TSX-listed African Gold Group has announced a 44% increase in measured and indicated mineral resources at its Kobada gold project in Mali.
The mineral resource estimate update is based on additional drilling completed on the Kobada main shear from September 2020 until January 2021, which will form part of a revised definitive feasibility study expected to be delivered by the end of September.
- A 44% increase in the measured and indicated mineral resource to 1.71 million Au ounces.
- A 26% increase in the inferred mineral resource to 1.43 million Au ounces.
- Significant additional upside in the inferred mineral resource.
- Gosso target drilling confirmed that the mineralisation and grades are higher than that observed at the Kobada main shear with an average grade of 1.11 g/t.
The drilling campaign was focused on the “gap” area and the northern portion of the Kobada main shear, as well as testing the Gosso target for future potential. The drilling has once again increased the confidence in the geological model even further and resulted in a substantial increase in the mineral resource estimate.
Danny Callow, CEO of African Gold Group, commented, “With very little additional drilling on the Phase 4A drill programme, we have proven the continued significant upside in our Kobada asset. These results are substantially better than those in the July 2020 Definitive Feasibility Study, and we are very excited to see this continued growth in measured and indicated resources. From this new drilling, we have added additional shallow, easily accessible inferred resources, and through further targeted drilling programmes, in Phase 4B and 4C we believe there is substantial further upside in resource growth.
“We have always stated that there is significant upside in Kobada, and with more than 50 km of shear zones still untested with the drill bit, we believe we are sitting on a substantial world class resource.”
2020 Drilling campaign
The 2020 drilling campaign, running from September 2020 until January 2021, consisted of 43 drillholes totaling 6 364 m. Of these, four drillholes (522 m) were drilled at the Gosso target and the remaining 39 drillholes (5 842 m) were drilled in the “gap” area and northern extents of the northern domain of the Kobada main shear. The Gosso drillholes were all completed using diamond drilling while the Kobada drilling was a combination of diamond drilling (8 holes @ 1 258 m) and RC drilling (21 holes @ 2 890 m) with selected RC drillholes being completed with diamond tail (10 holes @ 1 221m RC and 473 m diamond) to drill into the sulphides.
The main focus of the 2020 drilling campaign was to confirm the geological model and improve the confidence in the model even more to enable additional mineral resource conversion of the oxides to the measured and indicated resource categories. The drilling was also used to test and confirm the depth extension of the lateritic (soft) material, the transition zone and the sulphides at depth.