Asante Gold unlocks new mineral reserves
Tue Sep 24 2024
This significant milestone marks another step towards achieving Asante's ambitious production target of over 500,000 ounces by 2028.
The Russel deposit, situated approximately 3.8 kilometres from the Bibiani processing plant, boasts an impressive 119,000 ounces of measured and indicated gold resources, grading 1.80 grams per tonne, with mineralogy similar to the Bibiani main pit. This satellite pit is expected to play a crucial role in augmenting production from the main pit.
According to Dave Anthony, President and CEO of Asante, "The start of production at Russel represents another successful milestone on our journey to grow Asante's production. This is the third satellite pit explored, defined and optimised by Asante since acquiring the Bibiani properties."
Positive results
The company's relentless efforts to expand its operations have been yielding positive results, and the Russel deposit is a testament to its strategic exploration and development initiatives.
The approval for mining at Russel follows several major catalysts, including the re-routing of the Bibiani-Goaso highway, which will enable access to additional oxide mineralised material, and progress on constructing the Bibiani sulphide treatment plant. These developments have paved the way for increased production and revenue growth.
Once fully operational, the combined Bibiani-Chirano district is projected to become the seventh-largest gold-producing district in Africa and the only tier-one gold district on the continent held outside of a major gold producer. This achievement will solidify Asante's position as a significant player in the African gold mining industry.
Russel pit
The Russel Starter Pit will operate for an initial period of 15 months, followed by Russel Cut 2. Over the next 30 months, the pit is expected to deliver approximately 1.9 million tonnes of ore at 1.62 grams per tonne to the Bibiani process plant.
The pit's dimensions are impressive, with a strike length of approximately 390 meters and a depth of 168 meters from the surface.
Asante is committed to further exploring and developing the Russel deposit. Current drilling programmes are focused on extending the known resource downplunge and along strike to the south.
These efforts aim to convert inferred mineralisation to indicated resources and confirm the suitability of the resource for underground mining methods.
A preliminary study will be conducted to assess the potential transition to underground mining at Russel, unlocking additional value and extending the mine's lifespan.
This strategic approach will enable Asante to maximise the deposit's potential and create long-term value for its stakeholders.
Asante Gold Corporation's progress at the Bibiani mine demonstrates its dedication to responsible and sustainable mining practices. The company remains focused on delivering value to its shareholders while contributing to the economic growth and development of Ghana.
Source: https://www.graphic.com.gh/