TSX-V-listed African Gold Group reports a 44% increase in the measured and indicated mineral resource for its Kobada gold project, in south-western Mali, to 1.71-million ounces.
This includes a 26% increase in the inferred resource to 1.43-million ounces, thereby bringing the total resource at Kobada to more than 3.1-million ounces.
The 2020 drilling campaign, which ran from September 2020 to January this year, consisted of 43 drill holes, totalling 6 364 m.
Of these, four drill holes (522 m) were drilled at the Gosso target and the remaining 39 drill holes (5 842 m) were drilled in the “gap” area and northern extents of the northern domain of the Kobada main shear.
The mineral resource estimate update is based on additional drilling completed on the Kobada main shear, which will form part of a revised definitive feasibility study, which is expected to be delivered by the end of September.
The drilling campaign was focused on the so-called gap area and the northern portion of the Kobada main shear, as well as testing the Gosso target for future potential.
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.
CEO Danny Callow says that, with little additional drilling on the Phase 4A drill programme, African Gold has proven the continued significant upside in its 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,” he says.
From this new drilling, African Gold has added additional shallow, easily accessible inferred resources. “Through further targeted drilling programmes, in phase 4B and 4C we believe there is substantial further upside in resource growth,” says Callow.
“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,” he adds.
Also, recent metallurgical test work completed as part of the feasibility study, revealed the sulphides are free milling and treatable through the same process circuit.