Important Initial 2018 Diamond Drill Results, Gourbassi East, Kossanto East Project, Mali

Source Press Release
Company Ashanti Gold Corp. 
Tags Production/Development, Exploration, Strategy - Upstream, Financial & Operating Data, Upstream Activities
Date July 03, 2018

Ashanti Gold Corp. (“Ashanti” or the “Company”) (TSX-V:AGZ) is pleased to announce additional 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 the first two diamond drill holes from the Gourbassi East main zone; GEDD223 and GEDD250.  Both holes include multiple mineralized zones with multi-metre, multi-gram intercepts with local high grade zones.  Additionally we present below results from additional RC holes. Highlights are tabulated below:

DD hole results:

Hole  From 
(m) 
To 
(m) 
Interval* 
(m) 
Grade (g/t 
Au) 
GEDD223  90  102  12  0.72 
incl.  97  101  1.65 
  122  134  12  0.82 
incl.  132  134  2.29 
  198  200  1.49 
  217.1  221.47  4.7  0.47 
         
GEDD250  127.3  144.3  17  1.84 
incl.  134.3  166.3  4.60 
  160.3  166.3  0.99 
  195.3  206.0  10.7  8.02 
incl.  200.3  205.0  4.7  18.59 


RC hole results:

Hole  From 
(m) 
To 
(m) 
Interval* 
(m) 
Grade (g/t 
Au) 
GERC238  16  18  5.00 
  84  87  2.04 
GERC245  86  95  2.33 
incl.  87  92  3.28 
  112  120  5.48 
  173  183  10  1.93 
incl.  173  178  3.37 


*Intervals indicated are not true widths as there is insufficient geologic information to calculate true widths.  However, drill holes have been drilled to cross interpreted mineralized zones as close to perpendicular as possible.

These holes, and others with results to follow, test Gourbassi East Main Zone 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 multiple mineralized zones of mineralization interpreted and predicted from previous drilling and thereby will support favorably geologic and resource modeling. Note that hole GEDD223 ended in mineralization.

Tim McCutcheon, CEO, said, "Great results with more coming as the laboratory in Bamako continues to send Ashanti assay data. Looking forward to sharing more data and sections as they are available."

Source: EvaluateEnergy® ©2019 EvaluateEnergy Ltd