The Conversation (0)
Asanko Gold Inc. (TSX:AKG,NYSEMKT:AKG) announced a construction update on its Ghana-based Asanko gold mine. The first phase will produce 190,000 ounces of gold a year, and first gold pour is set for Q1 2016.
Asanko Gold Inc. (TSX:AKG,NYSEMKT:AKG) announced a construction update on its Ghana-based Asanko gold mine. The first phase will produce 190,000 ounces of gold a year, and first gold pour is set for Q1 2016.
Highlights include:
- Phase 1 construction 24% complete and on schedule for first gold in Q1 2016.
- Project spend on budget with US$170 million of the US$295 million capital cost committed.
- Mining contractor mobilized to site and pre-stripping of the main Nkran pit underway.
- Ball and SAG mill concrete foundations poured prior to Christmas contractor shutdown
- Pit dewatering commenced in December with water levels reducing by approximately 2 metres
Peter Breese, president and CEO of Asanko, commented:
Construction of Phase 1 of our flagship project, the Asanko Gold Mine, is proceeding according to schedule and on budget. The plant site is advancing rapidly, with all the key infrastructure foundations established. The pre-mining work has also commenced, with the Nkran pre-stripping operations underway in advance of ore mining operations commencing in Q3 2015.
The next key milestone for the Company will be the publication of the feasibility study on Phase 2 at the end of Q1 2015, which is expected to demonstrate the value of developing the adjacent Esaase deposit and expanding production up to 400,000 ounces of gold per annum.
Click here to read the full Asanko Gold Inc. (TSX:AKG,NYSEMKT:AKG) press release.