African Gold surged on ASX post identification of additional Gold-in-Anomalies at Agboville Gold Project

African Gold Limited (ASX: A1G) announced on 14th March that the company identified multiple additional Gold-in-soil anomalies at its flagship Agboville Gold Project in Cote d’ Ivoire.

Following the recent listing on Australian Stock Exchange, the company commenced field exploration at Agboville gold project and announced about the results of the exploration program.

The Prospect:

Agboville gold project is located in the southeast of the West African Craton, which is considered to be an excellent prospect of gold. The project site is also believed to have the potential for nickel, cobalt, copper, lithium, etc.

The dominant rocks in the area are Birimian-age terrigenous sedimentary rocks of the Comoe series and comprise of Sandstones with Phyllitic matrix, arkoses, and pelitic layers. There are graphite and conglometric unit along with Volcanic rocks, which are present within the sedimentary sequence.

The Volcanic rocks however only form a fraction of component. With these sedimentary sequences, some leucogranite and layer mafic and ultra-mafic intrusions are also present in the prospect along with late-stage pegmatitic rocks, which are associated with the leucogranite plutons.

Rock types and basic architecture present in the prospect are propitious to host significant gold mineralisation, within structural sites associated with rheological contracts. The mapped mineral occurrences on the prospect include columbite, tantalite, monazite, copper, nickel, cobalt, manganese, and Chromite. The company identified mineralisation of lithium and beryllium to the north of the Agboville tenement boundary.

Exploration:

The company undertook a Geochemical Program with a total of 408, 2kg soil samples and submitted to SGS Tarkwa for Bulk leach extractable gold (BLEG) analysis. As per the company, the soil and LAG samples from the gold grid have been analysed by Aqua Regia AAS and BLEG respectively.

The objective of the geochemical program was to infill 800m x 50m anomalies and define parallel mineralisation structures to the main 20km gold in soil anomaly (Tyche Prospect), which was previously explored by Goldenstar Limited.

The Tyche prospect which contains the gold-in-soil anomaly is a coherent 20km long 1 –1.15km wide prospectus, where Tyche gold-in-soil strikes towards the northeast direction.

The Goldenstar Limited, who defined the robust gold-in-soil anomaly, could not drill due to other priorities, till to date there has been no drill testing, and defined anomalies remain entirely untested. The maximum gold assay which returned from the soil sample was 4.11g/t (4110ppb).

The company undertook an orientation survey in 3 lines over the existing anomaly, to evaluate the BLEG.

The result from the geochemical program returned a soil up to 589ppb gold with many samples returning exceptional gold value. The maximum gold assay as defined resulted 4.11g/.t, along with that the six soil samples from various locations within the anomaly returned gold assays, which exceeded 1.0g/t gold grade.

As per the company, the detailed analysis of the available data further suggests some anastomosing sub-parallel higher grade towards the northeast-striking zones.

The company received further 2 x new parallel 2,500m & 1,500m striking high tenor gold-in-soils from Tyche gold prospect, and the geochemical test suggested that the gold anomaly at the prospect could extend 10km towards the south-west.

During the time of writing this report, the shares of the company closed on a positive note at A$0.260 (as on 14th March 2019), up by 4% as compared to its previous close.


Disclaimer

This website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The website has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold. We are neither licensed nor qualified to provide investment advice.

Top 25 Dividend Stocks To Consider

People prefer a dividend stock in their portfolio as it possesses the feature of compounding. Compounding means that the earning which is generated through these dividend stock will get reinvested and will eventually create earnings from earning. More precisely, the dividend generated from these dividend stock will get reinvested to buy another set of a share of the dividend stock which results in giving a higher dividend.

Click here to download your top 25 dividend stocks report!

6 Cannabis Stocks under Investor’s Limelight…

Cannabis companies that sell both medicinal weed and recreational pot. Marijuana stocks to look at. Marijuana mergers and acquisitions. Dispensary data analytics. Upcoming marijuana IPO’s Those phrases have become increasingly common as marijuana legalization spreads.

Global spending on legal cannabis is expected to grow 230% to $32 billion in 2020 as compared to $9.5 in 2017, according to Arcview Market Research and BDS Analytics. As of June 29, 2018 the United States Marijuana Index, despite a lot of uncertainty around regulations, has over the past 1 year gained 71.49%, as compared to about 12% gain seen by the S&P 500.

Click here for your FREE Report

LEAVE A REPLY

Please enter your comment!
Please enter your name here