News Releases Archive

Asante Gold Exploration Update – Stock Option Issued

FOR IMMEDIATE RELEASE SHARES ISSUED: 66,545,757

Vancouver, British Columbia – April 6, 2020 – Asante Gold Corporation (CSE:ASE/ FRANKFURT:1A9/U.S.OTC:ASGOF) ("Asante" or the "Company") announces that it has granted 200,000 incentive stock options to a consultant at a price of $0.10 per share, for a term of two years.

EXPLORATION UPDATE

Kubi East Trenching Program: During the months of January thru March a program to test previously located Induced Polarization (IP) anomalies, consisting of six excavator trenches and hand dug extensions, totaling 216m in length and to depths of 6m, were completed, with 53 channel samples analysed. Only background gold levels were noted. All trenches have now been backfilled using local village labour and returned to agricultural use.

TR-01 and TR-02 covering the highest priority IP targets outlined to date on the east side of the Kubi Gold Mine pit did not reach bedrock given the thick waste dump material encountered. Values to 3m at 4.5g/t gold in a garnet and sulfide rich zone were noted in a previous drill hole at a depth of 360m vertically below TR-01. TR-02 uncovered pit waste material which contained up to 5% finely disseminated sulfides, and may explain the underlying IP anomaly. These two targets remain to be tested in a future drill program.

TR-03 to TR-06 were cut in saprolite, primarily mauve to mottled beige Tarkwaiian boulder meta conglomerates and mottled beige to white Tarkwaiian meta sandstones. No sulfides, pervasive silicification or graphitic shear zones were noted. In TR-03 a 5m wide, distinct buff to white meta sandstone containing up to 5% coarse disseminated magnetite was noted. This unit is conformable with the regional foliation at Az 021 degrees, was confirmed by the recent ground magnetometer survey, and is offset circa 12m to the east of the targeted IP anomaly axis. The lack of shearing may indicate that the source of these IP and magnetic anomalies is primary sulfides and magnetite in distinct stratigraphic units.

This paleo sedimentary environment can also concentrate gold. Further IP, magnetic and auger soil sampling is planned to the East, North and South of the current program. A map showing Kubi East TR-01 to TR-06, sample locations and drill collars on the IP base is at: https://drive.google.com/file/d/1qaZTqqoTZeUJR-ovDXrvidvWxUrJnFax/view?usp=sharing

"Douglas R. MacQuarrie"
President and CEO
2020