African Gold Group, Inc., is pleased to announce that the closing of the Company’s oversubscribed financing, that was detailed in a press release issued December 17, 2010, has set the stage for the commencement of aggressive exploration and development programs for both the Company’s Asankrangwa Holdings, Ghana and its Kobada Project, Mali.

ASANKRANGWA HOLDINGS, GHANA:        Planned +20,000 Meter Drill Program

 

Exploration work at the Company’s Asankrangwa Holdings in Ghana is scheduled to commence in January 2011. AGG's consolidated Asankrangwa land holdings comprise 5 contiguous concessions (Assuowunu, Twedee, Moseaso, Manso Nkwanta and Manso Atwere) that collectively encompass 456.2 sq. km of ground, representing 94% of the active exploration ground contained within the Northern Asankrangwa gold belt. A gold-in-soil anomaly that measures 24 kilometers in strike length, oriented in a north-east / south-west (NE/SW) direction, is contained within AGG's consolidated boundaries. This linear anomaly is perceived to run parallel to the major structural target(s) currently being drilled by Keegan Resources at its 28 sq. km Esaase concession. Please visit www.africangoldgroup.com to view AGG’s Asankrangwa Holdings.

AGG’s exploration objectives at Asankrangwa, Ghana, are as follows:

  • To commence with geochemical surveys over structural targets identified by AGG’s 2010 high resolution helicopter airborne survey that was flown over the entire 456 sq km Asankrangwa footprint. The identification and location of the aforementioned structural targets will be disclosed in a subsequent press release.

  • To follow with a trenching program over gold in soil anomalies that are generated in the area of the above mentioned geophysical targets.

  • To follow with a drill program, that will approximate +20,000 meters of RC drilling, to test anomalous geochemical / geophysical targets that are generated by the above mentioned programs. At present, it is anticipated that drilling will commence in April, 2011.

  • The program will focus on the western segment of the Asankrangwa Holdings and include significant work on the Assuowunu concession which is contiguous and on strike with Keegan Resources’ Esaase deposit, which is estimated to contain an indicated and inferred resource that approximates 4.9 million oz’s Au.

Published in News Releases

TORONTO, CANADA,– African Gold Group, Inc., is pleased to report the analytical results for 14 near surface (oxide) drill holes, of which 11 holes comprise reverse circulation (RC) drilling and 3 holes comprise diamond drill holes. All holes are infill holes that consisted of either definition drilling, testing of the hanging wall or testing east-west tension gashes. Fifty percent of the holes being reported in this release ended in mineralization

Kobada-Drilling-Section

Near Surface (Oxide) Drill Highlights Include:

RPA10-16: ; 79 m @ 1.03 g/t Au - Hole ended in minerlization @ 114 m

RPA10-14 64 m @ 2.57 g/t Au, incl. 1 m @ 98.68 g/t Au

RPA10-09 19 m @ 2.45 g/t Au, incl 1 m @ 32.99 g/t Au

The assay results depicting the 14 near surface (oxide) holes drilled within Zone 1 are listed in Table 1 below:

Published in News Releases

African Gold Group, Inc., (“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 here.

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 mineralization

RPA10-005: 37m @ 1.47 g/t Au, includes 5m @ 7.48 g/t Au, hole ended in mineralization

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.

Published in News Releases

African Gold Group, Inc., is pleased to report the analytical results for 23 near surface (oxide) reverse circulation (“RC”) drill holes from AGG’s Kobada, Mali gold project.

Near Surface (Oxide) Drill Highlights Include:

 

RPA10-040: 53 m @ 2.08 g/t Au, including 4 m @ 9.12 g/t Au, Ended In Mineralization

RPA10-052A: 90 m @ 0.91 g/t Au

RPA10-055 :   16 m @ 1.71 g/t Au and 36 m @ 1.34 g/t Au

RPA10-036     26 m @ 1.97 g/t Au

RPA10-052C  41 m @  1.03 g/t Au

RPA10-043     26 m @ 1.42 g/t Au

Table 1 below depicts significant intercepts in 22 of 23 holes being reported in this release. A total of 13 of the 23 holes were drilled into the hanging wall or the footwall of the deposit. These 13 holes have succeeded in identifying the lateral limits, or footwall and hanging wall (respectively to the west  and east) of the mineralized envelope and will assist in calculating the volume of ore contained within the mineralized structural corridor.

“We feel confident that our 2010 drill program has achieved a twofold success in that we have succeeded in defining the width of mineralization within Zone 1 but also and of great importance, we believe this program has considerably improved both the tonnage and grade of the deposit at Kobada, Mali,” states Kevin Downing, Ph.D., Senior Structural Geologist.

