Asante Gold Initiates Mining at Bibiani Gold Mine's Russel Pit

Exciting Developments at the Bibiani Gold Mine

Asante Gold Corporation (CSE: ASE | GSE:ASG | FRANKFURT:1A9 | U.S.OTC:ASGOF) is thrilled to announce a major achievement in its operations. The company has successfully initiated mining activities at the Russel Starter Pit located at the Bibiani Gold Mine. This milestone follows the receipt of all necessary permits from local authorities, paving the way for the extraction of gold-rich minerals from this promising site.

Production Milestones and Strategic Goals

This development is part of Asante's ambitious plan to escalate gold production beyond 500,000 ounces by 2028. Dave Anthony, the President and CEO, expressed his excitement regarding this development, stating, "The start of production at the Russel pit highlights our commitment to optimizing our mining projects to ensure maximum output and profitability for our stakeholders." The Russel deposit boasts approximately 119,000 ounces of gold resources, with a favorable mining grade of 1.80 grams per tonne, aligning closely with the mineralogy of the broader Bibiani resource base.

Community Engagement and Infrastructure Development

The successful commencement of mining operations at Russel reflects extensive engagement with local communities, traditional leaders, and stakeholders. Through proactive discussions and collaboration, Asante has garnered substantial support for the project. Notably, local contractor Vuluxx Company Limited has been mobilized to assist with site preparation and haul road construction, illustrating the company’s commitment to fostering local employment and economic growth.

Permit Acquisition and Project Readiness

Key to the progress at Russel was the receipt of a supplementary permit from the Ghana Environmental Protection Agency, which validated Asante's mining operations in the area. Additionally, the Minerals Commission of Ghana has granted an updated Mine Operating Permit, further solidifying the operational framework.

Operational Strategies and Technological Advancement

Asante has engaged Vuluxx, a local contractor with a robust track record in mining operations, to handle critical infrastructure developments at the Russel site. The mining operations will employ advanced methodologies aimed at achieving a gold recovery rate of 90% through gravity and carbon-in-leach treatment processes. Initial grade control drilling is underway, with production expected to accelerate in the coming weeks.

Projected Output and Future Plans

The Russel Starter Pit will undergo an initial operational phase of 15 months, with plans for subsequent phases to follow. The mine is projected to yield approximately 1.9 million tonnes of gold ore at a grade of 1.62 grams per tonne over a total operational timeline extending to 30 months. This new influx of material will enhance production levels from the Main Pit, complementing ongoing extraction activities.

Continuous Exploration and Resource Development

Looking ahead, Asante is diligent in extending the known resource at Russel, aiming to enhance its viability for potential underground mining methods. The ongoing drilling program is designed to validate existing mineralization and explore additional opportunities on the property, in line with Asante’s strategic vision for sustainable growth and exploration.

About Asante Gold Corporation

Asante Gold Corporation is a distinguished entity in the gold exploration, development, and operating sector, with an impressive portfolio of projects centered in Ghana. Asante not only operates the Bibiani and Chirano Gold Mines but is also conducting technical studies for the Kubi Gold Project. The company is recognized for its proficient mining team and commitment to responsible and community-focused mining practices.

Engagement with Local Communities

Asante has taken substantial steps toward building strong connections with local communities, exemplified through their collaborations with Vuluxx and other stakeholders. The local partnerships are a testament to the company's intention to ensure that the benefits of mining extend to the surrounding communities, helping to foster socio-economic development.

Frequently Asked Questions

What is the significance of the Russel Starter Pit?

The Russel Starter Pit is crucial for Asante's goal to increase its gold production, projecting significant resource yield contributing to the company’s long-term success.

How has Asante engaged with local communities?

Asante has actively engaged with local communities, traditional leaders, and stakeholders to ensure support and collaboration for their mining operations.

What technologies are being used at the Russel Starter Pit?

Asante is employing advanced mining methodologies, including gravity and carbon-in-leach treatment processes, to maximize gold recovery.

What is the projected timeline for production at Russel?

Production at the Russel Starter Pit is expected to commence fully by October, with initial operations projected over 15 months, followed by a continuation phase.

How does Asante plan to expand its resource base?

Asante plans to extend the known Russel resource through ongoing drilling and exploration activities, aiming to validate and potentially upgrade the mineralization for underground mining.

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