Asante Gold discovers additional gold reserve at Chirano mines
Asante Gold, a Canadian mining company, has announced additional results from its ongoing exploration drilling program at the Aboduabo prospect located on the Bibiani – Chirano mines corridor in the Sefwi Greenstone Belt of Ghana. The latest results extend the prospect’s footprint to the north to approximately one kilometer in length, with significant intercepts down plunge in multiple mineralized structures that highlight the strong upside potential of the deposit.
The Aboduabo prospect lies within the Bibiani mineralized trend and is hosted in Birimian sedimentary rock sequences. The Chirano gold deposits are primarily hosted in Birimian volcanic and granitoid sequences along the sub-parallel Chirano trend. The Sefwi Greenstone Belt is home to historically significant gold mining operations, including Asante’s Bibiani and Chirano mines, which have produced over 8 million ounces of gold to date from shear faults and veins.
The Company controls a 53 km long by up to 5 km wide corridor that is transected by the Bibiani and Chirano shear zones. Bibiani and Chirano together have current mineral reserves of approximately 2.8 million ounces and measured and indicated mineral resources of over 4.5 million ounces, providing a strong foundation for Asante’s growth strategy in Ghana.
The exploration program at Aboduabo is part of Asante’s wider exploration strategy aimed at identifying and developing new resources within the Bibiani – Chirano mines corridor. The Company is focused on exploring for both shear-hosted and intrusive-related gold deposits, with the potential for high-grade mineralization.
Asante is committed to responsible exploration and mining practices and operates in accordance with international best practices and standards. The Company works closely with local communities and government agencies to ensure the sustainable development of its operations and the well-being of local stakeholders.
The latest exploration results from Aboduabo demonstrate the strong potential of the prospect and highlight the Company’s ongoing success in identifying new resources within the Bibiani – Chirano mines corridor. Asante looks forward to continuing its exploration program and unlocking further value for its shareholders and stakeholders.
This announcement comes after Asante announced initial exploration results at Aboduabo on January 17 and February 8, 2023. From the start of exploration by Asante, 50 drill holes totaling 11,950m have been completed, with a focus on mineralization extensions along strike and down plunge. All drill holes to date have been mineralized, with intercepts consistent with those previously encountered in both grade, thickness, and gold mineralization. The prospect remains open along strike and at depth within favorable geology.
Investors may be pleased with the latest exploration results, which show the potential for further resource growth at Asante’s Aboduabo prospect. The Company’s strong track record in identifying and developing new resources within the Bibiani – Chirano mines corridor provides confidence in the potential for future success. However, as with all mining operations, there are risks and uncertainties associated with exploration and development, and investors should carefully consider these factors before making any investment decisions.
Overall, Asante Gold’s ongoing exploration program at the Aboduabo prospect is an exciting development for the Company and its stakeholders. The potential for further resource growth within the Bibiani – Chirano mines corridor is significant, and Asante’s commitment to responsible mining practices bodes well for the sustainable development of its operations. Investors will be closely watching the Company’s progress as it continues to unlock further value for its shareholders and stakeholders in the coming months and years.
