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 Manger 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 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
  • Recent 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.

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