A drill hole location map and select cross sections can be viewed in the following maps:

Published in News Releases

Dear Investors,

We wish to bring your attention to Thom Calandra’s weekend comment on the front page of this weekends Stockhouse.com.

"African Gold Group (TSX: V.AGG, Stock Forum) in Mali and Ghana wields dig-spin over a dozen gold properties. Michael Nikiforuk in Canada is the CEO, and his team of geologists and engineers has been working on this second-stage prospector for years. This is the kind of company – and yes, I hope to see the properties myself – that could become another Keegan Resources (TSX: T.KGN, Stock Forum) and (AMEX: KGN, Stock Forum), which I have seen.

AGG has been reporting steady and sizeable intercepts in 34 of 35 reverse-circulation drill holes at Kobada. (You can judge for yourself.) Yet every few weeks, in yet another round of results, the stock goes nowhere. Even Ingrid Hibbard’s once-tiny (and entirely worthy) Pelangio Exploration (TSX: T.PX, Stock Forum) in Ghana at $150 million of market cap is faring better on the paper part of the equation.

“Compare these results with the results of Orezone (TSX: T.ORE, Stock Forum) and others in West Africa. We are not intending to take anything away from them,” Mr. Nikiforuk tells me this week. “Kobada will one day be a producing gold mine – and a serious money maker at that.” Michael N. can only wish for a stock chart that looks like Pelangio’s. Or Orezone’s"

Click here to read full article...

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African Gold Group, Inc.,  is pleased to report the drill results from a campaign of due diligence drilling consisting of 22 reverse circulation ("RC") holes and 2 diamond drill ("DD") Holes.

HIGHLIGHTS

  • KBRC9-04: 42 m @ 1.91 g/t Au, including 1 m @ 25.90 g/t Au
  • KBRC9-05: 18 m @ 1.02 g/t Au
  • KBRC9-05: 18 m @ 7.04 g/t Au, including 1 m @ 112.25 g/t Au (ended in mineralization)
  • KBRC9-08: 11 m @ 2.42 g/t Au
  • KBRC9-09: 44 m @ 0.97 g/t Au
  • KBRC9-15: 10 m @ 1.06 g/t Au
  • KBRC9-17: 8 m @ 6.13 g/t Au, (ended in mineralization)
  • KBRC9-19: 9 m @ 1.68 g/t Au
  • KBRC9-20: 8 m @ 7.74 g/t Au
  • KBRC9-20: 21 m @ 4.89 g/t Au, includes 1 m @ 77.99 g/t Au (ended in mineralization)
  • KBRC9-21: 26 m @ 0.88 g/t Au, (ended in mineralization)
  • KB09-100: 16 m @ 0.92 g/t Au (DD hole)

This drill campaign was funded and undertaken by a distinct, separate corporate entity. Drilling represented part of a larger due diligence initiative, which in turn comprised part of a broader Confidentiality Agreement between AGG and the undisclosed corporate entity. The terms of the Confidentiality Agreement provide for AGG to receive and incorporate drill results into AGG's broader Kobada technical data base, as well as, disseminate the information to shareholders.

A total of 24 drill holes were completed during this campaign. Eleven of the 24 holes (9 RC and 2 DD holes) were drilled on 100 meter sections within "Zone 1" of the Kobada deposit, the area from which the 2008 initial resources estimate was based on (see press release dated May 20, 2008 & September 23, 2009). 

The drill results from the 11 holes drilled within the saprolite region of "Zone 1" are listed in Table 1 below:

Table 1: Results From 9 RC & 2 DD Holes In Saprolite Within"Zone 1"

SectionHole IDFrom
(m)
To
(m)
L (m)Au
(ppm)
Comment

2100S

KBRC9-01

4

20

16

0.73

120 meters*

2100S

KBRC9-01

26

34

8

0.62

 

2500S

KBRC9-02

4

18

14

1.24

 

2500S

KBRC9-02

24

32

8

1.46

64 meters*

2500S

KBRC9-02

40

43

3

0.55

 

2500S

KBRC9-02

51

54

3

0.59

 

2400S

KBRC9-03

0

11

11

0.48

 

2400S

KBRC9-03

25

29

4

1.30

80 meters*

2400S

KBRC9-03

51

54

3

0.40

 

2400S

KBRC9-03

64

67

3

0.31

 

2300S

KBRC9-04

0

42

42

1.91

 

