Projects

Asante Gold has one development stage and four exploration stage projects in Ghana, West Africa:

Kubi Gold Mine - exploration and underground mine development project located adjoining to the south of the 66 million ounce (pre-mining resource) AngloGold Ashanti Obuasi mine;

  • 100% owned by Asante (subject to final closing and dis-interested shareholder approval to be sought at Special and Annual General Meeting of Shareholders to be held in December, 2016)
  • 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
  • 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
  • Temporary Mine Operating Permit issued for underground exploration program
  • Former Mine Manger for AGA Obuasi Mine is Vice President Operations and Development for Asante
  • Prime location and infrastructure; based on succesful exploration and financing, plan to develop Kubi as a direct shipping and custom milling 500 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 Gold Mine - along the Asankrangwa shear zone:

  • Covers 6km stretch alongside major alluvial gold workings in Ankobra River
  • No reported previous drilling
  • At the intersection of major auriferous linear structures NS, NE-SW, and ENE
  • Previous 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
  • Initial test drill program and ground geophysical IP surveys planned, subject to financing

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 altered Tarkwaiian sandstones
  • On major NS structural lineaments 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 owned 100% by Asante:

  • 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 AnglGold 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. Until title is reserved in the name of Asante, no funds will be raised nor any shares issued or work completed

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