Asanko Reports Phase 1 Mine Construction 60 Percent Complete

Asanko Gold Inc. (TSX:AKG,NYSEMKT:AKG) released a construction update on Phase I of its Ghana-based Asanko gold mine, noting that the first gold pour remains on track for the first quarter of 2016.
Highlights include:

• Phase 1 construction 60% complete and on schedule for first gold in Q1 2016.
• Full mining fleet mobilized and achieving above planned production levels +/- 100,000 tonnes per day.
• Pit dewatering over 55% complete and water levels reduced by 24.3 metres.
• Installation of SAG & Ball Mills underway.
• Project tracking budget with US$138 million of the US$295 million capital cost spent.

The press release also states:

Phase 1 will be a low cost, long life mine producing 190,000 ounces of gold per annum at steady state, with the first gold pour on track for Q1 2016.
Project construction remains on schedule with 60% of the overall project complete and around 2,443 employees and contractors on site, as at the end of June 2015. Concrete civils are 66% complete and steel, mechanical and platework 54% complete. All critical path items are in hand and on time. Procurement is practically complete with US$286 million committed out of the total capital budget of US$295 million. US$138 million has been spent up to June 30, 2015.

Peter Breese, president and CEO of Asanko, commented:

Construction of Phase 1 continues to advance according to plan and budget, which is very encouraging. Mining operations have hit their stride with the entire PW mining fleet fully mobilized and current mining levels exceeding the plan. The plant site construction is progressing very well and with the Project now nearing 2/3^rds completion, we remain confident that we will be able to deliver this project on time and within the capital budget of US$295 million.

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