AGG's management is most encouraged with the drill results being reported today. More specifically, today's results demonstrate the continuation of significant gold mineralization being intercepted as far as 500 meters north of the Company's current 43-101 resource estimate, reported in July, 2011. This 500 meter northern extension, contained between sections 1100S thru section 600S, will be incorporated into a revised resource estimate that forms part of the Company's ongoing Feasibility Study for the Kobada, Mali gold project. It is anticipated that a revised resource estimate will be published on or before April 30, 2013.
Drill intercepts from section 1000S, located 100 meters north of AGG's 43-101 resource estimate, were previously reported in a press release dated November 15, 2011 and included the following near surface drill intercept highlights:
Near Surface (Oxide) Drill Highlights From Northern Step-Out Holes On Section 1000S Include:
-- KBRC11-189: 112 m @ 2.14 g/t Au, incl, 1 m @ 90.19 g/t Au, ended in mineralization-- KBRC11-192: 88 m @ 1.66 g/t Au, incl 2 m @ 25.60 g/t Au-- KBRC11-191: 55 m @ 0.79 g/t Au, incl 1 m @ 15.06 g/t Au-- KBRC11-190: 42 m @ 0.96 g/t Au, incl 1 m @ 12.42 g/t Au-- KBRC11-193: 12m @ 0.89 g/t Au, ended in mineralization
Drill intercepts from Section 950S and 900S, located up to 200 meters north of AGG's 43-101 resource estimate, were previously reported in a press release dated March 20, 2012 and included the following near surface drill intercept highlights:
Near Surface (Oxide) Drill Highlights From Northern Step-Out Holes On Section 950S & 900S Include:
-- KBRC12-006: 70 m @ 1.83 g/t Au & 45 m @ 1.79 g/t Au, ended in mineralization-- KBRC12-003: 27 m @ 0.47 g/t Au & 84 m @ 1.26 g/t Au, ended in mineralization-- KBRC12-004: 21 m @ 1.07 g/t & 9 m @ 1.80 Au-- KBRC12-005: 21 m @ 1.15 g/t Au
"Today's drill results, detailing holes collared on sections 850S thru to 600S, clearly show the continuing presence of robust gold mineralization extending as far as 500 meters north of our current Zone 1, 43-101 resource. Kobada obviously remains open to the north along strike and our depth potential is clearly visible with 11 of 20 holes (being reported in this release) ending in mineralization.
"In addition to demonstrating a strike extension of at least 500 meters north of our current 43-101 resource estimate, the holes that comprise northern extension also define a mineralized corridor that exceeds 100 meters in lateral width that are also associated with an oxidation depth in the magnitude of 100 vertical meters. The mineralization contained within these northern step out holes is well distributed down several of the holes, and is as strong as any gold mineralization encountered in the Zone 1 resource to date," states AGG President, Michael A. Nikiforuk.
To view the map associated with this press release, please visit http://media3.marketwire.com/docs/AGG226MAP.jpg.
On July 14, 2011 AGG announced the results of a positive NI 43-101 Preliminary Economic Assessment (the "PEA" or the "Study") that evaluates the potential of an open pit, bulk mining model, utilizing a gravity recovery process plant, at the Company's Kobada (Mali) gold project. The PEA incorporates and includes drill data up to the end of December, 2010. There is no drill data from either the 2011 or 2012 campaign included in the PEA. More specifically, the PEA does not incorporate drill data for the northern extension holes that hold potential to extend Zone 1 up to 2 kilometers north of the Zone 1 deposit, in addition, the PEA does not incorporate the 2011 southern holes that hold potential to extend Zone 1 up to 1.55 kilometers south of the Zone 1 deposit, nor does the Study include any potential from the newly discovered Foroko North deposit, the newly discovered Termite Zone or the recently announced Gosso discovery zone, the latter three discovery zones being separate and distinct structures from Zone 1.