African Gold Group, Inc., (TSX-V: AGG; OTC: AGGFF) annouced today that auger drilling at it’s Kobada gold discovery in Mali, Africa has intercepted highly anomalous gold values located on Section 700S. Section 700S represents a 400 meter step-out to the north of the 43-101 inferred resource estimate that contains AGG’s Zone 1 gold deposit. The anomaly is clearly intercepted by projecting the orientation of the Zone 1 deposit 400 meters north, along strike, through Section 700S. AGG interprets the interception of the anomaly on Section 700S as escalating the potential for extending the Zone 1 deposit a further 400 meters north, along strike.
In the release, African Gold Group President, Michael A. Nikiforuk stated “We reiterate our comments contained within our November 15, 2011 press release, that being, we are most encouraged by the significant gold anomaly generated on Section 700S by our auger drill program. We have no doubt that our Zone 1, 43-101 resource holds the potential to extend up to an additional 400 meters north of the current boundary located on Section 1100S. Our near term goal is to include the potential tonnes and ounces of Au contained within this area. Of even greater significance is the blue sky potential that is being amply demonstrated by the mineralized intercepts encountered as much as 1.5 km north of our resource’s current northern boundary. We remain open along strike, in both directions and at depth. We have encountered new discovery zones at Foroko North, Gosso and the Termite Zone. We have drill tested less than three per cent of our 218 sq km footprint and are confident that Kobada will continue to grow.”