Vancouver, British Columbia, July 18, 2022 (GLOBE NEWSWIRE) — Asante Gold Corporation (CSE: ASE | GSE: ASG | FRANKFURT: 1A9 | U.S.OTC: ASGOF) (“Asante” or the “Company”) is pleased to announce preparation of an updated NI 43-101 Technical Report for the Bibiani Gold Mine (“Bibiani” or the “Project”), operated by Mensin Gold Bibiani Limited (“Mensin Gold Bibiani”), a 90% owned Ghana subsidiary of Asante (the “2022 Technical Report”). The 2022 Technical Report has been prepared to the level of confidence of a Pre-Feasibility Study and will be filed on the Company’s SEDAR profile (www.sedar.com) within 45 days.
The 2022 Technical Report when filed will supersede the previous Bibiani JORC/NI 43-101 submissions by Resolute Mining Limited (“Resolute”) in 2018 (the “Resolute 2018 Technical Report”) and by Asante in November 2021, which were based on geological modelling for development of an underground mine (the “2021 Technical Report”). By re-configuring to open pit mining, Asante increased the 2021 Project Measured + Indicated Mineral Resources by 26.4% to 2.29 Moz. The Mineral Resource estimate included in the 2021 Technical Report does not include significant gold mineralization outlined beneath the current pit shells (see Figures 1 to 4 below).
In July 2018, Resolute, released an updated feasibility study for Bibiani (see Resolute’s ASX Announcement dated July 13, 2018) reporting JORC compliant Mineral Resources of 21.7 Mt at 3.6…
