Guskin Gold, operators of the Tepa Gold Mine, which is set to begin operations at the mine after mining equipment were delivered today, June 27, 2022, will provide cash flow and funds to the Kukuom project.
The mine which is located along the eastern-part of the Sefwi-Bibiani Gold Belt, presents a “solid commercial resource” for the company and will ensure profitability.
High gold prices continue to underpin the company’s value proposition and growth potential. The cash flow from Tepa will sustainably aid in the growth of the Company as well as prove to be beneficial to shareholders and the communities.
Among items delivered for the start of operations included two high-efficiency Sany excavators, two wash plants, shaker and gravity table, generators, water pumps, piping, and all necessary gear to begin production and processing, the company stated in a press release.
Personnel, currently numbering thirty-two (32), and under the leadership of Mr. Peter Tomety, Guskin Gold’s Mine Manager, include a cross-disciplinary team of heavy equipment operators, geologists, field crews, security teams, and support members including community relations, and health and safety.
Mrs. Naana Asante, CEO of Guskin Gold, overseeing the opening of the mine said:
“A solid and commercial resource has been established and we are almost ready to start gold production on this project. I am confident in our team, pleased with their progress, and believe we can begin operating a highly profitable mine and add significant value to the community, our partners, and our shareholders.
“This project further solidifies Guskin Gold’s role as a premier partner in Africa’s number one mining region and demonstrates our model- mining alluvial gold for cash flow to provide operation and exploration funds for our hard rock Kukuom property project, the crown jewel in our portfolio and a highly coveted prospect.”
Mrs, Naana Asante
Guskin’s Tepa Project
As previously announced on February 8, 2022, the Company entered into a Joint Venture and Partnership Agreement with Ensuro Group of Companies Limited for the exploration, development, exploitation, commercial production, and operations of the Tepa gold project.
Per the Joint Venture Agreement EGCL granted Guskin Gold Ghana an exclusive seventy percent (70%) ownership interest in the Tepa 50-acre property for the purpose of commercially producing alluvial gold.
The Company completed an economic feasibility study in February 2022 and concluded Tepa provided a profitable alluvial mining operation. The geologic nature of the Tepa deposit includes both alluvial and eluvial gold deposits.
The gold is of fine to medium grain with few flowery and floating types. The distribution of the gold is found in the overlying silty sand as well as the underlying gravel horizons. The overlying silty sands are all part of the payload to be washed and can be processed for gold, the release stated.
Mr. Peter Tomety, Guskin Gold’s Mine Manager said:
“We are pleased to report all equipment and personnel have arrived safely on site. We are assembling and performing routine maintenance on all machinery and reviewing mine safety and operation protocols and procedures with our team- many of whom are local miners we are pleased to welcome to the Guskin family.
“I am excited to launch operations and create a highly productive, efficient, and safe working environment.”
Peter Tomety
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