Highlights
- Resource definition drilling results confirm consistency of low-grade high tonnage mineralization mainly within the oxide transition material representing immediately accessible mineralized material with high recovery rates.
- Constrained Indicated Resources of 1.88Mt @ 1.04 g/t for 56.5koz of contained gold within an optimal pit shell of
US$1,850 /oz gold price. - The MRE for Grasshopper is supported by approximately 10,000m of historical drilling and 8,800m of recent drilling.
- Multiple shoots of mineralization are open along strike and down plunge beyond the
US$1,850 pit shell. - Further drilling is planned with potential to grow the mineral resource beyond the current pit shell.
- Constrained Indicated Resources of 1.88Mt @ 1.04 g/t for 56.5koz of contained gold within an optimal pit shell of
- Majority of mineralized material from the
Grasshopper Pit is within the oxide transition zone and expected to yield gold recovery above 90%.
- Starter pit development and mining commenced in Q2 2023.
- Gold mineralization is associated with the sheared metasedimentary sequence bounded by well-defined footwall and hanging wall structures.
“I am pleased to announce this resource extension and development of the
Notably, the majority of the mineralized material in the
With successful commencement of the starter pit and mining activities in Q2 2023, we look forward to further strengthening our position in the market and delivering exceptional value for our shareholders and stakeholders. Our ongoing commitment to responsible and sustainable mining practices remains unwavering as we continue to drive growth and create lasting value for all stakeholders.”
Details of Drill Results
Table 1: Grasshopper Drilling Results
Significant Drilling Intercepts - Grasshopper Drilling | ||||||
Project Area | Hole ID | From (m) | To (m) | Interval (m) | Au (g/t) | Description |
GRASSHOPPER | MGDD23-215 | 11.5 | 17.5 | 6.0 | 1.65 | 6m @ 1.65 Au(g/t) |
GRASSHOPPER | MGDD23-218 | 57 | 68 | 11.0 | 2.73 | 11m @ 2.73 Au(g/t) |
GRASSHOPPER | MGRC21-027 | 45 | 48 | 3.0 | 1.26 | 3m @ 1.26 Au(g/t) |
GRASSHOPPER | MGRC21-029 | 57 | 67 | 10.0 | 3.46 | 10m @ 3.46 Au(g/t) |
GRASSHOPPER | MGRC22-136 | 26 | 31 | 5.0 | 1.65 | 5m @ 1.65 Au(g/t) |
GRASSHOPPER | MGRC22-138 | 45 | 53 | 8.0 | 3.46 | 8m @ 3.46 Au(g/t) |
GRASSHOPPER | MGRC22-141 | 26 | 29 | 3.0 | 0.80 | 3m @ 0.8 Au(g/t) |
GRASSHOPPER | MGRC22-142 | 52 | 57 | 5.0 | 0.83 | 5m @ 0.83 Au(g/t) |
GRASSHOPPER | MGRC22-144 | 40 | 44 | 4.0 | 1.42 | 4m @ 1.42 Au(g/t) |
GRASSHOPPER | MGRC22-147 | 85 | 88 | 3.0 | 0.55 | 3m @ 0.55 Au(g/t) |
GRASSHOPPER | MGRC22-148 | 70 | 73 | 3.0 | 5.86 | 3m @ 5.86 Au(g/t) |
GRASSHOPPER | MGRC22-149 | 89 | 92 | 3.0 | 0.98 | 3m @ 0.98 Au(g/t) |
GRASSHOPPER | MGRC22-152 | 74 | 77 | 3.0 | 2.14 | 3m @ 2.14 Au(g/t) |
GRASSHOPPER | MGRC22-153 | 57 | 60 | 3.0 | 0.85 | 3m @ 0.85 Au(g/t) |
GRASSHOPPER | MGRC22-156 | 47 | 50 | 3.0 | 2.60 | 3m @ 2.6 Au(g/t) |
GRASSHOPPER | MGRC22-157 | 58 | 67 | 9.0 | 1.70 | 9m @ 1.7 Au(g/t) |
GRASSHOPPER | MGRC22-158 | 64 | 67 | 3.0 | 1.11 | 3m @ 1.11 Au(g/t) |
GRASSHOPPER | MGRC22-186 | 48 | 51 | 3.0 | 0.77 | 3m @ 0.77 Au(g/t) |
GRASSHOPPER | MGRC23-209 | 141 | 146 | 5.0 | 3.18 | 5m @ 3.18 Au(g/t) |
GRASSHOPPER | MGRC23-232 | 4 | 7 | 3.0 | 1.46 | 3m @ 1.46 Au(g/t) |
GRASSHOPPER | MGRC23-238 | 27 | 34 | 7.0 | 1.05 | 7m @ 1.05 Au(g/t) |
GRASSHOPPER | MGRC23-239 | 49 | 52 | 3.0 | 2.21 | 3m @ 2.21 Au(g/t) |
GRASSHOPPER | MGRC23-240 | 78 | 81 | 3.0 | 1.08 | 3m @ 1.08 Au(g/t) |
Notes:
- Intervals reported are down hole lengths. True width estimated @ 80%.
- Length-weighted averages from uncapped assays with assumptions of 0.5g/t cut off and <3m internal waste.
Figure 1: Lidar image of the Bibiani mine showing the Grasshopper pit in relation to mine infrastructure.
Figure 2: Longitudinal Section of Grasshopper showing selected drill intercepts.
Figure 3: Longitudinal Section of Grasshopper showing resource blocks (above 0.5g/t), and selected drill intercepts indicating further resource expansion beyond the current pit design
Grasshopper Estimation Approach and Parameters
The effective date of the MRE for Grasshopper is
QA/QC
Asante employs a QA/QC program consistent with NI 43-101 and industry best practices. Surface drilling was conducted by
Qualified Person Statement
Scientific and technical information contained in this news release was reviewed and approved by
About
Asante is a gold exploration, development and operating company with a high-quality portfolio of projects and mines in
About the
Bibiani is an operating open pit gold mine situated in the
For additional information relating to the mineral resource and mineral reserve estimates for the
About the
Chirano is an operating open pit and underground mine located in the
For additional information relating to the mineral resource and mineral reserve estimates for the
For further information please contact:
Frederick Attakumah, Executive Vice President and Country Director
info@asantegold.com
+1 604 661 9400 or +233 303 972 147
Cautionary Statement on Forward-Looking Statements
Certain statements in this news release constitute forward-looking statements, including but not limited to, estimated mineral resources, reserves, exploration results and potential, development programs and potential synergies between Chirano and Bibiani. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from these forward-looking statements include, but are not limited to, variations in the nature, quality and quantity of any mineral deposits that may be located, the Company’s inability to obtain any necessary permits, consents or authorizations required for its planned activities, the Company’s inability to raise the necessary capital or to be fully able to implement its business strategies, and the price of gold. The reader is referred to the Company’s public disclosure record which is available on SEDAR+ (www.sedarplus.ca). Although the Company believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except as required by securities laws and the policies of the securities exchanges on which the Company is listed, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
LEI Number: 529900F9PV1G9S5YD446. Neither IIROC nor any stock exchange or other securities regulatory authority accepts responsibility for the adequacy or accuracy of this release.
Photos accompanying this announcement are available at
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Figure 1
Lidar image of the Bibiani mine showing the Grasshopper pit in relation to mine infrastructure.
Figure 2
Longitudinal Section of Grasshopper showing selected drill intercepts.
Figure 3
Longitudinal Section of Grasshopper showing resource blocks (above 0.5g/t), and selected drill intercepts indicating further resource expansion beyond the current pit design
2023 GlobeNewswire, Inc., source