African Gold Group (OTC Other: AGGFF; TSX-V: AGG) has completed 17 near surface (oxide), reverse circulation (RC), step-out drill holes, from the Company’s Kobada, Mali gold project. All 17 step-out drill holes were collared approximately 5 kilometers south-east of the Zone 1 deposit. The drill holes being reported in this release represent the first drilling ever undertaken in this area of the Kobada gold project. AGG has named this new gold discovery zone the Gossokorodji (“Gosso”) Target.
Near Surface (Oxide) Drill Highlights From the Gosso Step-Out Holes Include:
- In drill hole KBRC11-138, 15 meters of 0.62 g/t gold;
- In drill hole KBRC11-140, 42 meters of 1.50 g/t gold, including 1 meter of 11.82 g/t gold;
- In drill hole KBRC11-142, 4 meters of 2.34 g/t gold; and
- In drill hole KBRC11-134, 28 meters of 0.67 g/t gold.
According to Michael Nikiforuk, President of African Gold, “Our team is extremely encouraged with the results of our “wildcat” step-out drilling at Gossokorodji. As previously stated, the “Gosso” target evolved from our 2010 airborne survey that was flown over the entire Kobada footprint. Gosso represents one of seven geophysical targets that exhibit geophysical characteristics that are similar to the Zone 1 deposit. Six of the target areas have coincident radiometric potassium anomalies interpreted as granitoid intrusions with hydrothermal alteration. All of the target areas have shown evidence of historical and/or current artisanal mining. To date, we have drill tested two of the seven geophysical targets: Foroko North, located 4.3 km’s north of the Zone 1 deposit, resulting in the discovery of a new gold zone announced on October 14, 2010 and now Gosso, located approximately 5 km’s south-east of the Zone 1 deposit.”