Highlights:
- Significant new drill intersects of the infill drilling at the main shear zone of the
Kobada Gold Project . Drilling highlights include:- 3.5 g/t Au over 14.0 m from 113.0 to 127.0 m (Drill hole KB20_PH4A_20)
- Including 38.20 g/t Au over 1.0 m and 3.09 g/t Au over 1.0 m
- 1.24 g/t Au over 11.0 m from 104.0 to 131.0 m (Drill hole KB20_PH4A_4)
- Including 8.92 g/t Au over 1.0 m
- 5.14 g/t Au over 1.65 m from 146.5 to 148.15 m (Drill hole KB20_PH4A_23)
- 3.5 g/t Au over 14.0 m from 113.0 to 127.0 m (Drill hole KB20_PH4A_20)
- The drill program has extended the depth of the oxide-sulphide boundary from an anticipated 110 m to a more realistic 180 m at the northern extensions of the main shear zone, representing ~60% increase.
- This has highlighted the continuity of the mineralization at depth beneath the current pit design and the presence of high grades to support potential future underground mining at Kobada.
- High grade gold mineralisation, plus numerous recent strong intersections consistently reported from outside the mineral resource estimate in the NI 43-101 Technical Report on
Kobada Gold Project datedJune 17, 2020 (the “2020 DFS”) will be incorporated in the next mineral resource estimate update on track for early 2021.
To date, the Company has drilled 6,258 metres of the combined
The Company`s key internal goal for Q1 2021 is to further demonstrate the considerable potential for increased resource base at the
“We are very pleased with the continued positive results at our flagship
Overview of Drilling Programme
The Company`s 2021 drilling programme is focused on the following targets:
- Increase resource from newly identified shear zones at Kobada, Faraba and Kobada Est concessions (Phase 3)
- Conversion of the inferred resources to measured and indicated category, with the goal of expanding the Reserve base to over 1 Moz (Phase 4)
- Strike extension of the main shear zone at Kobada concession (Phase 5)
The Company has completed its Phase 4A drilling aimed at upgrading the inferred resource in oxides at the northern extension of the current pit design at the
The Company intends to continue drilling for the northern strike extension of the highly prolific Kobada Shear (Phase 5
Drill rigs have been operating since early
The drilling campaign to upgrade a portion of the inferred oxide mineral resources is part of a three-phase drilling campaign. The objective of the current drilling campaign is to upgrade the inferred oxide resource to a higher confidence category, test the northern extension of the Kobada shear beyond the last known occurrence in the northern parts of the Kobada concession and the initial drill-testing of the neighbouring Gosso shear zone (see press release dated
Figure 1: Plan view of drilling campaign at Kobada. Solid lines represent holes drilled to date:
https://www.globenewswire.com/NewsRoom/AttachmentNg/2e358102-d58c-46f1-8364-7857ad372d80
In
The Company continues to advance the
About
Qualified Person
