TSX-listed exploration and development company African Gold Group reveals exceptional high-grade intersections at its Kobada gold project in Mali.
The Kobada project is an advanced gold project located about 125 km south south west of Bamako, the capital city of Mali. It is a near-surface gold project that has a global resource base of over 2.2 Moz of gold.
The company said that results to date have returned better than expected grades in the central shear zone and support its belief that there is upside potential at the Kobada gold project.
“The additional high-grade intersections are raising our confidence in the Kobada gold project”, said Dr. Andreas Rompel, VP for exploration. “We are very excited with the results from the Phase 1 drilling programme as it provides us with confirmation of a likely larger and higher grade deposit.”
He added that the outstanding results to date confirm management’s belief that the deposit at the project is larger, with greater thicknesses than suggested in the feasibility study undertaken in 2016.
The Phase 1 drilling campaign, which focused on confirming and upgrading the confidence level of the resource, clearly indicates a strong correlation to the geological model in the 2016 feasibility study. In addition, better than expected drilling results and an updated understanding of the structural geology and mineralization model of the deposit will further reinforce the updated resource model due in January 2020.
The Phase 2 drilling campaign has commenced, progressing to the north, and aims to extend the resource northward. Continuing mineralisation north of the central zone is expected to further confirm our view that the Kobada project is larger than previously suggested.