TORONTO, Aug. 29, 2019 (GLOBE NEWSWIRE) -- African Gold Group, Inc. (AGG.V) (“AGG” or the “Company”) is pleased to announce that AMCO Drilling Mali SARL (“AMCO”) has been awarded the contract to perform the upcoming diamond drilling campaign in order to confirm and add to the current resource.
AMCO is a West Africa-focused drilling company that is permanently based in Mali. AMCO, with its specialized personnel, has been recognized as one of the leading providers of specialist drilling services in the region. Utilising their highly maintained fleet of drilling rigs and associated equipment and supported by extensive workshops, stores facilities and high-quality communications, AMCO is ideally placed for the drilling campaign at the Kobada project.
AMCO Drilling employs a highly motivated, flexible and mobile team of employees consisting of both expatriate and locally employed labour, all of whom are highly skilled in exploration drilling.
AMCO has already been to site to evaluate the ground and plan the camp and logistics. “We are thrilled to have signed AMCO for the next drilling campaign,” says Dr. Andreas Rompel, Vice President Exploration of AGG. “During the planning phase of our next drilling campaign, AMCO has shown that they are highly qualified for the Kobada project. We are looking forward to partnering with them as we continue to explore this highly prospective and exciting deposit. The aim of this program will be to upgrade the quality of the resource and drill additional holes into other highly prospective areas identified through our extensive regional exploration program.”
“We are delighted to be part of this very exciting project,” says James Blakeley, Commercial Manager, AMCO. “We believe that with our expertise in operating through the rainy season, we will be able to expedite the drilling program and deliver a significant improvement in the quality of the resource at Kobada in shortest time possible.”
AMCO will execute the planned drilling of approximately 15,000 metres and liaise closely with Minxcon, the recently appointed geological project managers. The resulting drill core will be sampled and assayed for grade. Subsequently, these results will be entered into the new resource model with a view to upgrading the quality of this resource model as part of the overall definitive feasibility study.
About African Gold Group
African Gold Group is a Canadian listed exploration and development company on the TSX Venture Exchange (TSX V:AGG) with its focus on developing a gold platform in West Africa. Its principal asset is the Kobada Project in southern Mali. For more information regarding African Gold Group visit our website at www.africangoldgroup.com.
For further information please contact:
President and Chief Executive Officer
(416) 861 2267
This press release contains "forward looking information" within the meaning of applicable Canadian securities legislation. Forward looking information includes, but is not limited to, management’s, the Company’s development and exploration plans for the Kobada project, the timeline for the completion of the definitive feasibility study and other statements with respect to the future plans or intentions of the Company. Generally, forward looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", “aims”, "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, geopolitical and social uncertainties; the actual results of exploration activities; regulatory risks; risks inherent in foreign operations; and other risks of the mining industry. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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