Asante Gold Corporation (AGC) is pleased to announce results from its ongoing exploration drilling program at the Aboduabo prospect located on our Bibiani – Chirano mines corridor, Sefwi Greenstone Belt, Ghana.

Ever since the Company announced initial exploration results on January 17, 2023, nineteen (19) holes totaling 4,300m have been completed to date. The drilling program has been accelerated and new intercepts confirm near surface, high grade mineralization, with increased widths. The gold mineralization remains open along strike and to depth.

The Aboduabo prospect is located approximately 5km north of the Chirano Process Plant and 10km south of the Bibiani Process Plant. It lies within the Bibiani mineralized trend and is hosted in Birimian sedimentary rock sequences.

Meanwhile, the Chirano gold deposits are primarily hosted in Birimian volcanic and granitoid sequences along the sub parallel Chirano trend.

New drill intercepts include CHDD3347, which intersected 43.10m grading 3.07g/t Au; including 9.95m grading 6.85 g/t Au. According to the company, all holes intersected gold mineralization remains open in all directions.

Footprint of gold mineralization tested and confirmed over 1km strike length also remains open along strike and depth. There are several mineralized intercepts indicate grade and width that are amenable to open pit mining.

Additional Drilling Underway

Additional drilling is currently underway to follow up on these drill results. Selected intercepts include: CHDD3347 – 43.10m at 3.07 g/t Au from 169.5 to 212.6m; includes 9.95m @ 6.85 g/t Au from 196.0m to 205.95m; CHRC3359 – 26.0m @ 3.12 g/t Au from 121.0m to 147.0m, includes 18.0m @ 4.19 g/t Au from 123.0m to 141.0m; CHRC3350 – 15.0m @ 2.65 g/t Au from 85.0m to 100.0m, includes 7.0m @ 4.44 g/t Au from 85.0m to 92.0m; CHRC3357- 17.0m @ 1.74 g/t Au from 44.0m to 61.0m, includes 5.0m @ 4.22 g/t Au from 55.0m to 60.0m; CHRC3348D – 13.2m @ 1.59 g/t Au from 199.3m to 212.5m.

Dave Anthony, President and CEO of Asante Gold Corporation expressed his happiness about the results, while highlighting the potential of the results.

“We are pleased to report these additional assay results from our exploration drilling program at Aboduabo. These results highlight the potential of this deposit, which is close to surface and mineralized over an area up to 130m wide x 1km long.

“The drill program to advance the target to resource definition has been accelerated. These results demonstrate the significant exploration potential that remains along the Bibiani – Chirano Corridor.”
Dave Anthony

Meanwhile, the Sefwi Greenstone Belt is host to historically significant gold mining operations including our Bibiani and Chirano mines which have produced +8Moz to date from shear faults and veins. Asante controls a 53km long by up to 5km wide corridor which is transected by both the Bibiani and Chirano shear zones.

Bibiani and Chirano together have current mineral reserves of ~2.8Moz and Measured and Indicated mineral resources over 4.5Moz. The Company is exploring the corridor for new discoveries, to grow our mine and near mine resources, and to increase the Life of Mine at both operations.