Business and Finance Business and Finance
Thu, June 3, 2010
[ Thu, Jun 03rd 2010 ] - Market Wire
MZF Announces Name Change
[ Thu, Jun 03rd 2010 ] - Market Wire
Atacama Q1 2010 Highlights

African Gold Group, Inc. Drill Hole RPA10-055 Intercepts


Published on 2010-06-03 06:40:45 - Market Wire
  Print publication without navigation


TORONTO, ONTARIO--(Marketwire - June 3, 2010) - African Gold Group, Inc., (TSX VENTURE:AGG) ("AGG" or the "Company") is pleased to report the analytical results of the first eight Reverse Circulation ("RC") drill holes to be released from the ongoing drill program at the Company's Kobada, Mali gold project.

Near Surface Drill Highlights Include:

RPA10-072:11 m @ 3.47 g/t Au (hole ended in mineralization)
RPA10-066:29 m @ 1.20 g/t Au (hole ended in mineralization)
RPA10-055:16 m @ 1.71 g/t Au and 36 m of 1.34 g/t Au, including 9 m of 3.91 g/t Au
RPA10-054A61 m @ 0.69 g/t Au
RPA10-056B24 m @ 1.15 g/t Au (hole ended in mineralization)

Hole identification commencing with "RPA" indicate holes that were specified to be drilled by the Company's consulting group, Scott Wilson Roscoe Postle Associates. A total of 68 RPA holes were designated to be drilled within the upper oxide profile of "Zone 1" of the Kobada deposit and all 68 RPA holes have been completed.

To date, the Company is pleased to advise that it has completed drilling for a total of 131 RC holes (of which 68 holes represent the above mentioned RPA holes) for a total of approximately 16,464 meters drilled. All holes average approximately 125 meters in length, drilled at -55º and are intended to test gold mineralization within the saprolite profile that averages approximately 100 vertical meters from surface.

The assay results contained within this press release represent the first eight holes (of 131 holes drilled) to be reported from the ongoing program. A total of 25,000 meters of RC drilling, approximating 200 RC drill holes, has been planned for the ongoing work program that is scheduled for completion on or about July 31, 2010.

The drill results from the first eight holes of the ongoing program are listed in Table 1 below:

TABLE 1

SectionHole IDFrom (m)To (m)Length (m)Au (ppm)AZIMUTH (°TN)Comments
1600SRPA10-0711344310.44200
1600SRPA10-071727530.31 125 meters @ -55°
1600SRPA10-071798230.49
1600SRPA10-071949730.37
1600SRPA10-07111211530.35
1600SRPA10-07112212530.74 Ended in Mineralization
1600SRPA10-07231180.38190
1600SRPA10-072202440.32 125 meters @ -55°
1600SRPA10-0724051113.47
1600Sincludes4446215.45
1600SRPA10-0728092120.86
1600SRPA10-072101125240.70 Ended in Mineralization
1650SRPA10-066130291.20180
1650SRPA10-066394230.46 125 meters @ -55°
1650SRPA10-066697342.22
1650SRPA10-066909330.74
1650SRPA10-06610310630.72
1650SRPA10-06612212530.36 Ended in Mineralization
1750SRPA10-0551430.41290
1750SRPA10-0551935161.71 126 meters @ -55°
1750SRPA10-0554261190.57
1750SRPA10-05588124361.34
includes889793.91
1750Sincludes939528.07
1775SRPA10-050A331.03290
1775SRPA10-050A192890.93 125 meters @ -55°
1775SRPA10-050A4160190.69
1775SRPA10-050A727530.58
1775SRPA10-050A8397141.09
1775SRPA10-050A11311630.90
1775SRPA10-054A61610.69200126 meters @ -55°
1775SRPA10-056A11111.64200
1775SRPA10-056A404330.34 126 meters @ -55°
1775SRPA10-056A6281190.53
1775SRPA10-056A9410281.50
1775SRPA10-056B23230.84110
1775SRPA10-056B394230.62 126 meters @ -55°
1775SRPA10-056B5588330.93
includes5579241.15
1775SRPA10-056B106126200.91 Ended in Mineralization

Notes
1)
Holes (2) at 290° TN are infill within the 2008 resource estimate and perpendicular to Zone 1 strike
2) The remaining 6 holes are drilled at various directions to the strike of Zone 1 in an effort to test the intensity of cross-cutting veins (stockwork and tension gashes)
3) All holes are within Zone 1
4) Minimum intercept is 3m at 0.3 g/t or the product "Length x Grade" greater than 0.9 g.m/t
5) Up to 5m of horizontal "waste" within mineralized intercept
6) Sampling at 1m interval
7) Results are uncut with results greater than 10 g/t Au shown as "includes"
8) QA/QC program in place

To view the plan map and cross sections, please visit the following link:
[ http://media3.marketwire.com/docs/africangold.pdf ]

"This release sets the stage for an unprecedented level of consistent news flowing from our Kobada, Mali gold project. Ideally, we envision reporting Kobada results to our shareholders and the investment community at large throughout the balance of this calendar year and well on into 2011 as we continue with the aggressive development of Kobada and ultimately, Asankrangwa, Ghana, as well," states Michael Nikiforuk, AGG President and Director.

Sampling - QA/QC Program

RC cuttings are recovered at the bottom outlet of the RC rig cyclone into 50-kg capacity poly-weave bags to recover the cuttings from each 1 metre of drill penetration. Each one meter sample weighs an average of approximately 19 to 23 kg. Each sample is passed through a 3-tier Jones Riffler (1 to 8 split), the samples are riffled twice to obtain from 3 to 5 kg of cuttings which are put in a numbered sample bag. Each bag is sealed and dispatched to the ALS Chemex laboratory located in Burkina Faso. The remaining 14 to 18 kg of cuttings (field rejects) are stored in camp under tarps to protect the bags against the elements.

Original samples are analyzed using Leachwell on 2 kg of pulp. Leachwell is a bottle roll cyanidation procedure with the addition of a catalyst to speed up gold dissolution. A QA/QC program is in place and includes: blank (1 in 20 samples), duplicates (1 in 20), standards (1 in 20), external lab checks (1 in 30) and two different analytical procedures check (1 in 100).

Under the guidelines of National Instrument 43-101, the qualified person for the Kobada Gold Project is Mr. Pierre Lalande, P. Geo. Mr. Lalande is a member of the Association of Professional Geoscientists of Ontario and has reviewed and approved the contents of this news release.

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: BCE Place, Canada Trust Tower, 27th Floor, 161 Bay Street, Toronto, Canada M5J 2S1

On Behalf of the Board:

Michael A. J. Nikiforuk, President, Director


The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.