Central African Gold Retains MSA Group to Complete Due Diligence and NI 43-101 Report on Musefu Gold Project
Vancouver, July 9, 2021 - Central African Gold Inc. (TSXV: CAGR) (FSE: BC2) (OTCQB: NDENF) (the "Corporation" or "Central African Gold") is pleased to announce the Corporation has retained South African based MSA Group to complete technical due diligence and NI 43-101 technical report on the Musefu Gold project in the DRC. Central African Gold recently announced it has entered into an agreement to acquire an interest in the Musefu Gold Project which has historical gold exploration and production.
Established in 1983, the MSA Group has grown to become a holistic consulting and contracting company providing specialist technical input into international projects in the resource, financial, infrastructure and development sectors. They have worked across multiple sectors, on all commodities and in diverse environments on five continents for some of the largest multinational companies, listed juniors and private companies and investors. MSA has worked in over 30 countries in Africa, and has an intimate, first-hand knowledge of the African continent and extensive knowledge of remote project environments. MSA has recent and relevant experience in the DRC on gold projects.
Mr. Stephen Barley, Chairman and CEO of Central African Gold stated, "We required an experienced and independent consulting group to complete a NI 43-101 report on the Musefu Gold Project. The consultants had to have a strong knowledge base of the geology and mining practices in the DRC; have an impeccable reputation in the industry; and be responsive to our timing requirements and proceed with a sense of urgency. MSA exceeds all our requirements. Musefu is a large land package with great potential, and we believe MSA is the right group to assist us in unlocking that potential."
Musefu Gold Project
The project comprises five concessions covering 924 sq kms located 315 kms south of the city of Kananga in Kasai Central Province, southern DRC. Kasai Central Province has been underexplored due to its location and the need for infrastructure expansion. Central African Gold believes the required investment in infrastructure is imminent and it is opportunistic to be an early entrant into the region with such a large tract of high potential underexplored land. Prior work programs returned impressive high assays and high potential targets for additional exploration. (See news release dated June 29, 2021).
About Central African Gold Inc.
Central African Gold is a natural resource company with a primary focus on the acquisition, exploration, development, and operation of mineral projects in the Democratic Republic of the Congo ("DRC"). Central African Gold currently holds rights to multiple mineral projects with base and precious metal potential strategically located in the southern DRC. Central African Gold has the intention to acquire interests in additional concessions or relinquish concessions in the normal course of business. Central African Gold has an experienced management team located in the DRC.
For further information, please contact:
Stephen Barley, Chairman & CEO
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain "forward-looking information" within the meaning of applicable securities laws including, but not limited to the satisfactory completion of due diligence on the Musefu Gold Project; the closing of the acquisition of the Musefu Gold Project; the completion of a NI 43-101 Report; and the completion of the announced necessary financings to fund the Corporation. Although the Corporation believes considering the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate, that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them as the Corporation can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. The statements in this press release are made as of the date of this release. The Corporation undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of the Corporation its securities, or its financial or operating results.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/89838