Kubi resource estimated 112K Oz

Asante Gold Corporation announces that anomalous high induced polarization (IP) survey results have been noted vertically above a previous drill intersection that graded 3.0m of 4.5g/t gold. This new IP anomaly is located just 150m to the east of the Kubi Main gold resource and has a significant strike and inferred dip potential.

 

The intersection, in drill hole KV97-143 from the 1997 Nevsun Resources Ltd. Kubi Main resource drilling program, was not followed up at the time because it was off trend and in the footwall of the targeted Kubi Main gold zone. The gold mineralization is associated with shearing, abundant garnet and 6.0% to 8.0% pyrite/pyrrhotite at a vertical depth of 360m, centered below the IP anomaly and hosted in steeply dipping Tarkwaiian meta-conglomerates.

 

The second, of the two drill holes which have tested this IP anomaly, KV95-12, also intersected a garnet/sulfide horizon from 138.0 to 148.0m down hole at a vertical depth of 98m. This interval was not assayed for gold at the time and the core is no longer available.

 

Douglas MacQuarrie, President and CEO states, “At the Kubi Main gold deposit, the tenor of the gold mineralization is directly related to the sulfide content in a distinct garnet, sulfide and quartz rich unit. The confirmation of strong gold, garnet and sulfide mineralization in the previously not targeted Tarkwaiian conglomerates and the numerous IP high anomalies recently discovered, opens up extensive opportunities for resource expansion at Kubi.”

 

Scientific and technical information contained has been reviewed and approved by Douglas R. MacQuarrie said,  Kubi Main Zone has a current resource estimate, completed by SEMS Exploration Services Ltd. of Accra, Ghana: Measured Resources is of 112,000 ounces; Indicated Resources 0.66 million tonnes @ 5.65g/t for 121,000 ounces; and Inferred Resources 0.67 million tonnes @ 5.31g/t for 115,000 ounces, which is filed on SEDAR. 

  • Kubi resource estimated 112K Oz