Ashanti Gold Corp.: Positive Initial 2018 Drill Results, Kossanto East Project, Mali

Source Press Release
Company Ashanti Gold Corp. 
Tags Strategy - Upstream, Upstream Activities
Date June 28, 2018

Ashanti Gold Corp. (“Ashanti” or the “Company”) - (TSXV:AGZ) is pleased to announce its first assay results from the recently completed 105 hole Reverse Circulation (“RC”) and Diamond Drill (“DD”), 12,283 metre drill program that tested mineralization on the Kossanto East Project (the “Property”) in western Mali.  These results report assay data for three drill holes from the Gourbassi East main zone and include GERC242, GERC243 and GERC245.  All three holes include multi-metre, multi-gram intercepts with local high grade zones.  Highlights are tabulated below:

Hole  From
Grade (g/t Au) 
GERC242  14  62  48  1.34 
incl.  17  20  3.57 
  37  41  2.98 
GERC243  19  13  1.17 
  40  45  1.77 
  89  97  3.34 
  110  144  34  1.80 
incl.  126  130  8.38 
GERC245  86  95  2.33 
incl.  87  92  3.28 
  112  120  5.48 
  173  183  10  1.93 
incl.  173  178  3.37 

These holes, and others with assay results to follow, test mineralization down dip, along strike and along section fences to provide sufficient data for a resource estimate later this year.  Importantly, mineralized intervals reported here lie along zones of mineralization interpreted and predicted from previous drilling and thereby will favorably support geologic and resource modeling.

Tim McCutcheon, CEO, said, “These results confirm our interpretation of Gourbassi East’s geology and we are looking forward to receiving and releasing further results from our drill program.  Results from other holes will provide further information at Gourbassi East, the strike and dip extent, as well as mineralization to the southwest of the main zone along with other targets. We will soon release diagrams and cross sections incorporating past and current data.  The Kossanto East Project continues to excite the Ashanti team and stakeholders and has not gone unnoticed by other miners in the region.”

About Kossanto East Project 
The Kossanto East Project is a 66.41 km2 concession in the prolific Kedougou - Kenieba Inlier, the northwestern most exposure of Birimian rocks in West Africa and host to the Loulo and Sadiola group of world class gold deposits.  The Property hosts two principal historically drill-tested targets, Gourbassi East and Gourbassi West and several surface anomalies identified in historic surface samples and Rotary Airblast (RAB) drill holes. Geochemical anomalies identified by previous explorers led to drill testing and successful intersection of gold mineralization. The results reported here are from Gourbassi East. Further results from Gourbassi East and Gourbassi West are anticipated in the coming weeks.

Source: EvaluateEnergy® ©2019 EvaluateEnergy Ltd