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African Gold Mali subsidiary enters four option agreements to acquire gold projects

The projects are in the highly prospective and prolific gold producing Kenieba Inlier in western Mali and are known as the Falémé Gold Project.

The four options were secured with an aggregate payment of US$130,000 to four vendors

African Gold Limited (ASX:A1G) has entered four option agreements to acquire contiguous gold permits totalling 111 square kilometres called the Falémé Gold Project on the prolific Senegal-Mali shear zone.

Falémé encompasses a major geological splay associated with a major flexure on the shear zone, with extensive alluvial and hard-rock artisanal gold workings across more than 28 kilometres of strike potential.


African Gold chief executive officer Glen Edwards said the company was building a significant land position in the highly prospective Kenieba window of Western Mali.

He continued: “The inlier has long been known as a world-class gold-producing district hosting mines such as Sadiola, Yatela, Loulo, Gounkoto and Tabokoto.

“In more recent years exploration continues to deliver success after success such as Fekola, Sabodala, Boto, Kofi, Fekola, Mako and many others.

“The land position has been carefully chosen and contains underexplored areas hosting conceptual and empirical targets.”

African Gold executive director Steve Parsons added he was very excited to secure a significant land package in one of the world’s premier gold mining districts.

READ: African Gold begins drilling to test gold targets at Agboville project

Only 25 historical shallow reconnaissance holes have ever been drilled to date across the entire project area, with results including:

  • 7 metres at 4.2 g/t gold;

  • 5 metres at 8.6 g/t;

  • 24 metres at 2.01 g/t; and

  • 4.3 metres at 4.3 g/t.

Some historical work in the last two decades has defined numerous high-priority gold targets including coherent gold-in-soil anomalies, structural-magnetic and geological targets outside of the known areas of significant artisanal gold workings.

Limited follow-up work has been undertaken on the landholding and African Gold intends to complete the first systematic exploration and testing of the high-priority drill targets in the near term.

Quick facts: African Gold Ltd

Price: 0.18 AUD

Market: ASX
Market Cap: $9.92 m

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