TORONTO, CANADA, – African Gold Group, Inc. ("AGG" or the "Company") (TSX VENTURE:AGG) is pleased to announce that a team of engineers, under the direction of Bumigeme Inc., has completed the metallurgical test work associated with processing a total of 128 composite reverse circulation ("RC") drill intervals that emulate the Kobada deposit from surface down through to fresh bedrock. All samples are compiled from Reverse Circulation ("RC") drill cuttings that represent between 30 meters and 50 meters of drill intercepts, derived from one or more holes, within a specific horizon or layer of mineralization, within the deposit. Each of the processed samples weighed between 0.8 to 1.5 metric tonnes. The longer the drill intercept(s) for a given sample the greater the weight of the respective sample. 

A total of 500 samples had originally been identified by AGG's technical team for processing through a fully constructed and commissioned pilot plant. The plant, specifically designed for metallurgical research, has a capacity throughput of up to 2 tonnes per hour. 

Metallurgical Engineers, onsite at Kobada, have reached a consensus that further testing of composite bulk samples of RC drill intercepts, beyond the 128 samples just completed, would be redundant. Essentially, the 128 processed samples represent testing the Kobada deposit over 800 meters of drilled strike length from surface through the oxidized profile measuring approximately 100 vertical meters in depth, into fresh bedrock.

Significantly, the average grade of the 128 sample population that has just been processed through the gravimetric pilot plant was approximately 0.4 g/t Au, based on Leachwell given grade. Furthermore, 75 of the 128 sample population, representing 59% of the total sample population, had a grade that was less than 0.3 g/t Au or below cutoff grade and therefore classified as waste material, based on sample support derived from RC drilling and lab results based on 2 kg Leachwell analysis.

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FEASIBILITY STUDY FOCUSED ON 1,500 T/D GRAVITY PLANT 

 African Gold Group, Inc., (“AGG” or the "Company”) is pleased to announce that a team of engineers, under the direction of Bumigeme Inc., is mobilizing to depart Canada, en-route to Mali, West Africa, with the specific objective of commencing and completing the metallurgical test work for AGG’s Kobada gold project. Completion of the metallurgical test work represents an important phase of work that is essential to concluding AGG’s Feasibility Study for a 1,500 tonne/day gravity (gold recovery) plant for Kobada.

A total of 500 samples have been identified by AGG’s technical team for processing through a fully constructed and commissioned pilot plant. The plant, specifically designed for metallurgical research, has a capacity throughput of up to 2 tonnes per hour. Each of the 500 samples will weigh between 1 to 1.5 metric tonnes. All samples are compiled from Reverse Circulation (“RC”) drill cuttings that represent between 30 meters and 50 meters of drilling, derived from one or more holes, within a specific horizon or layer of mineralization, within the deposit. The longer the drill intercept(s) for a given sample the greater the weight of the respective sample. AGG’s Pilot Plant - onsite at Kobada, Mali.
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African Gold Group, Inc., (TSX VENTURE:AGG)  announces that it has closed an offering, by way of a prospectus exempt non-brokered private placement (the "Offering"), to certain "accredited investors" in Canada and qualified off-shore investors for an aggregate of 21,428,856 units in the capital of the Company (each a "Unit") at a purchase price of $0.07 per Unit for aggregate gross proceeds of $1,500,019.92 (the "Subscription Proceeds"). Each Unit is comprised of one (1) common share in the capital of the Company (each a "Common Share") and one half of one (1/2) Common Share purchase warrant (each a "Warrant") with each whole Warrant being exercisable to acquire one (1) additional Common Share at a purchase price of $0.12 per Common Share at any time prior to 5:00 p.m. (Toronto time) on September 4, 2015.

