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Ashanti Gold unveils further encouraging drill results at Kossanto East project in Mali

The company said results from drilling in the Gourbassi East main zone were promising and it continues to process and map out the results.
Ashanti Gold unveils further encouraging drill results at Kossanto East project in Mali
Ashanti Gold has three projects in Mali and Ghana

Ashanti Gold Inc (CVE:AGZ) has reported further drilling results at its Kossanto East project in western Mali.

The company released additional results today from its recently completed 105-hole reverse circulation and diamond drill 12,000-metre drill program.

The results released today and in recent weeks demonstrate promising results from drill holes in the Gourbassi East Main Zone.

WATCH: Ashanti Gold CEO reports 'high-grade, very big interval' drill results from Mali gold project

The company said it has also identified and tested three other target areas near Gourbassi East as well as Gourbassi West and it is waiting for results from these targets. 

"The laboratory is now sending back data regularly and as we process and map out the results, we are very excited about how Kossanto East is shaping up to be," said chief executive officer, Tim McCutcheon. 

Highlight assays included 24 metres (m) at 0.84 g/t (grams per ton) gold and 5m at 2.14 g/t gold — both from one hole.

READ: Ashanti Gold releases promising drill results at Kossanto East project in western Mali

Ashanti's recent 2018 drilling, 2017 drilling, and historic drilling define a 600m x >50m zone of gold mineralization at Gourbassi East main zone.

Additional mineralization along a separate zone to the southwest has been subdivided into its own zone and adds another 300m x 50m of mineralization.

In addition, Ashanti soil and historic soil sampling has defined extensive anomaly areas to the northeast and southwest of Gourbassi East. 

Shares of Ashanti were down 8.33% at at C$0.11 on Wednesday. 

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August 23 2018

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