THE BOURSE WHISPERER: African Gold (ASX: A1G) has been granted the Yatia-Sud Exploration Permit in the Kenieba region of West Mali.
African Gold said the grant allows for commencement of exploration works on the permit, which is located within the gold producing Kedougou-Kenieba Inlier and close to the Senegal Mali Shear Zone that is known to host over 45 Million ounces of gold deposits.
The Yatia-Sud area is scattered by active artisanal mining sites, which African Gold believes demonstrates the gold potential of the property.
Previous explorers on the site include BHP Minerals (1995), Alpine Exploration Corporation and Robex Resources (1996-1998), Great Quest Metals Ltd (2002-2007) and Desert Gold Ventures Inc (2008- 2018).
This historical work has intersected gold mineralisation by way of drilling and trenching at a number of locations on the Yatia property.
“As part of our strategy we continue to build and get access to highly prospective ground in the Kedougou-Kenieba Inlier in western Mali,” African Gold CEO Glen Edwards said in the company’s announcement to the Australian Securities Exchange.
“Not just acreage but prospective permits in excellent geological address, on which mostly ‘piece meal’ historical work has already defined walk up targets.
“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 year’s exploration continues to deliver success after success such as Fekola, Sabodala, Boto, Kofi, Mako and many others.
“The company’s land position has been carefully chosen and contains under-explored areas hosting conceptual and empirical targets with real chances of delivering significant exploration success.”
African Gold indicted it has commenced its maiden exploration program that includes soil sampling, rock chipping and first pass shallow drilling on initial target areas on its other granted permits in the Kedougou-Kenieba Inlier in western Mali.