Asante Gold Corporation is pleased to announce additional results from its ongoing exploration drilling program at the Aboduabo prospect located on our Bibiani – Chirano mines corridor, Sefwi Greenstone Belt, Ghana.
These latest results extend the footprint of the prospect to the north and include significant intercepts down plunge in multiple mineralized structures, which highlight the strong upside potential of the deposit. The intercepts are consistent with those previously encountered in both grade and thickness, and gold mineralization remains open along strike and at depth, within favourable geology.
Dave Anthony, President and CEO stated, “The results from our exploration drilling at Aboduabo continue to impress. All drill holes completed to date have intersected mineralization and the latest results continue to demonstrate consistent grade and thickness. We now have a mineralized area at Aboduabo that is up to 130 metres wide by one kilometre in length, close to the surface and just five kilometres from our existing mine infrastructure. Based on the strength of the results, we are planning to develop a starter pit at Aboduabo that could be in operation by the fourth quarter of 2023. These results, and those previously announced for our Russel South deposit, demonstrate the significant exploration potential of the Bibiani – Chirano Corridor. The Company is aggressively exploring the corridor for new discoveries, to grow our mine and near mine resources and to increase the Life of Mine at both operations.”
The Sefwi Greenstone Belt is host to historically significant gold mining operations including our Bibiani and Chirano mines which have produced +8Moz to date from shear faults and veins. Asante controls a 53km long by up to 5km wide corridor which is transected by the Bibiani and Chirano shear zones. Bibiani and Chirano together have current mineral reserves of ~ 2.8Moz and Measured and Indicated mineral resources of over 4.5Moz.
Aboduabo Prospect
The Aboduabo prospect is located approximately 5km north of the Chirano Mine Process Plant and 10km south of the Bibiani Mine Process Plant. Aboduabo is 7 km south of our Russel South deposit. Aboduabo 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 Company 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. These are focused on mineralization extensions along strike and down plunge.
Highlights
• New drill intercepts have extended strike length of mineralization to the north
• The latest results continue to support an open pit development scenario within a corridor on the Bibiani Shear zone which has a long history of gold production
• Gold mineralization remains open along strike and to depth within favourable geology
• Selected intercepts include:
• CHRC3384D – 36.8m @ 2.56 g/t Au from 280.75m to 317.55m
• Includes 21.55m @ 3.13 g/t Au from 280.75m to 302.3m
• CHRC3358D – 29.75m @ 2.04 g/t Au from 187.0m to 216.75m
• Includes 7.85m @ 5.47 g/t Au from 196.65m to 204.5m
• CHRC3375D – 47.8m @ 1.76 g/t Au from 287.2m to 335m
• Includes 26.7m @ 2.06 g/t Au from 287.2m to 313.9m
• CHRC3377 – 23m @ 2.31 g/t Au from 51m to 74m
• And 15m @1.24g/t Au from 0m to 15m
• CHRC3374 – 28.0m @ 1.81 g/t Au from 168.0m to 196.0m
• Includes 9.0m @ 4.10g/t Au from 168.0m to 177.0m
• CHRC3366 – 26.0m @ 1.32 g/t Au from 157.0m to 183.0m
• Includes 11.0m @ 2.43 g/t Au from 172.0m to 183.0m
• CHRC3367- 36.0m @ 1.22 g/t Au from 163.0m to 199.0m
• Includes 3.0m @ 4.87 g/t Au from 196.0m to 199.0m
• CHRC3376 – 12m @ 1.46 g/t Au from 45m to 57m
• CHRC3387 – 27m @ 1.48 g/t Au from 104m to 131m
