AGG geologists, on site at Kobada, Mali, have recorded the UTM coordinates of the discovery at 54591E, 1289982N in the vicinity of Section 800 South of the Zone 1 deposit.
Of note, on February 26, 2008 the Company similarly announced the discovery of a 2.7 Kilogram gold nugget at Kobada, Mali. AGG geologists recorded the UTM coordinates of this discovery at 543261E, 1290951N.
While the 1 kilogram nugget was discovered within the Zone 1 deposit, the location of the discovery of the 2.7 kilogram gold nugget is a considerable distance from the site of any work undertaken by AGG and speaks to the general prospective nature of the overall Kobada concession.
AGG geologists describe both gold nuggets as being "local." These factors are indicative of the nuggets not having travelled very far from their respective points of origin. It is hypothesized that the gold nuggets were weathered out of a quartz-carbonate vein.
"Kobada shares a common characteristic of many established mining districts throughout the West African theater, that being the presence of extensive local artisanal mining. It is this feature or characteristic that has attracted the western miner(s) to the region, to test the depth extent of gold mineralization and in several instances, has resulted in world class mining projects – Syama, Sadiola and Siguri to name a few. The local population have been exploring and mining the Kobada region for hundreds of years and can still find new resources within sight of old workings," states AGG President, Michael A. Nikiforuk.
