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Vancouver, British Columbia – September 8, 2016 – Asante Gold Corporation (CSE:ASE) announces that it has reached agreement with Sikasante Mining Company Limited of Accra, Ghana (“Sikasante”) to earn up to a 100% interest in its Keyhole Gold Project in Ghana.
Vancouver, British Columbia – September 8, 2016 – Asante Gold Corporation (CSE:ASE) announces that it has reached agreement with Sikasante Mining Company Limited of Accra, Ghana (“Sikasante”) to earn up to a 100% interest in its Keyhole Gold Project in Ghana.
The Keyhole area is surrounded by Asante’s Ashanti II Gold project, and is strategically located at the intersection of three major regional gold mineralized trends:
- the Asankrangwa Gold Belt which hosts ~11 million ounces* of gold resources at the Asanko Gold Mine (formerly known as PMI Gold Corporation’s Obotan Mine), and Esaase gold projects located 36km and 60km respectively to the northeast;
- a major continental scale basement structure noted on regional aeromagnetic surveys which is spatially related to the 66 million ounce* AngloGold Ashanti Obuasi Mine and the 7.6 million ounce* Newmont Akyem Mine, located 57km and 130km to the east northeast; and
- the north trending Ankobra River lineament and its extensions which connects 90km to the south the +60 million ounces total resource* gold mines at Bogosu, Prestea and Tarkwa operated by Goldenstar, AngloGold Ashanti, and Goldfields, with Newmont’s 15.3 million ounce* Ahafo Mine 100km to the north. (*past production plus current resources).
Douglas R. MacQuarrie, President & CEO states, “The Keyhole has been a key acquisition target since the Keyhole-Obuasi-Akyem structure was outlined in the first modern airborne magnetic survey which I co-commissioned with Bob Quartermain in 1994. The World Class gold mineralization at Obuasi is at the intersection of this EW structure with the transition zone between volcanic belt/basin sediments and strong northerly linears. In my opinion, there is a striking structural similarity in the Keyhole area for the development of Ashanti Obuasi type deep seated gold mineralization amenable to large scale underground mining. The widespread gold in the alluvial cover, the strong gold ‘sniffs’ in nearby drilling and in the MEM showing, strongly suggest that sulfide concentrations at or near major structural intersections will be auriferous. We look forward to drilling MEM and commencing the IP survey as soon as funding is sourced.”
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