Ashanti Expands Sana Zone at Gourbassi East, Kossanto East Project, Mali; 5m of 2.40 G/t Gold and 8m of 1.46 Gold (including 3m of 3.12 G/t Gold)

Source Press Release
Company Ashanti Gold Corp. 
Tags Strategy - Corporate
Date July 20, 2018

Ashanti Gold Corp. (“Ashanti” or the “Company”) - (TSXV:AGZ) is announces 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 (Figure 1).  Results presented here and previously (see July 13, July 3 and June 28 Press Releases) demonstrate strong positive results from drill holes at Gourbassi East.  Results reported here broaden the width and increase the down-dip extent of known mineralization of the Sana Zone, Gourbassi East.  In addition, widely spaced reconnaissance drill holes have yielded significant results along the new Koli Zone where surface soil anomalies, historic RAB and trench results along with altered felsic tuff at the surface indicated the presence of more extensive mineralization.  The Company awaits further results from the Gourbassi East Main Zone and from Gourbassi West and will release these results shortly.

Tim McCutcheon, CEO, said “What we liked about Kossanto East when we acquired the project was a significant amount of exploration risk had been removed by the previous operator and that those previous results were very attractive. However, where we saw the main opportunity, and the added value of the Ashanti team, was the potential for demonstrating much larger areas of mineralization throughout the license. The growth of the Sana Zone and scope for future growth of the Koli Zone fits our thesis for Kossanto East’s potential.”

A photo accompanying this announcement is available at 

Sana Zone
Gold mineralization associated with altered rhyolite and felsic tuff to the southwest of the Main Zone was previously tested by Ashanti’s 2017 drilling program which verified and expanded on limited historic drilling.  The 2017 program resulted in identification of a northwest-trending west-dipping gold mineralized zone approximately 300m long and 50m wide.  The first 2018 results reported here demonstrate a broader zone of mineralization (approximately 70m wide) and greater down-dip continuity (at least 120m).  Gold mineralization at the Sana Zone is associated with silicification, quartz-sericite-pyrite (QSP), carbonate and possible albite alteration occur along with multi-stage veinlets and disseminated gold mineralization, similar to that within the Main Zone.  Figure 3 shows a cross section of results at the Sane Zone. Highlight intercepts for Sana Zone drill holes are reported below.

Hole  From 
GERC204  0.77 
  14  22  1.16 
  33  41  1.46 
incl.  34  37  3.12 
  72  76  0.54 
  115  121  1.53 
GERC205  2.40 
incl.  4.82 
  13  15  1.55 
  31  37  1.07 
  40  42  0.39 

*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.

A photo accompanying this announcement is available at 

A photo accompanying this announcement is available at 

Koli Zone
The Koli Zone is an emerging new mineralized area in which Ashanti’s 2018 reconnaissance drilling tested northwest-aligned areas with artisanal workings, altered rhyolite and felsic tuff, soil anomalies, and historic intercepts in shallow RAB holes and trenches over a broad area approximately 1200m by 400m.  Results indicate the presence of gold mineralization along several smaller corridors.  Figure 2 shows the relative location of the Koli to the Gourbassi East are and Figure 4 shows important data demonstrating gold mineralization results over multiple exploration seasons. Further testing of this area is planned for the future.

Source: EvaluateEnergy® ©2019 EvaluateEnergy Ltd