TORONTO, ONTARIO--(Marketwire - Nov. 23, 2010) - African Gold Group, Inc., (TSX VENTURE:AGG) ("AGG" or the "Company") is pleased to report that field work at AGG's Kobada, Mali gold project has resumed following the temporary closure of camp during the annual rainy season.
AGG's exploration team, led by AGG Director, Pierre Lalande, P. Geo., a veteran with over 35 years exploration experience in the West African region and Dr. Kevin Downing, Sr. Structural Geologist, are setting the stage for the most aggressive exploration and development program in the Company's history.
The balance of AGG's 2010 exploration program is being guided and driven by the excellent results that have been generated by the pre-rainy season (January - July, 2010) drill program and reported between June 2010, through to the present.
Expansion Of Southern Step Out Region
Moving forward, AGG's initial focus will be to continue to expand upon and develop the southern step out holes that are up to 200 meters south of the southern portion of the mineralized envelope that contains AGG's 43-101 initial resources estimate of approximately 740,000 oz's Au at an average grade of 1.25 g/t Au. These holes were reported in two separate press releases dated August 31, 2010 and November 16, 2010. Both releases can be reviewed by activating the following link: http://africangoldgroup.com/index.php?option=com_content&view=category&id=47&Itemid=100.
Highlight Intercepts from the southern step out holes include:
RPA10-008A: 102 m @ 1.00 g/t Au, hole ended in Mineralization
RPA10-008: 45 m @ 1.57 g/t Au
RPA10-003: 44m @ 2.11 g/t Au, includes 3m @ 19.30 g/t Au, hole ended in
RPA10-005: 37m @ 1.47 g/t Au, includes 5m @ 7.48 g/t Au, hole ended in
RPA10-006: 26m @ 1.09 g/t Au, hole ended in mineralization
The southern step out region is clearly open at depth, as indicated in the highlight holes above ending in mineralization and perhaps more importantly, to the south and west of current drill holes recently reported.
A hydraulic excavator is currently onsite at Kobada, Mali and engaged in the excavation of several trenches. These trenches will measure between 200 meters and 300 meters in length and average between two and three meters in depth. Trenches will be spaced approximately 200 meters apart and extend up to one kilometer south of the drill holes reported on section 2800S, which is 200 meters south of the southern most extent of the 43-101 mineralized envelope that contains AGG's 43-101 initial resources estimate.
Samples from the trench program will be delivered to Bamako, Mali for 50 g fire assay analysis. It is anticipated that sample analysis will be reported by ALS Chemex within two to three weeks of delivery of the samples, or before year end.
Expansion Of Northern Zone 1 Step Out Region
An auger drill is enroute to Kobada, Mali and will focus on drilling holes that will average approximately 30 vertical meters from surface to test and delineate the extent of gold mineralization in the northern region(s) of Kobada, Zone 1. The auger drill program is intended to refine drill targets, as economically as possible, as a prelude to resource drilling with a reverse circulation (RC) drill rig. It is envisioned that the auger drill program will comprise multi hole fences drilled perpendicular to the Kobada structure over approximately 4 kms of strike length.
Expansion of Foroko North Step Out Region
On October 14, 2010 AGG announced step out drilling yielded the discovery of a new gold zone located 4.3 km north of Zone 1, at Kobada, Mali. (www.africangoldgroup.com).
Highlight intercepts from the Foroko North step out holes include:
KBRC10-034: 23m @ 2.10 g/t Au
KBRC10-037: 10m @ 0.92 g/t Au
KBRC10-038: 53m @ 1.33 g/t Au and 9m @ 5.78 g/t Au, includes 1m @ 46.86 g/t
KBRC10-047: 16m @ 0.91 and 62m @ 1.04 g/t Au
The auger drill program is intended to include multi hole fences across the newly discovered Foroko North region. It is important to note that field reconnaissance of the Foroko North zone indicates a north south structure that measures approximately 4 kms in length. To date, AGG has proven gold mineralization over 800 meters of the 4 kms of potential strike. The auger drill program is intended to refine drill targets, as economically as possible, over the entire 4 km of strike contained within the Foroko North region as a prelude to resource drilling with an RC rig.
"The balance of our 2010 program will set the stage for the most aggressive field program in our corporate history, commencing January, 2011. We have proven conclusively that Kobada's potential clearly exceeds its current status as our 2010 program has intercepted new zones of gold mineralization to the north and south, with many holes ending in mineralization. Additional targets, generated by our 2010 airborne geophysical survey are the subject of ongoing geochemical surveys, with follow up drilling planned to test all pending anomalies. We have a growing conviction that Kobada will one day be a producing mine and a serious money maker at that," states AGG President and Director, Michael A. Nikiforuk.
African Gold Group, Inc., based in Toronto, Canada, is engaged in the identification, acquisition and exploration of prospective gold projects that are situated along significant gold trends within West Africa. To date, the Company controls a total of twelve gold concessions that are consolidated in five distinct standalone exploration projects, of which three projects are located in Ghana and the remaining two are located in Mali, West Africa.
Additional Information is available on the Company's website at www.africangoldgroup.com and on www.sedar.com and through the Company's offices at: Sun Life Financial Tower, Suite 2518, 150 King St. West, Toronto, Canada M5H 1J9.
On Behalf of the Board:
Michael A. J. Nikiforuk, President, DirectorThe TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.