Asante Gold Acquires 100% Interest in Betanase Permit, Ghana

Asante Gold Corporation (CSE:ASE) has entered into an agreement with Perseus Mining to acquire up to a 100% interest in their Betanase Permit in Ghana, which adjoins the currently-optioned Kubi Mining lease to the east. Betanase covers 12.0 sq km to the northeast of the Kubi Main deposit gold trend, with previous best work results at 16m from 52.0 to 68.0m grading 1.455 g/t Au in drill hole LRC045.
As quoted in the press release:

Betanase covers an area of 12.0 sq km on the extension to the northeast of the Kubi Main deposit gold trend (NI 43-101 resource estimate by SEMS Exploration Services Ltd. of Accra, Ghana: Measured Resources 0.66 million tonnes @ 5.30g/t for 112,000 ounces; Indicated Resources 0.66 million tonnes @ 5.65g/t for 121,000 ounces; and Inferred Resources 0.67 million tonnes @ 5.31g/t for 115,000 ounces – please refer to the full report filed on Sedar); and also covers a strong gold in soil anomaly located 5 km to the east of the Kubi Main deposit.
Previous work conducted over the Betanase permit area by Perseus consisted of 1,569 soil samples and 26 reverse circulation drill holes totaling 2,346m in the Lagos galamsey pit area on the Kubi Main trend. Best result was 16m from 52.0 to 68.0m grading 1.455 g/t Au in drill hole LRC045. Three other holes intersected 4m lengths grading 1.05 to 1.75 g/t Au.
The Betanase soil anomaly, to the Company’s knowledge, has not been drill tested and is over 1.4km in length with a 700m long core outlined by the 200 ppb gold in soil contour. Extensive galamsey alluvial workings extend over a distance to 4 km to the north and 300 m west of a small hill which corresponds with the anomalous soils. A program of ground IP and VLFEM geophysics and additional soil sampling has commenced to define potential drill collar locations.
The Company may exercise the option to earn a 100% interest in Betanase (subject to 10% reserved for the Government of Ghana, and 1% underlying NSR royalties) by completing US$1million in exploration within four years and by paying US$1million to Perseus. Completion is subject to the receipt of all necessary governmental consents and approvals. Betanase is located within 5km of Kubi, and in the event the option is fully exercised, will also be subject to and included in the area of influence of the definitive Kubi Option Agreement between the Company and Goknet Mining Company Limited announced on March 3, 2015.

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