African Gold Group Inc (CVE:AGG) revealed new drill results on Tuesday that confirmed gold mineralization along the Gosso shear zone at the Kobada gold project in Mali.
Diamond drilling at Gosso showed a highly mineralized gold ore body with similar characteristics to the parallel Kobada shear zone, which boasts a total resource of 2.3 million ounces over a four-kilometre strike length.
In a statement, Toronto-based African Gold Group called the results “promising” and in line with the goal of potentially increasing the resource through strike length extension drilling and converting inferred resources to the higher-confidence measured and indicated categories.
READ: African Gold Group pushing towards a million ounce reserve, as financing talks get underway in earnest
Highlights from Tuesday’s results include 2.6 grams per ton (g/t) gold over 8.3 metres (m), including 6.4 g/t gold over 1m and 10.4 g/t gold over 1.2m and 7.2 g/t gold over 1.3m, and 1.2 g/t gold over 12.5m. Higher grade gold mineralization was confirmed down dip to 100m and open at depth and along strike, according to a statement.
Kobada and Faraba concessions
African Gold Group is in the midst of a 10,000m drill program at Gosso, which is located around five kilometres east of the prolific Kobada shear zone. The group aims to drill the extension of the main shear zone as well as infill drilling to upgrade the 575,000-ounce inferred resources in oxides to the indicated and measured resource category, in a bid to reach one million ounces in total reserves at the project.
“We are very happy to have confirmed the prolific nature of the Gosso shear, an initial strike length of 750 metres, which is just the beginning, and its gold mineralisation on surface as well as at depth,” Andreas Rompel, African Gold Group’s vice president exploration said in a statement.
“Furthermore, the presence of saprolite down to more than 100m in depth confirms the characteristics of the Gosso target may be very similar to the Kobada main shear zone with regard to its potential for mining.”
Kobada is located in southern Mali.
Contact Angela at firstname.lastname@example.org
Follow her on Twitter @AHarmantas