ (duk´til) susceptible of being drawn out without breaking. duc·tile adj. Easily molded or shaped. ductile susceptible of being drawn out without breaking. deformation deformation /de·for·ma·tion/ (de?for-ma´shun) 1. in dysmorphology, a type of structural defect characterized by the abnormal form or position of a body part, caused by a nondisruptive mechanical force. 2. . Data from the initial drilling (i.e., core orientation data) in addition to newly acquired geophysics and satellite remote sensing Deriving digital models of an area on the earth. Using special cameras from airplanes or satellites, either the sun's reflections or the earth's temperature is turned into digital maps of the area. data will greatly assist in a more detailed structural interpretation. The results of this exercise will be utilized to focus future drilling on the identification and delineation of brittle deformation structures which commonly host the majority of lode gold deposits in the Ahafo area (i.e., large scale faults, extensive shear zones or fold hinges Hinges may refer to:
Area I - North Area I North is located in the northeastern region of Area I (refer to map). Six drill holes tested 200 metres of strike under trenches T5 (historic results included 1,321 ppb ppb abbr. parts per billion gold over 12 metres) and T6 (historic results included 1,062 ppb gold over 21 metres). Quartz veining vein·ing n. Distribution or arrangement of veins or veinlike markings. and pyrite pyrite (pī`rīt) or iron pyrites (pīrī`tēz, pə–, pī`rīts), pale brass-yellow mineral, the bisulfide of iron, FeS2. +/- 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. mineralization is hosted within welded lithic/crystal tuffs characterized by blue quartz eyes. Zones of jasper/K-spar inter-banded with up to 30% magnetite magnetite (măg`nətīt), lustrous black, magnetic mineral, Fe3O4. It occurs in crystals of the cubic system, in masses, and as a loose sand. and thin (less than 1m) quartz-feldspar porphyry Porphyry, Greek scholar Porphyry (pôr`fĭrē), c.232–c.304, Greek scholar and Neoplatonic philosopher. He studied rhetoric under Cassius Longinus and philosophy under Plotinus. sills Sills , Beverly Originally Belle Silverman. Born 1929. American operatic soprano and manager who joined the New York City Opera in 1953 and was its general director from 1980 to 1989. Noun 1. were also encountered. Gold mineralization in Area I North appears to be associated with multi-phase quartz veining including vein swarms/quartz flooding +/- carbonate, disseminated fine-grained pyrite, thin shear zones, and quartz-sericite-pyrite alteration zones. Significant Intersections: Area I - North
Section 129+00E
Trench 5: 0.74 g/t Au over 31 metres, including 1.32 g/t Au over 12
-------- metres
---------------------------------------------------------------------
Interval (m)
Hole -------------------------- Au (g/t)
From To Length
---------------------------------------------------------------------
---------------------------------------------------------------------
MN04-08 125.20 134.00 8.80 1.28
incl 132.50 134.00 1.50 5.21
---------------------------------------------------------------------
MN04-09 141.32 160.33 19.01 0.68
incl 147.30 151.80 4.50 1.5
---------------------------------------------------------------------
MN04-11 235.00 236.50 1.50 4.52
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Section 130+00E
Trench 6: 1.06 g/t Au over 16 metres, including 1.88 g/t Au over 11
-------- metres
---------------------------------------------------------------------
Interval (m)
Hole -------------------------- Au (g/t)
From To Length
---------------------------------------------------------------------
---------------------------------------------------------------------
MN04-02 74.65 93.27 18.62 1.25
incl 74.65 78.03 3.38 2.57
and 88.20 89.37 1.17 5.54
---------------------------------------------------------------------
MN04-04 91.08 92.58 1.50 1.16
146.75 149.70 2.95 0.53
---------------------------------------------------------------------
MN04-05 123.00 124.50 1.50 1.64
165.80 167.30 1.50 1.02
---------------------------------------------------------------------
