African Gold Group, Inc. Files Initial 43-101 Mineral Resources Estimate for "Zone 1" Kobada, Mali on Sedar
Posted on: Tuesday, 20 May 2008, 12:00 CDT
African Gold Group, Inc., ("AGG" or the "Company") (TSX VENTURE: AGG) is pleased to announce that it has filed its National Instrument 43-101 compliant Mineral Resources estimate for "Zone 1" of its Kobada Gold Project located in Mali, West Africa, on SEDAR.
The Mineral Resources estimate was completed by Watts, Griffis and McOuat Limited of Toronto ("WGM"), a well respected international consulting firm which has filled the role of AGG's independent consultant since December, 2007.
In summary, WGM estimates that "Zone 1" of the Kobada deposit, representing approximately 10% of the overall Kobada Trend, as presently outlined, contains an Inferred Mineral Resource of between 450,000 ounces of gold and 740,000 ounces of gold as follows:
Inferred Mineral Resources - "Zone 1" Kobada Project, Mali --------------------------------------------------------------------------- --------------------------------------------------------------------------- No Assay Cutting Assays Cut to 10 g Au/t ------------------------------------------------- Cut-off Grade Tonnage Avg. Grade Contained Avg. Grade Contained (g Au/t) (x 1,000) (g Au/t) Ounces (g Au/t) Ounces --------------------------------------------------------------------------- --------------------------------------------------------------------------- 0.3 18,381 1.25 738,080 1.11 657,386 0.5 8,482 1.99 542,804 1.72 470,461 1.0 5,569 3.02 540,933 2.53 452,320 --------------------------------------------------------------------------- ---------------------------------------------------------------------------
The complete report is available for public viewing at: www.sedar.com/DisplayCompanyDocuments.do?lang=EN&issuerNo=00020520
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 www.africangoldgroup.com and on www.sedar.com and through the Company's offices at: BCE Place, Canada Trust Tower, 27th Floor, 161 Bay Street, Toronto, Canada M5J 2S1
On Behalf of the Board:
Michael A. J. Nikiforuk, President, Director
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Contacts: African Gold Group, Inc. Michael A. J. Nikiforuk (416) 572-2225 Email: info@africangoldgroup.com Website: www.africangoldgroup.com
SOURCE: African Gold Group, Inc.
Source: MARKET WIRE
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