Asante Gold unveils maiden Mineral Resource Estimate, fueling optimism for Bibiani gold mine expansion
Asante Gold Corporation has officially disclosed a Maiden Mineral Resource Estimate for the South Russel prospect, located within its Bibiani Gold Mine lease. The announcement marks a significant milestone for the company and underscores its commitment to harnessing the untapped potential of this strategic asset.
Situated along the Bibiani Shear Zone, a mere 5.0 kilometers north of the Aboduabo prospect and 3.8 kilometers south of the Bibiani process plant, South Russel has emerged as a promising addition to Asante Gold Corporation’s portfolio.
Notable findings from the Mineral Resource Estimate include constrained Indicated Mineral Resources amounting to 2.5 million tonnes, boasting an impressive average gold grade of 1.79 grams per tonne (g/t). This translates to a remarkable 157,000 ounces of contained gold, all meticulously delineated within an optimal pit shell designed for a gold price benchmark of US$1,850 per ounce.
The credibility of this Mineral Resource Estimate is underpinned by an extensive drilling campaign, spanning a distance of approximately 20,000 meters. Notably, the results confirm the consistent presence of mineralization in the footwall shear, elevating the South Russel prospect’s status within the Bibiani Gold Mine lease.
Of paramount interest is the revelation of a high-grade shoot, exhibiting an average grade of 8.26 g/t over a 15-meter interval within the footwall domain. This finding is expected to bolster the economic viability of South Russel as a mining asset.
Furthermore, metallurgical studies conducted at South Russel have yielded positive outcomes, aligning seamlessly with the established benchmarks set by the Bibiani Gold Mine. This bodes well for the operational continuity and efficiency of the forthcoming mining activities.
In a strategic move that underscores Asante Gold Corporation’s proactive approach, plans for an accelerated starter pit development at South Russel have been meticulously crafted. The completion of the pit’s design and layout in September 2023 marks a crucial step in the timeline. Subsequent stages, including permitting and community engagement, are expected to conclude by October 2023. Furthermore, the company has scheduled compensation and mining contract engagement for November 2023, with infrastructure construction and mining activities set to commence as early as December 2023.
Dave Anthony, the President and CEO of Asante, conveyed his enthusiasm for the South Russel development, emphasizing its potential to extend the Bibiani open pit’s life of mine from 8.3 years to over a decade. He applauded the remarkable progress achieved by the exploration team in a mere 18 months, as they transitioned from the initial discovery to the establishment of a maiden resource. He also reiterated the company’s unwavering commitment to exploring the extensive Bibiani-Chirano gold corridor, further underscoring the potential for new discoveries and the organic growth of their mining operations.
In light of the robust Maiden Mineral Resource Estimate, Asante Gold Corporation is poised to embark on an exciting journey, as it sets its sights on developing South Russel into a thriving mining operation capable of delivering mineralized material by January 2024. The company’s visionary approach and dedication to resource development manifest in its determined pursuit of sustainable growth in the ever-dynamic mining sector.
