Golden Star Resources Ltd. (TSX: GSC) announced that it has more than doubled its inferred mineral resources estimate for its Wassa Underground gold mine in Ghana.
Highlights are as follows:
- 3.1 million ounce (147 percent) increase in Inferred Mineral Resource estimate at Wassa Underground to 5.2 million ounces of gold (44.9 million tonnes at 3.6 grams per tonne (“g/t”) of gold (“Au”)), compared to December 31, 2017 estimate
- 9 percent increase in grade of Wassa Underground’s Inferred Mineral Resources from 3.3 g/t Au to 3.6 g/t Au
- Updated Inferred Mineral Resource estimate includes results of 9 drill holes reported previously from Wassa Underground, one deepened hole and 2 new mother holes drilled subsequently
- Assay results from two new mother holes confirm that high grade gold mineralization extends approximately 75 metres (“m”) up dip and approximately 150 m down dip of previously intersected high grade zones
- Significant intercepts from the 2 new mother holes were as follows:
- 58.5 m grading 4.8 g/t Au from 1,007.0m in hole BS18DD388M
- 18.3 m grading 4.3 g/t Au from 696.0m in hole BS18DD389M
- Preliminary Economic Assessment (“PEA”) on the Inferred Mineral Resources of Wassa Underground expected to commence late in the second quarter of 2018
Sam Coetzer, president & CEO, commented:
By more than doubling the Inferred Mineral Resources at Wassa Underground, we have begun to demonstrate the compelling potential of this asset in the longer term. We had believed for some time that Wassa was a larger deposit than previous estimates suggested and as the deposit remains open to the south, we believe that further upside exists still.
Wassa Underground has ramped up well and this operational success forms a solid foundation for the next stage of the mine’s growth. We have under-utilized capacity within Wassa’s processing plant and the southern portion of the deposit represents the potential to ‘fill the mill’ and increase production. I am looking forward to commencing the PEA and to exploring further the viability of this strategy.