TSX-listed African Gold Group has commenced a 10 000 m drill programme at its flagship Kobada gold project in Southern Mali.
Mali – The phase 3 program is designed to both increase resources through strike length extension drilling and upgrade certain inferred resources to indicated. African Gold Group continues to focus on advancing its Kobada project, based upon delivery of its very robust Definitive Feasibility Study (DFS) in July 2020 at $1,530/oz.
AGG awarded the contract to Etasi Drilling, a Malian drilling company, in keeping with the company policy of utilising high-quality local service providers. This partnership has enabled rapid mobilisation of the drilling fleet to site, more than 10km of roads and drill platforms have been prepared, and the company has started drilling.
The 2020 work programme will focus on:
• A 10 000 m drill programme comprising approximately 160 holes, utilising reverse circulation (RC) and diamond drilling (DD) rigs at the Kobada main shear zone, its northern extension and the Gosso target.
• Extension of main shear zone to prove strike extension northwards along continuous mineralized zone for at least another 4 km.
• Gosso target, a mineralized fault zone located 5 km to the East of Kobada main shear zone with known mineralisation in high-grade grab samples.
• A resource upgrade of the 575 000 oz inferred resources in oxides to the indicated and measured resource category with a target to reach 1 Moz of reserves.
Early indications show substantial potential
Located in southern Mali, Kobada has the potential to produce 100,000oz of gold per annum. The previous drilling campaigns focused on delineating a 2.3 million-ounce resource, and 755 00 oz oxide reserve, and only focused on 4km of 30km of shear zones identified on the concession. The upside potential of project will be targeted in a number of phases, with Phase 3 focusing on the conversion of inferred ounces to indicated and measured resources and subsequently into reserves, and targeted drilling along the Kobada shear to extend the strike of the resource.
“The delivery of a robust DFS, demonstrating a project with potential to produce 100 000oz per annum, with highly favourable financial deliverables, was a major milestone in the ongoing development of our flagship, ready for construction, Kobada project,” stated Danny Callow, CEO and president of AGG.
“Despite some of the recent challenges in Mali, we have succeeded in mobilising and commencing exploration drilling. We look forward to re-commencing targeted exploration drilling to bolster the properties significant blue-sky potential by expanding resources and proving the upside potential of what could be a 3 to 5 million ounce deposit.”