Asante Gold Corporation is focused on developing high margin low CAPEX gold projects in Ghana, Africa’s largest and safest gold producer.
Our experienced team members have previously developed 24 million ounces of gold resources in Ghana and managed its largest underground mine.
We plan to develop our gold projects in a safe and environmentally sustainable way by utilizing new green technology and methods where possible. For instance at Kubi we plan to power it with a solar plant and storage, and provide potable water supply for the local community. Kubi is on the famous Ashanti Gold Belt and adjoins to the south of AngloGold Ashanti’s 66 million ounces Obuasi Gold mine.
Our current focus is to put Kubi back into production from up to 45koz per year using either conventional underground mining with decline access, or utilizing new direct mining from surface – a new application of already worldwide proven technology.
We are also exploring for the next big one – on our Keyhole concessions (optioned from Sikasante Mining Company Limited); Betenase Option (optioned from Perseus Ghana); and Fahiakoba concession – all with significant high-grade gold discoveries and multi-million-ounce exploration upside; all subject to final closing and additional third party and governmental transfers and approvals. We also have options on up to eight concessions: two adjoining Kubi; and six along strike to the south west of the Galiano Gold /Goldfields Obotan Mine. These licenses have been explored in the past by many companies including BHP, Nevsun Resources and PMI Gold Corporation with many significant drill ‘discovery’ holes already outlined and requiring follow up detailed exploration.
We plan to capitalize on this gold-rich and growing mining environment by continuing to build our assets through development, exploration and acquisitions.
Asante Gold Corporation Ghana Projects
Asante Gold has one exploration/development stage and four exploration stage projects in Ghana, West Africa:
Kubi Gold Mine – exploration and underground mine development project adjoining to the south of the 66 million ounce (pre-mining resource) AngloGold Ashanti Obuasi mine;
- up to 100% by Asante (subject to final closing)
- Brownfield near term development project: AngloGold Ashanti mined 58,696 oz Au @ 3.65g/t from surface oxide ore up to 2005 on lease from Nevsun Resources; backfilled pits to daylight
- 20 year renewable Mining Lease issued in 2008
- US$30 million in previous drilling, exploration and development by BHP, Nevsun Resources, PMI Gold
- Current NI 43-101 Measured + Indicated resources of 233,000 oz Au @ 5.48 g/t; inferred 115,000 oz @ 5.31 g/t, filed on Sedar
- Limited deep drilling suggests grade increasing with depth; significant areas with +8.0 g/t Au grade indicated – to be tested in proposed resource to reserve upgrade underground drilling program from decline
- Former Mine Manager for AGA Obuasi Mine is Vice President Operations and Development for Asante
- Prime location and infrastructure; based on successful exploration and financing, plan to develop Kubi using direct mining by large bore drilling technique; or alternatively as a direct shipping and custom milling 500 – 650 tpd, 30koz to 45koz Au per year producer
- Includes two ‘pending’ concessions, adjoining to the west (subject to further Governmental approvals and transfers from a third party, and final closing)
Keyhole Concessions – Option to earn up to 100% from Sikasante Mining Company Limited. Located 35km southwest of Asanko/Goldfields Gold Mine – along the Asankrangwa shear zone:
- Covers 6km stretch alongside and under major alluvial gold workings in Ankobra River
- Drilling at MEM showing gave discovery of 13.1g/t Au over 3.0m at depth of 120m in a shear defined over 850m strike length
- At the intersection of major country scale auriferous structures
- Historical underground sampling results to 8m widths of 25 g/t Au reported( Junner, 1933,Gold Coast Geological Survey)
- Surface grab samples of quartz reef dump material from artisinal shafts to 54 g/t Au
- Additional ground geophysical IP and Em surveys planned to outline additional drill targets
Betenase Concession – Option to earn up to 100% – exploration project adjoining to the east of Kubi and south of AngloGold Ashanti Obuasi mine property, under option from Perseus Ghana:
- Initial 4 hole drill program discovered 3.14g/t Au over 4m in a 750m long gold in soil target
- Gold associated with quartz stringers and sulfides in variously hematite altered Tarkwaiian sandstones
- On major NS structural lineaments spatially associated with AGA Obuasi Mines and EW lineaments associated with Kubi and Perseus’ Edikan Mine
- Further ground geophysical IP surveys and drilling planned, subject to financing
Fahiakoba Concession – exploration project – Asante has earned 100%:
- Initial IPO project held by Asante
- Completed 4,985 metres of drilling in 30 holes testing various ground geophysical targets under extensive alluvial cover – best hole intersected 289.5 g/t Au over 0.5m in a quartz stringer with coarse pyrite
- On major structural trends between Perseus’ Edikan Mine and AngloGold Ashanti’s Obuasi Mine
- Further ground geophysics IP and drilling planned, subject to financing
Ashanti II Project – six** pending exploration concessions on the Asankrangwa gold belt along strike and southeast of Asanko Gold Mine;
- Cover dozens of known historical prospects and recent drill ‘discovery holes’ that have been defined by extensive ground and airborne surveys by Tri-Star Gold, Nevsun Resources, Switchback Mining, PMI Gold Corporation and others
- On major NE-SW structural trends cut by marked EW and NS lineaments from aero magnetic and radar topo interpretations
- Cut by major continental scale ENE lineament related to AngloGold Ashanti Obuasi Mine
- Further ground geophysics IP and drilling planned on final closing
- **these concessions are all subject to final closing, additional Governmental transfers and approvals, which may or may not be ultimately received.