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Asante Gold to start drilling again at Keyhole option in Ghana

Asante Gold Corp (CVE:ASE, CNSX:ASE) will start second phase drilling at the MEM area of the Keyhole option property in Ghana in the middle of this month. It is looking for new gold deposits. All of the significant gold values noted so far in the area are located within areas of anomalous high geophysical IP (induced polarization) results, the firm noted.

Asante Gold to start drilling again at  Keyhole option in Ghana
Looking at drill core

Asante Gold Corp (CVE:ASE, CNSX:ASE) will start second phase drilling at the MEM area of the  Keyhole option property in Ghana in the middle of this month.

It is looking for new gold deposits.

All of the significant gold values noted so far in the area are located within areas of anomalous high geophysical IP (induced polarization) results, the firm noted.

The work will see 800 metres of diamond drilling completed to follow up on the high-grade gold discovery from drill hole MEM17-001B, which hit 13.12 grams per tonne (g/t) gold over three metres at a depth of 120 metres below the historical MEM showing.

"The strong correlation of gold mineralization with high geophysical IP results in the MEM area gives us a powerful tool to explore for new gold deposits under the extensive alluvial mined areas which have not been explored to date," said Douglas R. MacQuarrie, president and chief executive of Asante.

"These areas stretch over two kilometres to the north and south of the MEM showing."

The Keyhole option covers a 6km long section of the Ankobra River and lies  at the intersection of three major regional gold-mineralized trends.

Keyhole is under option from Sikasante Mining and adjoins Asante's Ashanti II gold project.

Asante can earn up to 100% of the project by completing $500,000 in work over four years, issuing 1.25 million shares and reserving for Sikasante a 2% net smelter return (NSR) royalty.

Quick facts: Asante Gold Corp.

Price: 0.05 CAD

CSE:ASE
Market: CSE
Market Cap: $2.95 m
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Asante Gold's Douglas MacQuarrie talks through 'encouraging' Keyhole...

Douglas MacQuarrie, chief executive of Asante Gold Corp ( CVE:ASE, CNSX:ASE,) tells Proactive they've seen some encouraging results from first drilling at the Keyhole option property in the Asankrangwa gold belt in Ghana, which have prompted an expanded exploration program. The work...

on 29/4/17

2 min read