The scientific and technical information contained in this press release has been reviewed, prepared and approved by Dr.
For more information:
President and Chief Executive Officer
+(27) 76 411 3803
Danny.Callow@africangoldgroup.com
Non-Executive Chairman of the Board
(604) 722-5381
Scott.Eldridge@africangoldgroup.com
Daniyal Baizak
VP Corporate Development
(647) 835-9617
Daniyal.Baizak@africangoldgroup.com
Camarco (Financial PR)
+44 (0) 20 3757 4997
AfricanGoldGroup@camarco.co.uk
Cautionary statements
This press release contains “forwardlooking information” within the meaning of applicable Canadian securities legislation. Forwardlooking information includes, but is not limited to, statements regarding, the Company’s drilling and exploration programmes, expectations of increase in or conversion of resources and/or reserves at the
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE
Table 1: Assay results from the mineralized zone
Includes | ||||||||
BHID | From | To | Composite Length (m) | Composite Grade (g/t) | From | To | Includes (m) | Includes (g/t) |
KB20_PH4A_4 | 27.00 | 38.00 | 11.00 | 1.24 | 28.00 | 29.00 | 1.00 | 2.00 |
KB20_PH4A_4 | 29.00 | 30.00 | 1.00 | 1.49 | ||||
KB20_PH4A_4 | 36.00 | 37.00 | 1.00 | 8.92 | ||||
KB20_PH4A_15 | 84.00 | 87.00 | 3.00 | 0.82 | 85.00 | 86.00 | 1.00 | 1.46 |
KB20_PH4A_15 | 100.00 | 101.00 | 1.00 | 2.00 | 100.00 | 101.00 | 1.00 | 2.00 |
KB20_PH4A_15 | 124.00 | 140.00 | 16.00 | 0.82 | 124.00 | 125.00 | 1.00 | 7.57 |
KB20_PH4A_15 | 130.00 | 131.00 | 1.00 | 3.23 | ||||
KB20_PH4A_15 | 151.00 | 154.00 | 3.00 | 1.73 | 151.00 | 152.00 | 1.00 | 4.83 |
KB20_PH4A_17 | 59.00 | 60.00 | 1.00 | 1.53 | 59.00 | 60.00 | 1.00 | 1.53 |
KB20_PH4A_18 | 21.00 | 23.00 | 2.00 | 0.29 | ||||
KB20_PH4A_18 | 67.00 | 68.00 | 1.00 | 0.30 | ||||
KB20_PH4A_18 | 86.00 | 135.00 | 49.00 | 0.60 | 87.00 | 88.00 | 1.00 | 13.60 |
KB20_PH4A_18 | 114.00 | 115.00 | 1.00 | 1.18 | ||||
KB20_PH4A_18 | 123.00 | 124.00 | 1.00 | 5.26 | ||||
KB20_PH4A_19 | 24.00 | 28.00 | 4.00 | 1.03 | 25.00 | 26.00 | 1.00 | 2.87 |
KB20_PH4A_19 | 67.00 | 70.00 | 3.00 | 1.22 | 68.00 | 69.00 | 1.00 | 1.67 |
KB20_PH4A_19 | 69.00 | 70.00 | 1.00 | 1.44 | ||||
KB20_PH4A_19 | 101.00 | 102.00 | 1.00 | 1.30 | 101.00 | 102.00 | 1.00 | 1.30 |
KB20_PH4A_20 | 57.00 | 65.00 | 8.00 | 0.64 | 57.00 | 58.00 | 1.00 | 2.95 |
KB20_PH4A_20 | 113.00 | 127.00 | 14.00 | 3.50 | 113.00 | 114.00 | 1.00 | 3.09 |
KB20_PH4A_20 | 114.00 | 115.00 | 1.00 | 38.20 | ||||
KB20_PH4A_20 | 117.00 | 118.00 | 1.00 | 1.28 | ||||
KB20_PH4A_20 | 118.00 | 119.00 | 1.00 | 1.56 | ||||
KB20_PH4A_20 | 122.00 | 123.00 | 1.00 | 1.31 | ||||
KB20_PH4A_20 | 146.00 | 161.00 | 15.00 | 0.49 | 151.00 | 152.00 | 1.00 | 1.20 |
KB20_PH4A_20 | 154.00 | 155.00 | 1.00 | 1.21 | ||||
KB20_PH4A_20 | 156.00 | 157.00 | 1.00 | 1.02 | ||||
KB20_PH4A_22 | 18.00 | 19.00 | 1.00 | 0.41 | ||||
KB20_PH4A_22 | 65.00 | 74.00 | 9.00 | 0.31 | 65.00 | 66.00 | 1.00 | 1.36 |
KB20_PH4A_22 | 87.00 | 88.00 | 1.00 | 0.65 | ||||
KB20_PH4A_22 | 117.00 | 129.00 | 12.00 | 0.58 | 123.00 | 124.00 | 1.00 | 3.62 |
