Asanko Gold Announces Initial Resource Estimate

Asanko Gold Inc. (TSX:AKG NYSE:AKG) announced a mineral resource estimate for phase 1 of its gold mine in Ghana. Phase 1 is currently under construction and expected to produce first gold in the first quarter of 2016, with steady state production of 200,000 ounces of gold per year by the second quarter.

Studies are underway to incorporate Asanko’s adjacent Esaase deposit as Phase 2 with the potential to expand operations up to 400,000 ounces of gold per year.

According to the press release:

The results of the new MRE for Phase 1 are not materially different to the 2012 MRE and therefore confirm the validity of the previous estimate. Importantly, however, the new MRE more precisely represents grade distribution and continuity within the deposits, and, as a result, the model now supports the ability to plan the mine with the selectivity required to manage grade control and volumes.

Click here to read the Asanko Gold Inc. (TSX:AKG,NYSE:AKG) press release.