2300S

includes

8

9

1

25.90

89 meters*

2300S

KBRC9-04

52

57

5

0.39

 

2200S

KBRC9-05

0

3

3

0.84

 

2200S

KBRC9-05

14

32

18

1.02

 

2200S

KBRC9-05

42

60

18

7.04

100 meters*

2200S

includes

48

49

1

112.25

 

2200S

KBRC9-05

66

71

5

0.25

 

2200S

KBRC9-05

77

80

3

2.04

 

2200S

KBRC9-05

97

100

3

0.40

Ends In Mineralization

2600S

KBRC9-06

8

18

10

0.44

 

2600S

KBRC9-06

24

27

3

0.42

 

2600S

KBRC9-06

32

37

5

0.54

72 meters*

2600S

KBRC9-06

43

54

11

0.90

 

2600S

KBRC9-06

58

61

3

0.34

 

2600S

KBRC9-06

65

68

3

0.36

 

1900S

KBRC9-07

0

15

15

0.97

90 meters*

1900S

KBRC9-07

23

34

11

1.47

 

1800S

KBRC9-08

0

13

13

0.80

 

1800S

KBRC9-08

28

31

3

1.37

100 meters*

1800S

KBRC9-08

38

45

7

1.16

 

1800S

KBRC9-08

62

73

11

2.42

 

1700S

KBRC9-09

6

50

44

0.97

 

1700S

KBRC9-09

60

63

3

0.39

120 meters*

1700S

KBRC9-09

76

79

3

1.38

 

1700S

KBRC9-09

94

102

8

0.93

 

2000S

KB09-100

18

20

3

3.44

Core Hole

2000S

KB09-100

27

30

3

0.34

 

Table 1

Cont'd

         

2000S

KB09-100

32

35

3

0.49

100 meters*

2000S

KB09-100

56

72

16

0.92

 

2000S

KB09-100

77

86

8

0.38

 

1600S

KB09-101

0

11

11

0.68

Core Hole

1600S

KB09-101

17

22

5

0.48

 

1600S

KB09-101

35

41

5

2.96

100 meters*

1600S

KB09-101

68

83

15

0.75

 

* represents length down the hole - all holes drilled at -55°

The remaining 13 RC holes were drilled outside of the known resource with the specific intent of testing the "blue-sky" potential along strike to the north of "Zone 1". The most northerly holes were drilled on section 1100S, representing a 450 meter step-out to the north of section 1550S, the most northerly section of "Zone 1". 

The drill results from the 13 RC step-out holes to test the "blue-sky" potential, to the north of "Zone 1" along strike are listed in Table 2 below.

Table 2: Results From 13 RC Step-Out Holes Within Saprolite

SectionHole IDFrom
(m)
To
(m)
L (m)Au
(ppm)
Comment

1500S

KBRC9-10

0

14

14

0.63

84 meters*

1400S

KBRC9-11

2

12

10

0.91

100 meters*

1400S

KBRC9-12

0

3

3

0.55

100 meters*

1400S

KBRC9-12

23

26

3

0.65

 

1300S

KBRC9-13

17

20

3

0.84

108 meters*

1300S

KBRC9-13

25

28

3

0.33

 

1300S

KBRC9-14

78

81

3

1.34

102 meters*

1400S

KBRC9-15

3

6

3

2.17

 

1400S

KBRC9-15

74

77

3

0.38

96 meters*

1400S

KBRC9-15

82

92

10

1.06

 

1300S

KBRC9-16

10

13

3

3.16

 

1300S

KBRC9-16

38

47

9

0.87

 

1300S

KBRC9-16

57

62

5

1.07

96 meters*

1300S

KBRC9-16

70

73

3

2.58

 

1300S

KBRC9-16

92

95

3

0.50

 

1300S

KBRC9-17

8

11

3

1.05

111 meters*

1300S

KBRC9-17

32

35

3

0.47

 

1300S

KBRC9-17

103

111

8

6.13

Ends In Mineralization

1100S

KBRC9-18

2

7

5

1.75

 

1100S

KBRC9-18

17

20

3

0.59

120 meters*

1100S

KBRC9-19

17

20

3

0.38

 

1100S

KBRC9-19

35

38

3

1.61

120 meters*

1100S

KBRC9-19

93

102

9

1.68

 

1100S

KBRC9-19

113

116

3

0.72

 

1100S

KBRC9-20

0

3

3

0.57

 

1100S

KBRC9-20

8

16

8

7.74

 

1100S

KBRC9-20

46

51

5

0.29

120 meters*

1100S

KBRC9-20

59

62

3

0.99

 