KB20_PH4A_22 | 124.00 | 125.00 | 1.00 | 1.10 | ||||
KB20_PH4A_22 | 137.90 | 163.00 | 25.10 | 0.67 | 137.90 | 139.34 | 1.44 | 1.28 |
KB20_PH4A_22 | 139.34 | 142.00 | 2.66 | 1.26 | ||||
KB20_PH4A_22 | 150.70 | 152.70 | 2.00 | 2.17 | ||||
KB20_PH4A_22 | 156.00 | 157.00 | 1.00 | 5.19 | ||||
KB20_PH4A_23 | 2.50 | 3.50 | 1.00 | 8.15 | 2.50 | 3.50 | 1.00 | 8.15 |
KB20_PH4A_23 | 54.80 | 55.90 | 1.10 | 6.56 | 54.80 | 55.90 | 1.10 | 6.56 |
KB20_PH4A_23 | 60.90 | 86.00 | 25.10 | 0.37 | 67.80 | 69.00 | 1.20 | 1.49 |
KB20_PH4A_23 | 84.85 | 86.00 | 1.15 | 2.51 | ||||
KB20_PH4A_23 | 146.50 | 148.15 | 1.65 | 5.14 | 146.50 | 148.15 | 1.65 | 5.14 |
Cumulative Mineralization Widths
BHID | Cumulative Mineralization Width (m) | Mean Grade (g/t) |
KB20_PH4A_4 | 11.00 | 1.24 |
KB20_PH4A_15 | 23.00 | 0.99 |
KB20_PH4A_17 | 1.00 | 1.53 |
KB20_PH4A_18 | 52.00 | 0.58 |
KB20_PH4A_19 | 8.00 | 1.13 |
KB20_PH4A_20 | 37.00 | 1.66 |
KB20_PH4A_22 | 48.10 | 0.58 |
KB20_PH4A_23 | 28.85 | 1.15 |
Significant Intersections (above 1 g/t Au)
BHID | From | To | Intersection Length (m) | Au_Final (g/t) |
KB20_PH4A_4 | 28.00 | 29.00 | 1.00 | 2.00 |
KB20_PH4A_4 | 29.00 | 30.00 | 1.00 | 1.49 |
KB20_PH4A_4 | 36.00 | 37.00 | 1.00 | 8.92 |
KB20_PH4A_15 | 85.00 | 86.00 | 1.00 | 1.46 |
KB20_PH4A_15 | 100.00 | 101.00 | 1.00 | 2.00 |
KB20_PH4A_15 | 124.00 | 125.00 | 1.00 | 7.57 |
KB20_PH4A_15 | 130.00 | 131.00 | 1.00 | 3.23 |
KB20_PH4A_15 | 151.00 | 152.00 | 1.00 | 4.83 |
KB20_PH4A_17 | 59.00 | 60.00 | 1.00 | 1.53 |
KB20_PH4A_18 | 87.00 | 88.00 | 1.00 | 13.60 |
KB20_PH4A_18 | 114.00 | 115.00 | 1.00 | 1.18 |
KB20_PH4A_18 | 123.00 | 124.00 | 1.00 | 5.26 |
KB20_PH4A_19 | 25.00 | 26.00 | 1.00 | 2.87 |
KB20_PH4A_19 | 68.00 | 69.00 | 1.00 | 1.67 |
KB20_PH4A_19 | 69.00 | 70.00 | 1.00 | 1.44 |
KB20_PH4A_19 | 101.00 | 102.00 | 1.00 | 1.30 |
KB20_PH4A_20 | 57.00 | 58.00 | 1.00 | 2.95 |
KB20_PH4A_20 | 113.00 | 114.00 | 1.00 | 3.09 |
KB20_PH4A_20 | 114.00 | 115.00 | 1.00 | 38.20 |
KB20_PH4A_20 | 117.00 | 118.00 | 1.00 | 1.28 |
KB20_PH4A_20 | 118.00 | 119.00 | 1.00 | 1.56 |
KB20_PH4A_20 | 122.00 | 123.00 | 1.00 | 1.31 |
KB20_PH4A_20 | 151.00 | 152.00 | 1.00 | 1.20 |
KB20_PH4A_20 | 154.00 | 155.00 | 1.00 | 1.21 |
KB20_PH4A_20 | 156.00 | 157.00 | 1.00 | 1.02 |
KB20_PH4A_22 | 65.00 | 66.00 | 1.00 | 1.36 |
KB20_PH4A_22 | 123.00 | 124.00 | 1.00 | 3.62 |
KB20_PH4A_22 | 124.00 | 125.00 | 1.00 | 1.10 |
KB20_PH4A_22 | 137.90 | 139.34 | 1.44 | 1.28 |
KB20_PH4A_22 | 139.34 | 142.00 | 2.66 | 1.26 |
KB20_PH4A_22 | 150.70 | 152.70 | 2.00 | 2.17 |
KB20_PH4A_22 | 156.00 | 157.00 | 1.00 | 5.19 |
KB20_PH4A_23 | 2.50 | 3.50 | 1.00 | 8.15 |
KB20_PH4A_23 | 54.80 | 55.90 | 1.10 | 6.56 |
KB20_PH4A_23 | 67.80 | 69.00 | 1.20 | 1.49 |
KB20_PH4A_23 | 84.85 | 86.00 | 1.15 | 2.51 |
KB20_PH4A_23 | 146.50 | 148.15 | 1.65 | 5.14 |
Figure 1
![](https://ml.globenewswire.com/media/2e358102-d58c-46f1-8364-7857ad372d80/medium/figure-1.jpg)
Plan view of drilling campaign at Kobada. Solid lines represent holes drilled to date.
2021 GlobeNewswire, Inc., source