Chirano Gold Project: Asante Gold reveals increase in Measured and Indicated mineral resources to 2.12 Moz
Asante Gold Corporation has filed an amended technical report for its Chirano Gold Project in Ghana, West Africa, which indicates a significant increase in the total measured and indicated mineral resources. The Chirano Gold Project is located immediately south of Asante’s Bibiani Gold Mine.
According to the amended National Instrument 43-101 – Standards of Disclosure for Mineral Projects (NI 43-101) technical report, the total measured and indicated mineral resources of the Chirano Gold Project have increased from 1.13 million ounces (Moz) to 2.12 Moz. The correction made in the amended technical report requires that mineral reserves were, in fact, “exclusive,” and therefore all measured and indicated resources and mineral reserve totals may be added to determine the total Chirano mineral resources.
The updated report has increased the total underground measured and indicated mineral resources of the Chirano Gold Project from 0.669 Moz to 1.21 Moz, exclusive of any mineral reserves. The open pit measured and indicated mineral resources have also increased from 0.465 Moz to 0.91 Moz, exclusive of any mineral reserves. Additionally, the mine’s mineral reserves have increased from 0.990 Moz to 1.06 Moz.
Chirano consists of a multi-deposit complex with 11 mineralized deposits that are currently making up the mineral resources contained in the technical report. The Chirano gold deposits have been historically mined from both open pit and underground operations since 2005. The mineral resources for the Chirano Underground and Chirano Open Pits are constrained by resource-optimized shapes and shells based on a US$1,600 gold price.
The amended technical report indicates that the Chirano Gold Project has a considerable upside potential and offers significant value to Asante’s shareholders. The increase in total measured and indicated mineral resources highlights the company’s continued commitment to investing in its operations and expanding its mineral reserves.
The updated technical report is a significant achievement for Asante and its stakeholders. The company is well-positioned to leverage the growth opportunities offered by the Chirano Gold Project, and it is expected to continue to drive value for its shareholders in the coming years.
Despite the positive news of increased mineral resources, Asante’s share price has remained relatively stable since the announcement of the amended technical report. The market appears to be cautiously optimistic about the company’s growth prospects, given the volatility in gold prices and the potential impact of geopolitical risks in West Africa.
Asante’s management team has reiterated its commitment to operational efficiency and cost management, as well as its focus on creating value for shareholders. The company has a solid track record of executing on its growth strategy, and it is well-positioned to navigate the challenges in the global mining industry.
The amended technical report is a positive development for Asante Gold Corporation, and it highlights the company’s potential for significant growth in the future. The Chirano Gold Project’s increased mineral resources are a testament to Asante’s commitment to investing in its operations and creating value for its shareholders. While there are risks associated with mining operations, Asante’s management team has shown a strong ability to navigate the challenges and seize opportunities in the industry, making the company a potentially lucrative investment for those interested in the mining sector.
