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Asanko Gold Inc.
Summary
| Project: | Asanko Gold Mine | |
|---|---|---|
| Deposit: | Akwasiso | |
| Location: | Ghana | |
| Commodities: | Gold | |
| Date: | 4/27/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 27-4-2017: Asanko Gold Inc. announces a Resource Estimation report for its Akwasiso deposit at the Asanko Gold Mine project. Update increases Akwasiso resources by 79% and reserves by 62%. Asanko Gold Inc. (“Asanko” or the “Company”) (TSX, NYSE MKT: AKG) | |
| Resources: | (Reserve, Prob.): 3.83Mt @ 1.74g/t Au for 0.21Moz Au contained at Akwasiso | |
| CP/QP: | [Resources]: Malcolm Titley, Kathleen Hansmann, Phil Bentley (CSA Global Pty Ltd.;Internal) | |
| ABSTRACT: | Asanko Gold Inc. (“Asanko” or the “Company”) (TSX, NYSE MKT: AKG) is pleased to announce an updated Mineral Resource and Reserve Estimate for the Akwasiso deposit, part of the Asanko Gold Mine located in Ghana, West Africa, following the successful completion of the infill drilling campaign to upgrade previously reported Inferred Resources into the Indicated category. Compared to the December 31, 2016 Mineral Resource Estimate (“MRE”), the updated Akwasiso MRE has increased Indicated Resources by 79% to 6.72 million tonnes at 1.49 g/t for 322,500 contained gold ounces (refer to Table 1). The Resource grades have improved significantly by 24% from 1.20 g/t to 1.49 g/t. The updated MRE has been signed off by CSA Global (UK) Ltd. Peter Breese, President and CEO, commented “It is pleasing to note that the prospectivity of our large scale tenement package in Ghana continues to deliver significant low cost ounces. Since acquiring the deposit in mid-2016, we have spent just $8 per Resource ounce on the drilling program at Akwasiso and added significant reserves at quality grades, all within a short trucking distance of our processing plant. 2 The significant increase in Akwasiso’s reserves further boosts the near-term, near mine ore inventory available to support the increased mill throughput to 5Mtpa. With ore containing more than 166,000 ounces already pre-developed at Nkran, which don’t require any further capital development to access, 130,000 ounces of at surface reserves at Dynamite Hill and 214,000 ounces of reserves at Akwasiso, we have more than sufficient ore inventory to maintain our 2017 production profile and to support the expanded production profile of the Asanko Gold Mine in 2018 and 2019 whilst we build the conveyor and bring Esaase into production. With the significant contribution from at surface ounces, we expect to benefit from both an increase in production as well as the corresponding decrease in costs over this period.” | |
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