African Gold Group provides results from its trenching program on the Fié trend at Kobada Gold Project in Southern Mali.
Localization of the Permit (Image Credit: African Gold Group, Inc).
Highlights include:
- The trenching program continues to increase the footprint of the mineralized shear zones exposed on the property and further validates the resemblance of the geological structure to the Kobada main shear zone and the Gosso shear zone
- Trench 2: 80 m in length, with good intersections within 1 m @ 2.27 g/t and 1 m @ 8.11g/t
- Trench 3: Trench crosscutting numerous E-W veins and veinlets
- A number of intersections within 6 m @ 1.39 g/t followed by another 5 m @ 1.19 g/t with over 2.5 g/t at many places
- Grab samples gathered close to trench 3 in the historical artisanal mining region at 3 m depth with E-W quartz veinlets occurring into the sap
- Samples following each other on around 5 m wide pit at an average of @ 2.79 g/t
- Additional positive anomalies from trench 5 and 6 at Fie trend necessitating additional follow up
The Fié trend belongs under the Kobada Est exploration permit and forms part of the combined 55 km of shear zones, detected across the three concessions from earlier soil geochemistry, geophysics and other regional exploration.
The Kobada Est is part of a group of permits situated on the western flank of the Bougouni basin encompassing an area of 63,679 acres. The trenching program was concluded in October 2021 with the goal of validating the Fié trend anomaly — two trenches with a joint length of 110 m, and an average depth of 2.5 m, with 0.5 to 1.5 m in laterite and 0.5 to 1.0 m in the saprolite.
The mapping of the trenches revealed a number of diverse narrow veinlets with variable measurements (azimuth, dips, etc.). The anomalous veins were sub-vertical (75° to 90°) with a common orientation in the east-west direction.
The anomalies found across multiple trenches in the Kobada Est concession indicated our continued confidence in the upside potential of the overall African Gold Group portfolio. The progression of exploration into our adjacent concessions as part of our requirement to deliver commitments as part of our licenses continues to give us great confidence in the upside potential of the overall project.
Danny Callow, CEO, African Gold Group
The trenching program continues to increase the footprint of the mineralized shear zones found on the property and further verifies the resemblance of the geological structure to the Gosso shear zone and the Kobada main shear zone.
The trenching program has provided positive results for the mineralization possibility at the Kobada Est shear zone and will be carried on with further trenching and drilling to test the target area in greater detail.
Exploration Next Steps
After a robust commitment from shareholders in the earlier private placement raise, the company is budgeting extra funds to begin drilling the most probable shear zones in both the Faraba and Kobada Est exploration concessions.
Option Grant
Besides a press release (as of August 4, 2021) reporting the appointment of Douglas Jendry to the Board of Directors (the “Board”) of the Company, the company has granted 500,000 stock options to Doug Jendry pursuant to the stock option plan of the company.
The stock options vest immediately and may be applied at a price of $0.14 per option for a period of 5 years from the date of grant. This grant of options is conditional on the approval of the TSX Venture Exchange.
Qualified Person
The scientific and technical information in this article has been appraised and approved by Uwe Engelmann, BSc (Zoo. & Bot.), BSc Hons (Geol.), Pr.Sci.Nat. No 400058/08, MGSSA, a director of Minxcon (Pty) Ltd. regarding mineral resources, who is a Qualified Person as stipulated by National Instrument 43-101.