1100S

KBRC9-20

87

108

21

4.89

Ends In Mineralization

1100S

includes

91

92

1

77.99

 

1100S

KBRC9-21

13

17

4

0.64

 

1100S

KBRC9-21

49

54

5

0.81

 

1100S

KBRC9-21

60

86

26

0.88

120 meters*

1100S

KBRC9-21

93

99

6

0.85

 

1100S

KBRC9-21

105

108

3

0.34

 

1100S

KBRC9-21

111

120

9

0.57

Ends In Mineralization

* represents length down the hole - all holes drilled at -55°

NOTES:

  1. True width is unknown at this time.
  2. Intersections are based on a 0.3 g/t gold cut-off with maximum internal dilution of 5m for the lower grade mineralization envelope
  3. The intersections listed in the table represent sections of at least 3m.
  4. The RC portions of the drill holes were sampled at 1-m intervals. The cored portion of the drill holes were sampled at one metre intervals and cut in half using a diamond saw. Half-core is archived at the core storage facility on site while the other half was sent to the laboratory.
  5. Analytical procedure was Leachwell with the incorporation of duplicates and standards as part of QA/QC. Analysis was performed at ALS Chemex at Ouagadougou, Burkina Faso.

All drill holes were concentrated in the upper oxide profile (saprolite) of the Kobada deposit and ranged in length from 64 meters to a maximum length of 120 meters down the hole. 

Kobada-Drilling-Section

The main objectives of the drill program were:

  1. To confirm the overall historical grade and continuity of the saprolite zone of the deposit, which averages approximately 75 vertical meters in depth, from surface. As stated above, 9 RC holes on 100 meter sections (2600S, 2500S, 2400S, 2300S, 2200S, 2100S, 1900S, 1800S, 1700S) and 2 DD holes (2000S and 1600S) tested the saprolite zone, within "Zone 1".
  • To test the effect of a bigger sample support (RC vs DD) and of a larger aliquot (2kg vs 50g) during assaying.
  • Step-out drilling beyond the 2008 northern limit of the "Zone 1" deposit on sections 1500S, 1400S, 1300S and 1100S to test for the potential extensions of Au mineralization along strike to the north.
  • To conduct metallurgical test work by testing the saprolite generated from RC drilling in "Zone 1" of the deposit by gravity, including crushing, with or without milling. A total of 127 samples with a cumulative weight of 280 kg were shipped to Canada for evaluation.

OBSERVATIONS

  • Based on the results of this program it can be stated that using a bigger sample support(s) and aliquot(s) indicates the potential to increase overall grade and/or in situ gold content, at Kobada, in the saprolite (or oxide zone) by up to 39% with samples that contain high assays uncut. Samples containing high assay values that are cut back to 10 g/t Au continue to demonstrate an increase in overall grade and/or in situ gold content of approximately 11%.
  • Step-out drilling beyond the northern region of Zone 1 showed that the mineralization intersected on Line 1200S in the 2008 RC drilling extend to Lines 1300S and 1100s adding a potential 200m strike length to the Zone 1 strike length of 1200m. For more information click here!
  • Gravity and cyanide leach testing were initiated on some 280 kg of RC drill chips and core rejects. Early results indicates that both processing routes give good gold recovery. The final metallurgical test report detailing gold characterization and deportment tests is still pending and will be reported separately, upon receipt.

CONCLUSION

At this juncture management remains committed to the continuing development of its Kobada gold project, located in Mali, West Africa. Presently, drilling continues at Kobada and additional drill results are anticipated and will be reported in due course. Furthermore, the airborne survey of the entire Kobada gold project, comprising 216 sq kms and consisting of 4,700 linear kilometers flown on 50 meter line spacing at an altitude of 30 meters is complete. Final interpretation of the geophysical survey is anticipated within the next 30 days and is anticipated to generate a substantial increase in structural drill targets.

Third party due diligence remains ongoing and continues at Kobada at this point in time and management continues to express its interest in assessing all practical avenues to enhancing shareholder value through the continued development of its Kobada, Mali gold project.

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 africangoldgroup.com and on sedar.com and through the Company's offices at:

Suite 2518, 150 King St. West,
Toronto, Canada M5H 1J9.
Sun Life Financial Tower,

On Behalf of the Board:

Michael A. J. Nikiforuk,
President, Director

African Gold Group, Inc.

Michael A. J. Nikiforuk
President, Director
(416) 644-8892 ext 101

This email address is being protected from spambots. You need JavaScript enabled to view it.

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

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