AMN - GHANA: Search for oxide resources near Asanko

Asanko Gold is working on identifying additional oxide resources within short trucking distance of existing operations at the Asanko gold mine in Ghana, West Africa. Commercial production was declared at Asanko in April.

Highlights:

-          Currently evaluating three near surface exploration targets within short trucking distance of existing processing plant: Nkran Extension, Adubiaso Extension and Akwasiso

-          Nkran Extension resource estimate completed: Measured & Indicated Mineral Resources 758,658 tonnes at 1.76 grams/tonne gold at 0.8 grams/tonne cutoff

-          Adubiaso Extension resource estimate previously announced: Measured & Indicated Mineral Resources 628,600 tonnes at 1.89 grams/tonne gold at 0.8 grams/tonne cut-off

-          New larger target, Akwasiso, focus of current drilling with 4200 metres drilled to date and a Mineral Resource Estimate expected in the fourth quarter of 2016

-          Supplementary Environmental Impact Studies for Adubiaso Extension submitted to relevant Government regulatory bodies, Nkran Extension scheduled for submission by end of the third quarter 2016. Permits expected in time for commencement of mining in early 2017.

Asanko Gold CEO Peter Breese says: “The three current exploration targets offer immediate, low-cost, incremental ounces that will keep our “hungry” mill full for the next two years while we develop our Phase 2A expansion project. These near-surface deposits are now being incorporated into our Life of Mine Plan, with mining targeted to start in early 2017.

Akwasiso is an exciting new target which is in close proximity to the Nkran Extension and is an important addition to our satellite deposit project pipeline. We are targeting an initial Mineral Resource Estimate during the fourth quarter of 2016.”

The Asanko gold mine is an open-pit mining operation, comprising the Nkran pit and four satellite deposits (Abore, Asuadai, Dynamite Hill and Adubiaso) and a 3 million tonnes/year CIL processing plant facility. It is wholly owned by Asanko, with a 10% free carried interest held by the Government of Ghana.

www.asanko.com

News courtesy of International Mining