African Gold Group’s COVID-19 Response Allows the Kobada Gold Project to Continue to Advance Rapidly
13 May 2020 - 2:05PM
African Gold Group, Inc. (TSX-V: AGG) (“
AGG” or
the “
Company”) is pleased to provide an update on
its fully permitted Kobada Gold Project in Southern Mali.
Highlights include:
- The Company's activities remain unaffected by the
Covid-19 pandemic.
- Strict response plan imposed at the Kobada Gold Project
reducing the workforce to key personnel and under strict social
distancing and hygiene rules
- Project development timeline has not been impacted by
the Covid-19 related measures
- Definitive feasibility study (the “DFS”) is on track
and expected to be delivered in Q2 2020
- The Company is making preparations for additional field
work at Faraba and Kobada extension exploration
concessions
Operational update
The Company has made comprehensive operational
changes to continue the work on the DFS expected to be delivered in
Q2 2020. Given the Kobada Gold Project`s current development stage,
which is centered on completing the DFS, there have been no
considerable impacts to the development timeline as the result of
Covid-19 pandemic.
Following a comprehensive drilling campaign in
2019-2020, with an improved understanding of the controls of
mineralization at the Kobada Gold Project’s main shear zone, there
exists the potential to locally expand the project’s resource with
targeted drilling. This was recently illustrated with the Gosso
target, where targeted grab samples proved additional mineralized
zones. The Company views its Faraba and Kobada extension
exploration concessions as highly prospective targets for the
potential discovery of additional centres of mineralization. To
that end, we are continuing to plan for additional drilling at our
exploration concessions once the restrictions are lifted by Malian
government.
COVID-19
There have been no confirmed cases of Covid-19
infection reported by any of the Company`s employees or
contractors. As per Malian regulations, the Company has enacted a
strict response plan to ensure the well-being of its employees and
contractors.
The Company regards the health and safety of its
employees and the communities in which we operate as our highest
priority. The Company’s activities remain unaffected. On the
ground, the workforce has been reduced to key personnel only and
continues to operate with strict social distancing rules.
The Company will continue to review its response
to Covid-19 to ensure the well-being of its employees and the
business are safeguarded, especially as lockdown restrictions are
lifted and employees start returning to work. Although, all
international travel in Mali remains suspended, the Company has
implemented a rapid response plan to ensure operational readiness
when the restrictions are lifted by Malian government.
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 more information:
Daniyal Baizak VP Corporate Development(416) 861 2966
Cautionary statements
This press release contains “forward‑looking
information” within the meaning of applicable Canadian securities
legislation. Forward‑looking information includes, but is not
limited to, statements regarding, timeline for delivery of the DFS,
Covid-19, the Company’s response to the resumption of work,
exploration of the Faraba and Kobata extensions 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.
NEITHER 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.
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