Area I - South Area I South is located in the southwestern extent of Area I (refer to map). Six drill holes drilled under two trenches (T10 and T17) testing over 200 metres of strike length. Broad mineralized gold zones up to 17.97 metres in width are hosted within volcanoclastics and zones of graphitic and magnetite-rich argillites. Gold-bearing quartz veining and sulphide sulphide: see sulfide. mineralization is commonly characterized by strong sericite Ser´i`cite n. 1. (Min.) A kind of muscovite occuring in silky scales having a fibrous structure. It is characteristic of sericite schist. alteration and magnetite destruction. Significant selected intersections from Area I South (complete results) include: Significant Intersections: Area I - South
Section 114+00E
Trench 17: 0.63 g/t Au over 17 metres
---------
---------------------------------------------------------------------
Interval (m)
Hole -------------------------- Au (g/t)
From To Length
---------------------------------------------------------------------
---------------------------------------------------------------------
MN04-01 62.55 72.91 10.36 0.98
incl 64.35 68.88 4.53 1.46
91.80 100.85 9.05 0.54
126.10 134.49 8.39 0.4
---------------------------------------------------------------------
MN04-03 60.50 76.48 15.98 1.86
101.15 108.83 7.68 0.69
133.20 151.17 17.97 0.93
incl 133.20 138.55 5.35 2.22
---------------------------------------------------------------------
MN04-06 71.54 88.13 16.59 0.56
76.01 79.05 3.04 1.18
101.76 104.70 2.94 1.81
131.16 132.77 1.61 1.46
150.70 152.23 1.53 1.93
---------------------------------------------------------------------
Section 116+00E
Trench 10: 1.86 g/t Au over 26 metres, including 4.30 g/t Au over 10
--------- metres
---------------------------------------------------------------------
Interval (m)
Hole -------------------------- Au (g/t)
From To Length
---------------------------------------------------------------------
---------------------------------------------------------------------
MN04-07 64.98 67.87 2.89 0.75
134.73 150.88 16.15 0.64
incl 137.65 146.42 8.77 0.84
---------------------------------------------------------------------
MN04-10 98.59 99.75 1.06 1.16
108.51 111.56 3.05 2.61
132.58 149.37 16.79 0.36
---------------------------------------------------------------------
MN04-12 155.95 159.48 3.53 2.53
205.80 217.80 12.00 0.51
---------------------------------------------------------------------
This press release has been reviewed and approved by Christopher O. Naas, P. Geo., a Qualified Person. (i) Trench data in this release is from assay results provided by Eco-Tech Laboratories of Kamloops, Canada, SGS SGS Société Générale de Surveillance SGS Symantec Gateway Security (appliance) SGS School of Graduate Studies SGS Subgrid Scale SGS Singapore Government Securities SGS Shell Global Solutions Laboratory Services of Tarkwa, Ghana Tarkwa is a town in the southwest of Ghana, located about 120 miles west of Accra. As of 2005, it was estimated to have a population of 40,397. Transport Tarkwa is a junction on the Ghanaian Railways. and Transworld Laboratories, also of Tarkwa, Ghana. African Gold Group, Inc., based in Toronto, is engaged in the identification, acquisition and exploration of prospective gold projects situated along significant gold trends in Ghana, West Africa. The Company's immediate focus is to systematically explore both surface and in particular, subsurface sub·sur·face adj. Of, relating to, or situated in an area beneath a surface, especially the surface of the earth or of a body of water. Adj. 1. targets along three major gold trends: the Sefwi, Asankrangwa and Ashanti Gold Belts. On Behalf of the Board: Kevin J. van Niekerk President and Chief Executive Officer ------------------------------------- BCE Place, Canada Trust Tower, 27th Floor, 161 Bay Street, Toronto, Canada M5J 2S1 e.mail: info@africangoldgroup.com website: www.africangoldgroup.com NOTE: To view a Compilation Map of the Mankranho Concession, please click on the following link: http://www2.cdn-news.com/database/fax/2000/agg1109.pdf 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 responsibility for the adequacy or accuracy of this release. |
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