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African Gold Group, Inc. Step-Out Holes Intercept 102 Meters of 1.00 g/t Au from Surface, Ending in Mineralization and 45 Meters of 1.57 g/t Au-Kobada, Mali Continues to Grow
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TORONTO, ONTARIO--(Nov. 16, 2010) - African Gold Group, Inc., (TSX VENTURE:AGG)("AGG" or the "Company") is pleased to report the analytical results for 4 near surface step out, reverse circulation ("RC") drill holes from AGGs Kobada, Mali gold project.
These 4 holes, drilled on section 2700S, represent a step out of approximately 100 meters south of section 2600S, representing the southern extremity of the mineralized envelope that contains AGGs historical 43-101 initial resources estimate of approximately 740,000 ozs Au at an average grade of 1.25 g/t Au (visit
Table 1 below depicts the significant intercepts from the four near surface, step out drill holes being reported in this release. A drill hole location map can be viewed by activating the link:
TABLE 1
Section
Hole
ID
From
(m)
To
(m)
L
(m)
Au
(g/t)
EOH
(m)
Degrees
TN
Hole
objective
2700S
RPA10-007
5
20
15
0.6
290
Southern Step Out
31
102
71
0.63
102
Hole Ended In
Mineralization
2700S
RPA10-007A
4
7
3
1.38
195
Southern Step Out
26
29
3
0.44
38
41
3
0.49
70
102
32
0.56
102
Hole Ended In
Mineralization
2700S
RPA10-008
1
4
3
0.34
290
Southern Step Out
13
58
45
1.57
including
20
21
1
11.56
69
104
35
0.68
112
116
4
0.34
117
2700S
RPA10-008A
0
102
102
1.00
102
195
Step Out, Ended In
Mineralization
Notes:
1)
In-fill holes drilled a N290� azimuth are perpendicular to Zone 1 strike
2)
In-fill holes drilled in other azimuth are designed to test for the density of occurrence of mineralized tension gashes perpendicular to Zone 1 strike
3)
Significant drilled intercept have a minimum length of 3m at 0.3 g/t or the product "Length X Grade" greater than 0.9 g.m/t
4)
Up to 5m of horizontal "waste" included within mineralized intercept
AGG believes the significance of todays 4 step out holes, drilled on section 2700S, should be viewed within the context of the 6 step-out holes the Company reported on August 31, 2010. Collectively, these 10 holes represent three distinct fences, drilled 50 meters apart on sections 2700S (todays release), 2750S and 2800S (Aug. 31, 2010 release). Activate Link to view August 31, 2010 press release.
When the four step outholes being reported today are examined withinthe context of the six step out holes reported on Aug 31 (2010), we are conclusively demonstrating that this new zone of gold mineralization is:
considerablyoutside of the current 43-101 resource model;
and
arevised 43-101 model should reflect a substantial increase in tonnage and ouncesAu, derived from the inclusion of the southern extension of Zone 1, alone.
Table 2 below depicts the significant intercepts from four of six near surface, step out drill holes drilled on section 2750S and 2800S, reported in AGGs August 31, 2010 press release.
TABLE 2
Section
Hole ID
From (m)
To (m)
L (m)
Au (g/t)
EOH (m)
Degrees TN
Hole
objective
2750S
RPA10-005
15
32
17
1.06
290
Test for southern
extension
2750S
RPA10-005
38
41
3
0.55
2750S
RPA10-005
50
53
3
0.53
Hole ended in
mineralization
2750S
RPA10-005
73
110
37
1.47
110
2750S
