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Asanko Gold Inc.
Summary
| Project: | Asanko Gold Mine | |
|---|---|---|
| Deposit: | Akwasiso | |
| Location: | Ghana | |
| Commodities: | Gold | |
| Date: | 3/8/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Active Mining & Production | |
| Report details: | 8-3-2017: Asanko Gold Inc. announces an Exploration/Drilling Update report for its Akwasiso deposit at the Asanko Gold Mine project. Drilling results incl. 54m @ 1.70g/t Au from 36.0m. Asanko Gold Inc. (“Asanko” or the “Company”) (TSX, NYSE MKT: AKG) is p | |
| Resources: | (Resource, M+I): 4.61Mt @ 1.20g/t Au for 0.18Moz Au contained at Akwasiso | |
| CP/QP: | [Overall Report]: Phil Bentley (Internal) | |
| ABSTRACT: | Asanko Gold Inc. (“Asanko” or the “Company”) (TSX, NYSE MKT: AKG) is pleased to announce positive initial results from the Akwasiso drilling campaign, which is currently underway targeting an upgrade of 3.85 million tonnes (“Mt”) of Inferred Resources containing 193,000 ounces of gold to an Indicated classification. Akwasiso is a large scale satellite deposit located 5 kilometers north east of the processing facility, which is in the process of being upgraded to increase throughputs from 3.6 million tonnes per annum (Mtpa) to 5Mtpa. The plant upgrade, “Project 5 Million”, is tracking well ahead of schedule and expected to be completed and ready for commissioning at the beginning of Q4 2017. The project’s capital costs, including the opening up of Esaase and the installation of the overland conveyor belt over the next two years, is fully funded from existing cash resources and cash generated from operations over this period. Project 5 Million is expected to further increase gold production in 2018 as well as lower All-in sustaining costs (“AISC”). Mining of the Akwasiso deposit is expected to commence during 2018 to augment mill feed from both the Nkran and Dynamite Hill pits, providing mining flexibility in anticipation of the commissioning of the Esaase pit and overland conveyor in H2 2018. The Akwasiso incremental, at surface oxide ounces are expected to have a lower cost profile than the current Nkran operations, thereby contributing to lowering AISC in 2018. The Akwasiso deposit is on an existing mining permit and only requires a supplementary permit application, which is well advanced. Asanko anticipates receiving full permits for Akwasiso in H2 2017. | |
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