In connection with the Offering, the Company paid eligible arm's length persons (the "Finders") a cash fee of 6% of the gross proceeds raised through each Finder under the Offering and also issued finder's options (each a "Finder's Option") which will entitle a Finder to purchase, at $0.07 per Finder's Option, up to that number of Units as is equal to 6% of the number of Units placed by such Finder under the Offering. Each Finder's Option will be exercisable at any time prior to 5:00 p.m. (Toronto time) on September 4, 2015 to acquire one (1) Common Share and one half of one Common Share purchase warrant (each a "Finder's Warrant"). Each whole Finder's Warrant will entitle the holder to acquire one additional Common Share at an exercise price of $0.12 at any time prior to 5:00 p.m. (Toronto time) on September 4, 2015. On closing, the Company paid an aggregate amount of $39,212.39 in cash fees to the Finders and issued an aggregate of 1,717,446 Finder's Options to the Finders.

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African Gold Group, Inc., (“AGG” or the "Company”) is pleased to announce the results of a NI 43-101 compliant updated resources estimate for AGG’s Kobada gold project. The resources estimate is based on the analytical results of 108,074 samples derived from a total of 1,035 drill holes consisting of both reverse circulation (“RC”) and diamond drill holes (“DD”), at Kobada, Mali.

Highlights

  • 2,306,000 Oz Au Measured and Indicated resources (contained within 80.61 million tonnes at 0.87 g/t Au using a 0.3 g/t Au cutoff) derived from drilling on 25m x 25m centers over a total of 3,200 meters of strike length between sections 600S and 3,800S, representing an 88% increase in infill drilled strike length relative to the 1,700 meters of strike length reported in the 2011 Inferred resource estimate.

  • 542,000 Oz Au Inferred Resource (contained within 17.88 million tonnes at 0.94 g/t Au, using a 0.3 g/t Au cutoff), predominantly contained from within the Sulphide portion of Zone 1. Included, 186,000 Inferred ounces reported for the Foroko North Deposit (5.16 million tonnes at 1.13 g/t Au at a 0.3 g/t Au cutoff). Foroko North is a satellite deposit situated on a separate and distinct structure from Zone 1. It represents one of seven airborne geophysical targets generated by the 2010 airborne survey.

  • Average grade of 0.87 g/t Au reported in the updated resources estimate represents a 10% increase in grade as compared to the average grade of 0.79 g/t Au reported in the 2011 resource estimate that formed part of AGG’s PEA.

  • Further potential remains to significantly increase both the oxide and sulphide resources along strike and at depth for both Kobada, Zone 1 and Foroko North deposits and elsewhere on the 215 sq km concession where airborne geophysical and geochemical anomalies coincide with extensive areas of gold diggings.

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African Gold Group, Inc., (“AGG” or the "Company”) is pleased to report the analytical results for 85 near surface (oxide), reverse circulation (RC) drill holes, from the Company’s Kobada, Mali gold project. The holes reported in this press release represent the balance of the 2012 Feasibility Study drill program that were infill drilled on 25 meter centers within the (2011) Zone 1 deposit. Drill collars for the RC holes reported in this release are collectively located between sections 2080S through to section 2740S.

Near Surface (Oxide) Drill Highlights From Southern Step Out RC Holes Include:

