Asanko Starts Construction of Phase 1 at Ghana Gold Mine

Asanko Gold Inc. (TSX:AKG,NYSEMKT:AKG) announced that the main construction work has started on Phase 1 of its Ghana-based Asanko gold mine. Starting in Q2 2016, Phase 1 should produce 200,000 ounces of gold per year at a steady state.

As quoted in the press release:

Following Board approval of the Project last month, main construction activities on site have now commenced. The bulk earthworks contract has been awarded and the contractor has mobilised to site. Initial work has begun on clearing ground for the 3 million tonne per annum gravity/carbon-in-leach processing plant, which is located near the main Nkran pit. Civil works and concrete pouring is expected to begin in the coming months to take advantage of the dry season in Ghana.

The tender process for the mining contractor is underway and the pre-stripping contractor for the Nkran pit will mobilise to site during Q4 2014.

Peter Breese, president and CEO of Asanko, commented:

This marks an important milestone for the Company and our stakeholders as we begin the main construction activity at the Asanko Gold Mine. We are expecting the construction activity at site to be complete over the next 18 months, with steady state production anticipated in Q2 2016.

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