African Gold Group, Inc. (TSX VENTURE:AGG) ("AGG" or the "Company") is pleased to announce the completion of drilling for the 2014 field season at Kobada, Mali. This body of work has resulted in the successful collection of over 2.4 tonnes of lateritic and saprolitic material that is representative of the Kobada ore types.
The final drilling was completed subsequent to the incident that was reported in the Company's press release of July 9, 2014. AGG wishes to acknowledge the continuing support of the Government of Mali and their ongoing efforts to curtail illegal mining activity, throughout the entire country, during the rainy season, in accordance with Mali law. This support has allowed the Company to continue its planned work program through to completion.
Officials representing the Canadian Embassy in Mali continue to be most helpful in providing the Company with advice and support, as well as, intervening at the highest levels of the Mali Government on the Company's behalf. AGG wishes to express its gratitude for the continuing initiatives.
Importantly, 1.8 tonnes of sample material has been air-freighted to Australia for the commencement of metallurgical testwork. The balance of the material is being stored in Mali pending initial results of the testwork. The remainder of the sample material, which is packaged and ready for transport, will be sent to Australia via air-freight, should additional material be required.
President and CEO of AGG, Mr. Declan Franzmann comments,"The aim of the 2014 field season was the collection of a representative sample of Kobada ore types. The successful completion of this work, despite the incident reported on July 09, shows that AGG has the support to continue along the development timeline. The material collected will be used for further metallurgical test work and will underpin data for the ongoing feasibility study. Together with an update of the resource estimate, this test work is likely to be significant in the demonstration of the economic potential of the Kobada Gold Project."
African Gold Group, Inc., based in Toronto, Canada, is focused on the development of the Kobada Gold Project in southern Mali. A Feasibility Study is currently underway and the Company is projecting completion of the study in the fourth quarter of 2014. At this time the Company will also submit an application for a Mining License, to the Malian Authorities.
Additional Information is available on www.sedar.com or at
AFRICAN GOLD GROUP INC.
151 Yonge St.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release includes certain "Forward-Looking Statements." All statements, other than statements of historical fact included herein, including without limitation, statements regarding future plans and objectives of African Gold Group; and statements regarding the ability to develop and achieve production at Kobada are forward-looking statements that involve various risks and uncertainties.
There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from African Gold Group’s expectations have been disclosed under the heading "Risk Factors" and elsewhere in African Gold Group’s documents filed from time-to-time with the TSX Venture Exchange and other regulatory authorities. African Gold Group disclaims any intention or obligation to update or revise any forward looking statements whether resulting from new information, future events or otherwise, except as required by applicable law.
Declan Franzmann - President & CEO