  • KBRC12-131: 24 m @ 1.08 g/t Au & 12 m @ 1.41 g/t Au & 9 m @ 1.57 g/t Au & 7 m @ 1.10 g/t Au
  • KBRC12-136: 15 m @ 1.50 g/t Au
  • KBRC12-137: 27 m @ 1.90 g/t Au
  • KBRC12-140: 33 m @ 0.73 g/t Au
  • KBRC12-141: 18 m @ 0.77 g/t Au & 13 m @ 0.91 g/t Au
  • KBRC12-144: 21 m @ 0.71 g/t Au & 48 m @ 1.66 g/t Au
  • KBRC12-148: 17 m@ 0.88 g/t Au & 11 m @ 0.70 g/t Au
  • KBRC12-151: 30 m @ 1.19 g/t Au
  • KBRC12-152: 30 m @ 1.54 g/t Au
  • KBRC12-155: 13 m@ 1.62 g/t Au & 3 m @ 1.46 g/t Au & 19 m @ 0.93 g/t Au
  • KBRC12-157: 38 m @ 0.95 g/t Au & 52 m @ 1.06 g/t Au
  • KBRC12-159: 18 m @ 1.45 g/t Au & 22 m @ 0.57 g/t Au
  • KBRC12-160: 75 m @ 3.06 g/t Au, incl 1 m @ 125 g/t Au
  • KBRC12-161: 31 m @ 1.45 g/t Au
  • KBRC12-164: 23 m @ 1.08 g.t Au & 12 m @ 0.79 g/t Au
  • KBRC12-165: 7 m @ 1.75 g/t Au & 25 m @ 1.48 g/t Au & 9 m @ 1.06 g/t Au
  • KBRC12-167: 46 m @ 1.02 g/t Au
  • KBRC12-169: 13 m @ 0.71 g/t Au & 22 m @ 2.29 g/t Au & 26 m @ 0.67 g/t Au
  • KBRC12-176: 50 m @ 1.12 g/t Au
  • KBRC12-179: 31 m @ 2.45 g/t Au
  • KBRC12-183: 16 m @ 0.97 g/t Au & 21 m @ 0.76 g/t Au
  • KBD12-111: 29 m @ 1.11 g/t Au
  • KBRC12-190: 10 m @ 0.80 g/t Au & 31 m @ 1.13 g/t Au
  • KBRC12-193: 48 m @ 1.03 g/t Au
  • KBRC12-197: 37 m @ 0.74 g/t Au & 26 m @ 1.86 g/t Au
  • KBRC12-198: 26 m @ 0.77 g/t Au & 9 m @ 2.43 g/t Au
  • KBRC12-201: 85 m @ 1.27 g/t Au
  • KBRC12-204: 4 m @ 2.41 g/t Au & 57 m @ 1.68 g/t Au
  • KBRC12-205: 18 m @ 0.52 g/t Au & 52 m @ 0.81 g/t Au
  • KBRC12-208: 72 m @ 1.79 g/t Au

The assay results detailing mineralized intercepts for the  near surface (oxide) infill RC drill holes collared between sections 2080S through to 2740S are listed in Table 1 below:

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African Gold Group, Inc., (“AGG” or the "Company”) is pleased to report the analytical results for 72 near surface (oxide), reverse circulation (RC) drill holes, from the Company’s Kobada, Mali gold project. The holes reported in this press release comprise a portion of the 2012 Feasibility Study drill program that were infill drilled on 25 meter centers within the (2011) Zone 1 deposit. Drill collars for the RC holes reported in this release are collectively located between sections 1480S through to section 2050S.

Near Surface (Oxide) Drill Highlights From Southern Step Out RC Holes Include:

  • KBRC12-062: 28 m @ 0.90 g/t Au

  • KBRC12-063: 13 m @ 4.49 g/t Au

  • KBRC12-066: 20 m @ 1.63 g/t Au & 9 m @ 20.96 g/t Au

  • KBRC12-069: 19 m @ 2.99 g/t Au

  • KBRC12-074: 33 m @ 0.80 g/t Au

  • KBRC12-075: 28 m @ 0.99 g/t Au

  • KBRC12-077: 25 m @ 1.01 g/t Au

  • KBRC12-078: 69 m @ 1.67 g/t Au

  • KBD12-117: 20 m @ 4.14 g/t Au

  • KBRC12-081: 45 m @ 1.05 g/t Au

  • KBRC12-084: 69 m @ 2.37 g/t Au

  • KBRC12-087: 67 m @ 0.83 g/t Au

  • KBRC12-089: 11 m @ 6.86 g/t Au

  • KBRC12-091: 39 m @ 0.89 g/t Au & 42 m@ 0.76 g/t Au & 12 m @ 1.04 g/t Au

  • KBRC12-094: 36 m @ 0.94 g/t Au

  • KBRC12-098: 97 m @ 0.95 g/t Au

  • KBD12-116: 13 m @ 2.24 g/t Au & 47 m @ 0.89 g/t Au

  • KBRC12-102: 43 m @ 0.73 g/t Au

  • KBRC12-105: 39 m @ 1.04 g/t Au & 3 m @ 8.07 g/t Au

  • KBRC12-108: 23 m @ 4.23 g/t Au

  • KBRC12-125: 51 m @ 0.70 g/t Au

  • KBRC12-131: 24 m @ 1.08 g/t Au

  • KBRC12-137: 27 m @ 1.90 g/t Au

  • KBRC12-144: 48 m @ 1.66 g/t Au

  • KBRC12-151: 30 m @ 1.19 g/t Au

  • KBRC12-152: 30 m @ 1.54 g/t Au

The assay results detailing mineralized intercepts for the  near surface (oxide) infill RC holes collared between sections 1480S through to 2050S are listed in Table 1 below:

