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Asante Gold Corporation
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Asante Gold Corporation
All rights reserved.
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Soul Priest Pectoral Disk
The name in the Akan language for this piece is "akrafokonmu" where "akra" means "soul", "fo" means "people" and "konmu" means, loosely, "around the neck". It is worn on the chest like a pendant and is the badge of identity of a soul priest. One of his primary roles is to preside over the ceremony in which the soul of the king is purified. The shape is called "nyame" which means both "sun" and "God".
The name in the Akan language for this piece is "akrafokonmu" where "akra" means "soul", "fo" means "people" and "konmu" means, loosely, "around the neck". It is worn on the chest like a pendant and is the badge of identity of a soul priest. One of his primary roles is to preside over the ceremony in which the soul of the king is purified. The shape is called "nyame" which means both "sun" and "God".
Asante currently has six project sites in Ghana, West Africa, of which two are in the development stage (near-term production) and four in exploration. According to the World Bank, Ghana is one of Africa's top countries that provides solid social capital and a stable geopolitical situation, making it a privileged business partner for foreign ventures and investors.
Community matters:
Asante strives to build relationships based on mutual respect within the local communities. Where possible, we plan to use new green mining technology to minimize environmental impact, while at the same time improving worker safety and bottom-line returns.
Community matters:
Asante strives to build relationships based on mutual respect within the local communities. Where possible, we plan to use new green mining technology to minimize environmental impact, while at the same time improving worker safety and bottom-line returns.
Bibiani Gold Mine:
o Overview
In August 2021, Asante entered into an agreement with Resolute Mining Limited (Resolute) to purchase their Bibiani Gold Mine in Ghana. Asante has agreed to buy all of Resolute`s interest in Bibiani, through purchase of 100% of the shares of Mensin Gold Bibiani Pty., for a total cash consideration of US$90 million. Learn More
Bibiani is a historically significant gold mine situated in the western region of Ghana. The majority of large gold deposits in Ghana are located on or adjacent to the Ashanti and the Bibiani-Sefwi Gold Belts.
The Bibiani deposits are hosted within meta-sediments of the Kumasi-Afema basin, on the eastern margin of the Bibiani-Sefwi belt. Other world-class deposits within the belt include the Ahafo Mine 20Moz (Newmont) and Chirano Mine 5Moz (Kinross).
Bibiani has produced near 5Moz of gold to date. It is fully permitted with mining and processing infrastructure on site, including a 3 million tonne per annum mill and processing plant plus existing underground mining infrastructure.
Current NI 43-101 Mineral Resource: Measured and Indicated 20.1 million tonnes at 2.71 grams of gold per tonne for 1.81 Moz of gold, plus Inferred 8.41 million tonnes at 2.78 grams of gold per tonne for 0.75 Moz of gold (filed on SEDAR). Asante has recognized additional exploration upside opportunities, both from near-surface and underground targets.
Our current objective is to bring the Bibiani Mine back to production withby 3rd Qtr 2022.
Further discussions are underway to fully fund the acquisition and its development using non-dilutive financing.
Kubi Gold Mine:
o Overview
Kubi Gold's 20-year renewable mining lease was issued in 2008. Our goal is to develop Kubi as a 45Koz to 100Koz per year producer.
We aim to accomplish this objective by using either:
Current NI 43-101 Mineral Resource :
Measured 0.66 million tonnes @ 5.30 g/t Au for 112,000 oz ;
Indicated 0.66 million tonnes @ 5.65 g/t Au for 121,000 oz ; and
Inferred 0.67 million tonnes @ 5.31 g/t Au for 115,000 oz (filed on SEDAR)
These results, from primarily just 400m below the pit, suggest that with deeper exploration that Kubi has the potential for a long mine life - typical of other deep seated mines in Ghana. Scatter plots of drill assay data suggests that the grade is increasing with depth.
Adjoining to the south of the famous 66 million-ounce (pre-mining resource) AngloGold Ashanti Obuasi mine, Kubi is in a prime location with excellent nearby mining infrastructure. Our Bibiani Plant is located just 100km away by tarred highway.
Ghana's big +10Moz mines have deep roots on major geological structures. To get a clearer picture of Kubi's deep potential, we completed 3D magnetic susceptibilty inversion modelling. The results strongly suggest that the structures that host the Kubi gold mineralization extend to +3.5 km in depth - a potential 2 million ounce gold exploration target.
Kubi Gold's 20-year renewable mining lease was issued in 2008. Our goal is to develop Kubi as a 45Koz to 100Koz per year producer.
We aim to accomplish this objective by using either:
- Conventional decline access for underground mining at 650tpd and up to 45Koz per year with an estimated timeline of 12 to 18 months to complete an exploration decline, resource to reserve drilling, underground development and stope planning; and or
- Green mining techniques that use a direct mining approach from the surface with potential for lower capital and faster cash-flow utilizing in line gravity gold recovery.
Current NI 43-101 Mineral Resource :
Measured 0.66 million tonnes @ 5.30 g/t Au for 112,000 oz ;
Indicated 0.66 million tonnes @ 5.65 g/t Au for 121,000 oz ; and
Inferred 0.67 million tonnes @ 5.31 g/t Au for 115,000 oz (filed on SEDAR)
These results, from primarily just 400m below the pit, suggest that with deeper exploration that Kubi has the potential for a long mine life - typical of other deep seated mines in Ghana. Scatter plots of drill assay data suggests that the grade is increasing with depth.
Adjoining to the south of the famous 66 million-ounce (pre-mining resource) AngloGold Ashanti Obuasi mine, Kubi is in a prime location with excellent nearby mining infrastructure. Our Bibiani Plant is located just 100km away by tarred highway.
Ghana's big +10Moz mines have deep roots on major geological structures. To get a clearer picture of Kubi's deep potential, we completed 3D magnetic susceptibilty inversion modelling. The results strongly suggest that the structures that host the Kubi gold mineralization extend to +3.5 km in depth - a potential 2 million ounce gold exploration target.
Other Asante Gold Projects in Ghana
o Overview
Asante is actively exploring four other targets: all with significant gold discoveries in initial drilling and with multi-million-ounce exploration upside. These are Betenase, Keyhole, Fahiakoba, and the Ashanti II Project concessions:
Betenase adjoins to the east of Kubi at the intersection of a major north trend and regional shear contact;
Keyhole is at the intersection of three major regional gold mineralized trends:
Fahiakoba at the intersection of the Perseus Edikan Mine Akropong-Obuasi shear and major east west Offin River trends.Read more:
o Overview
Asante is actively exploring four other targets: all with significant gold discoveries in initial drilling and with multi-million-ounce exploration upside. These are Betenase, Keyhole, Fahiakoba, and the Ashanti II Project concessions:
Betenase adjoins to the east of Kubi at the intersection of a major north trend and regional shear contact;
Keyhole is at the intersection of three major regional gold mineralized trends:
- north east trending Asankrangwa Gold Belt and its 11 Million Oz of resources
- east north east trending major continental-scale basement structure related to 66 Million Oz`s at Obuasi and the 7.6 Moz Akyem Mine
- And the major north-trending Ankobra River lineament which connects the Ahafo Mine in the north, Bibiani and the +60 million ounces total resource gold mines near Tarkwa.
Fahiakoba at the intersection of the Perseus Edikan Mine Akropong-Obuasi shear and major east west Offin River trends.Read more:
Asante is earning up to 90% in the licenses subject to final closing, additional governmental transfers and approvals, which may or may not be ultimately received.
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