2108/06/13- Arican Gold Group Inc. has started the Diamond Drill and RC Drill program at its Kobada project located southern Mali.
It has engaged the services of Geodrill, and drills were mobilized on site by early June.
The program will focus on two primary objectives of the known 4 km long mineralization:
The new management team is re-affirming through diamond drilling and RC drilling key geological information from the northern area of the Company’s current National Instrument 43-101 compliant Measured and Indicated Mineral Resource estimated at 35.38 million tonnes at an average grade of 1.1 g/t Au, containing 1.215 million ounces. In addition, there is an Inferred Mineral Resource of 32.8 million tonnes at 1.0 g/t gold containing 1.024 million ounces of gold.
Expand Mineral Resource below historic near surface mineralization. Where appropriate management intend to extend drill holes beyond the depth of previous drilling.
Stephan Theron, Chief Executive Officer of AGG, commented, “Our Board, investors and team are very excited to begin work at the Kobada Project. Our newly assembled technical team is confident we will be able to demonstrate, in a short period of time, our ability to increase confidence the current resource, and expand new opportunities across our land package.”
Previous drilling in the northern section of the 2016 Mineral Resource was drilled by RC methods and along mineralization strike. The planned drilling of 10 additional holes, totaling 1,180 metres is designed to significantly de-risk this part of the Mineral Resource – a key criteria as the Company moves forward with its execution strategy.
African Gold Group