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African Gold Group, Inc., (“AGG” or the "Company”) is pleased to report the analytical results for 57 near surface (oxide), reverse circulation (RC) southern step out drill holes from the Company’s Kobada, Mali gold project.

Near Surface (Oxide) Drill Highlights From Southern Step Out RC Holes Include:

  • KBRC11-043*: 52 m @ 1.02 g/t Au
  • KBRC11-045*: 47 m @ 0.77 g/t Au
  • KBRC12-036:   29 m @ 0.86 g/t Au
  • KBRC12-044:   56 m @ 0.91 g/t Au
  • KBRC11-055*: 35 m @ 0.9 g/t Au
  • KBRC11-056*: 18 m @ 1.18 g/t Au
  • KBRC11-059*: 14 m @ 3.08 g/t Au
  • KBRC11-071:   38 m @ 1.01 g/t Au
  • KBRC11-076:   30 m @ 0.75 g/t Au
  • KBRC11-093:   27 m @ 1.28 g/t Au
  • KBRC11-088:   15 m @ 7.38 g/t Au

The assay results detailing mineralized intercepts for the 57 near surface (oxide) southern step out RC holes are listed in Table 1 below:

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African Gold Group, Inc., (“AGG” or the "Company”) is pleased to announce that the Company has completed the closing of the sale of its Mankranho, Ghana concession to Newmont Ghana Gold Limited (“NGGL”).

Under the terms of the sale, NGGL has purchased AGG’s Mankranho concession for total

consideration of US$4,000,000.

The 108 sq km Mankranho concession is located in the Brong Ahafo region of Ghana.

“The completion of the sale of Mankranho to NGGL represents a significant milestone for AGG. As stated in the Company’s press release of October 10, 2012: the culmination of the monetization of this asset represents the first step in unlocking the intrinsic value of AGG’s Ghanaian assets. Furthermore, the sale of the Mankranho asset facilitates a non-dilutive solution to funding the completion of AGG’s ongoing Feasibility Study for its Kobada, Mali gold project. Moving forward, our sole focus will be putting Kobada into production as expeditiously as possible,” states AGG President, Michael A. Nikiforuk.

Sierra Partners LLC, headquartered in Denver, Colorado, acted as sole financial advisor to AGG on this transaction.

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African Gold Group, Inc., (“AGG” or the "Company”) is pleased to report the analytical results for 20 near surface (oxide), reverse circulation (RC) step out drill holes, from the Company’s Kobada, Mali gold project.

Near Surface (Oxide) Drill Highlights From Northern Step Out RC Holes Include:

  • KBRC12-010: 52 m @ 1.28 g/t Au, ended in mineralization
  • KBRC12-012: 41 m @ 1.04 g/t Au, ended in mineralization
  • KBRC12-013: 85 m @ 1.13 g/t Au
  • KBRC12-014: 107 m @ 1.21 g/t Au, ended in mineralization
  • KBRC12-015: 43 m @ 1.39 g/t Au, ended in mineralization
  • KBRC12-016: 75 m @ 1.92 g/t Au & 68 m @ 0.96 g/t Au, ended in mineralization
  • KBRC12-017: 109 m @ 0.81 g/t Au
  • KBRC12-018: 56 m @ 1.21 g/t Au, ended in mineralization
  • KBRC12-020: 146 m @ 1.13 g/t Au, ended in mineralization

The assay results detailing mineralized intercepts for the 20 near surface (oxide) northern step out RC holes are listed in Table 1 below:

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