#ASANTE #OPERATIONS #UPDATE
Vancouver, British Columbia, Oct. 12, 2022 (GLOBE NEWSWIRE) — Asante Gold Corporation (CSE:ASE | GSE:ASG | FRANKFURT:1A9 | U.S.OTC:ASGOF) is pleased to provide an update and status report for the initiatives the Company has taken at its Bibiani and Chirano Gold Mines in Ghana.
BIBIANI RAMP UP ON TRACK
- The first gold pour at the Bibiani Gold Mine (“Bibiani”) occurred on July 7, 2022, two months ahead of schedule.
- All process plant and mine facilities are operating on a 24 hour per day basis, with ~220,000 tonnes of ore treated in September. Asante plans to increase throughput to 250,000 tonnes ore per month by Q1 2023.
- Gold production in September was just above 9,300 ounces, 17% above the Company’s start up plan.
- Mine plan and mine to mill reconciliation for the Walsh satellite pit and Main Pit were on target.
- The Walsh Pit continues to outperform, relative to our initial planned gold production. The area between the Walsh and Main pits were historically used for tailings storage. This area has now been partially explored and Measured and Indicated Mineral Resources have increased from 20,000 to more than 100,000 ounces (1.37 MT with Au grade of 2.62 g/t). The drilling program to explore this trend and to support the planned underground mining strategy has been initiated.
- The Company’s plan to extend the Bibiani LOM (life of mine) from 8.3 years to +10 years is on track with successful development exploration at Russel South (see press releases of March 29th and August 17th) and drilling programs have commenced at the Grasshopper and Elizabeth deposits. The Company will continue its near mine development exploration program with planned drilling of approximately 30,000 metres per year for 2022, 2023 and 2024.
- The Company filed an updated National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) technical report on the Bibiani Gold Mine on September 1, 2022 that incorporates exploration and mine planning results…
