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Asante Gold shares surge as it extends Keyhole discovery in Ghana

The firm said the work had extended the mineralized shear zone outlined in the first phase

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Asante Gold Corp workers

Shares in Asante Gold Corp (CVE:ASE, CNSX:ASE) shot up in Toronto on Tuesday as it unveiled highly encouraging drill results from the Keyhole option property in Ghana.

The firm said work (a second phase) had extended the mineralized shear zone outlined in the first phase to a length of 650m (meters) and to a depth of up to 150m.

Shear zones host most of the major gold deposits in Ghana, Asante noted.

Meanwhile, one hole - MEM17-11C - has hit a 3.5m wide sulfide and quartz mineralized shear zone with visible gold.

Notably, this hole was drilled on the same secion and 25 meters under the high grade gold discovery hole MEM17-001B, which hit 13.12g/t gold over 3 meters) .

Drilling is continuing to test this shear zone along strike, the group said.

Asante shares shot up almost 43% in Toronto to C$0.10.

Quick facts: Asante Gold Corp.

Price: 0.04 CAD

CSE:ASE
Market: CSE
Market Cap: $2.36 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 04/28/2017

2 min read