The extension of the Grasshopper Pit mineral resource estimate (or “MRE”) has been announced by Asante Gold Corporation. Situated less than 2 kilometers north of the Bibiani processing plant, the Grasshopper Pit is part of the Bibiani Mining Lease. In Q2 2023, Asante started mining at the Grasshopper Pit.
Asante Gold Mine reports that consistent low-grade, high-tonnage mineralization is confirmed by resource definition drilling data. This mineralization is mostly found within the oxide transition material, which is instantly accessible and has strong recovery rates.
Within an ideal pit shell of US$1,850/oz gold price, constrained indicated resources of 1.88Mt @ 1.04 g/t for 56.5koz of contained gold are provided.
In addition, there are many open mineralization shoots down the strike and downslope past the US$1,850 pit shell.
Asante’s president and CEO, Dave Anthony, said, “I’m happy to announce the expansion of our resources and the creation of the Grasshopper Starter Pit. This illustrates our dedication to making the most of our mining operations and land location. Our rapid resource definition drilling produced very positive findings that highlight the high-tonnage mineralization’s extraordinary consistency within the oxide transition material. We have the potential to unlock significant potential with a constrained indicated resource of 56.5Koz of gold at 1.04g/t inside an optimum pit shell.
Remarkably, the bulk of the mineralized material in the Grasshopper Pit is located in the oxide transition zone, where a gold recovery of over 90% is expected, and the haulage distance to the processing plant is less than 2 km. Multiple mineralization shoots along strike and a downslope below the current pit shell are also present, underscoring the potential for long-term expansion and our long-term dedication to optimizing the value of this asset.
We are eager to further solidify our position in the market and provide outstanding value for our shareholders and stakeholders with the successful launch of the starter pit and mining operations in Q2 2023. We will always be steadfast in our commitment to ethical and sustainable mining methods as we pursue growth and long-term profit creation,” he revealed.
About Asante Gold Corporation
Asante is a gold exploration, development, and operating company with a high-quality portfolio of projects and mines in Ghana. Asante is currently operating the Bibiani and Chirano Gold Mines and continues with detailed technical studies at its Kubi Gold Development Project. All mines and exploration projects are located on the prolific Bibiani and Ashanti Gold Belts. Asante has an experienced and skilled team of mine finders, builders, and operators with extensive experience in Ghana. The company is listed on the Canadian Securities Exchange, the Ghana Stock Exchange and the Frankfurt Stock Exchange. Asante is also exploring its Keyhole, Fahiakoba and Betenase projects for new discoveries, all adjoining or along the strike of major gold mines near the centre of Ghana’s Golden Triangle.
About the Bibiani Gold Mine
Bibiani is an operating open pit gold mine situated in the Western North Region of Ghana, with previous gold production of more than 4.5 million ounces. It is fully permitted with available mining and processing infrastructure on-site consisting of a newly refurbished 3 million tonne per annum process plant and existing mining infrastructure. Asante commenced mining in late February 2022 with the first gold pour announced on July 7, 2022. Commercial production was announced November 10, 2022.
