African Gold Group, Inc.: Bulk Sampling Results Identifies Significant Potential for High Grade Gold Mineralisation at the Ko...
19 Junho 2014 - 10:00AM
Marketwired
African Gold Group, Inc.: Bulk Sampling Results Identifies
Significant Potential for High Grade Gold Mineralisation at the
Kobada Gold Project
TORONTO, ONTARIO--(Marketwired - Jun 19, 2014) - African Gold
Group, Inc., ("AGG" or the "Company") (TSX-VENTURE:AGG) is pleased
to report the final results for the bulk sampling program at its
wholly-owned Kobada Gold Project in Mali, West Africa. The program
was designed to emulate the Kobada deposit from surface through to
bedrock.
HIGHLIGHTS
- Average bulk sample gold grade was 63% higher than assay data
from the same drill hole intervals;
- Considering bulk sample data above a 0.4 g/t Au cutoff grade
indicated that gold content was 76% greater than that provided from
the assay data over the same drill hole intervals; and
- These results demonstrate that drill hole data alone is likely
to under estimate gold content for the Kobada resource. Once a
mining operation is established at Kobada, this trend is likely to
result in positive reconciliations between resource estimates and
actual gold production.
TESTWORK
The average bulk sample size was 776 kg, with a total of 82
tonnes of material treated at AGG's pilot plant at Kobada. The bulk
sample comprised the retained residue from the 2012 Kobada RC
drilling program, which was batched through the pilot plant as
individual holes.
The primary purpose of the test work was to demonstrate the
effect that a large sample size has on the measured gold content.
Each bulk sample represented 30 to 50 metres of drill hole length,
and was compared to the composite of gold grades of the same drill
hole interval previously established by leachwell analysis. This
leachwell analysis was performed on a 2kg split of RC chips every
one metre of the RC drill hole.
Comparing the results for the entire 82 tonnes of material
processed, the composite grade from drilling was 0.31 g/t Au while
the average grade from the bulk sample was calculated to be 0.51
g/t Au, representing a 63% increase in contained gold. This is
shown in Figure 1 with no Au cutoff grade applied to the bulk
sample data (i.e. Cutoff = 0 g/t Au).
It is important to note that the bulk sample contained material
from RC drill holes that would be classified as waste or below an
economic cutoff grade. Figure 1 illustrates that as the bulk sample
data is filtered above increasingly higher grades (the bulk sample
cutoff grade), the average grade of the bulk sample increases at a
greater rate than the average grade of the drill hole data.
This means that at estimated economic cutoff grades for a full
scale mining project at Kobada, which is likely to be between 0.4
and 0.5g/t Au, the bulk sample data suggests that contained gold
will be 76% to 94% greater than that indicated by the composited
drill hole data.
To view Figure 1 - Bulk sample and drill hole data by cutoff
grade, please click on the following link:
http://media3.marketwire.com/docs/Figure1-AGG.pdf.
The same data analysis is detailed in Table 1.
Table 1 - Bulk sample and drill hole data by cutoff
grade |
|
|
|
Percentage |
|
Bulk |
Drill hole |
Bulk sample |
|
Bulk sample |
Sample |
of total |
|
sample |
composite |
to |
|
cutoff |
size |
sample size |
|
grade |
grade |
Drill hole |
|
Au g/t |
kg |
% |
|
Au g/t |
Au g/t |
grade ratio |
|
0 |
81,543 |
100 |
% |
0.51 |
0.31 |
163 |
% |
0.1 |
67,565 |
83 |
% |
0.60 |
0.36 |
166 |
% |
0.2 |
56,144 |
69 |
% |
0.69 |
0.41 |
167 |
% |
0.3 |
47,409 |
58 |
% |
0.78 |
0.46 |
171 |
% |
0.4 |
39,583 |
49 |
% |
0.87 |
0.49 |
176 |
% |
0.5 |
30,510 |
37 |
% |
1.00 |
0.51 |
194 |
% |
President and CEO of African Gold Group Mr. Declan
Franzmann, FAusIMM, comments, "Results of this
program demonstrated that there is a nugget effect associated with
the Kobada resource, and that this will likely have a positive
effect on the head grade for the project. The test work clearly
demonstrated that at economic gold grades, the contained gold of
the bulk sample was significantly greater than that estimated from
drill hole assaying alone."
"That said, it is AGG's view that the feasibility study
currently underway will consider a resource estimate from only the
assay data of drill holes. AGG plans to update the resource
estimate in the near future, once data from the current drill
program has been processed. It is management's belief that the
grade and size of the Kobada resource is sufficient to be economic
without the inclusion of data from this work. The nugget effect
established in the bulk sample test work will likely result in
positive reconciliations once mining of the project commences."
AGG Director Mr. Pierre Lalande, P.Geo., comments, "It
is important to note that lab analysis of drill intervals from
within the lateritic hardpan zone overlying saprolite often
averaged less than the 0.3 g/t Au, which is the cut-off grade for
the Company's 2013 mineral resource estimate. The bulk sample
testing has demonstrated that this first 10 meters of the Kobada
deposit is likely to significantly understate the contained gold
endowment."
Bulk Sample Methodology
Analytical results for the calculated gold grade were based on
processing the individual composited bulk samples through AGG's
onsite pilot plant. This plant produced a gravity concentrate, a
screen deck oversize and a tailing. Gold content of these three
products was determined separately and combined to produce the
calculated gold content of the bulk sample.
Sampling Protocol
Representative samples of the feed material, plant screen
oversize and tails and entire concentrates were sent for analysis
at Activation Laboratories by 100-mesh metallics screened fire
assay on 1000-g aliquot. One sample in 20 was further analyzed by
Leachwell on 2,000-g aliquot as part of the QA/QC program.
Qualified Persons
The bulk sampling program was executed under the supervision of
Mr. Florent Baril, P. Eng., Metallurgical Engineer. Mr. Baril is
the CEO of Bumigeme Inc., a consulting engineering group, located
in Montreal, Canada. Mr. Baril is a Qualified Persons under
National Instrument 43-101 and has approved the technical
information contained in this release.
About African Gold Group
African Gold Group is a Canadian exploration and development
company with a strong focus on West Africa. African Gold Group is
positioned to grow in value as it progresses its Kobada Gold
Project through a feasibility study, development and into
production. For more information regarding African Gold Group visit
our website at www.africangoldgroup.com.
On Behalf of the Board:
Declan Franzmann, President and CEO
Neither the 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.
African Gold Group, Inc.Michael A. J. NikiforukExecutive
Director(647)
288-0453majn@africangoldgroup.comwww.africangoldgroup.com
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