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Golden Star REsources (TSX:GSC) has announced its exploration strategy for 2017: As quoted in the press release: HIGHLIGHTS Three key objectives of the 2017 exploration strategy are as follows: To define additional Indicated Mineral Resources to increase the supply of high grade, underground ore to the processing plants in the near term To define additional …
Golden Star REsources (TSX:GSC) has announced its exploration strategy for 2017:
As quoted in the press release:
HIGHLIGHTS
- Three key objectives of the 2017 exploration strategy are as follows:
- To define additional Indicated Mineral Resources to increase the supply of high grade, underground ore to the processing plants in the near term
- To define additional Inferred Mineral Resources to increase the lives of both of Golden Star’s operations in the medium term
- To identify the potential of Golden Star’s 1,156 square kilometre concession area to generate targets for drilling and to establish long term production potential
- First phase of 2017 exploration program is expected to comprise 48,000 metres (“m”) of drilling – further drilling may be conducted subject to the results received
- 171% increase to 2017 exploration budget from the Company’s previously announced 2017 exploration budget to $6.5 million for the first phase of drilling
- Drilling has begun on the initial targets, which include the Prestea Underground Gold Mine (“Prestea Underground”), the Prestea Open Pits and the high grade, Mampon deposit
Sam Coetzer, President and Chief Executive Officer of Golden Star, commented:
“During 2016 our focus was on delivering our two underground development projects, but I am pleased that we are now in a position to turn part of our focus back to exploration. I believe strongly that our assets present an exploration upside opportunity, with both Wassa Underground and Prestea Underground having the potential to expand production on an annual basis and extend their mine lives beyond the current seven and five years respectively. I am excited that we have enlarged the size of our exploration program for 2017 to crystallize these opportunities and to drive our assets further along the value curve. If the results of the first phase of the drilling program are positive, we expect to allocate further funds for phase two of the exploration program later in 2017 and I look forward to releasing the drilling results during the course of the year.
