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Asante Gold Corp.

Asante Gold wants to continue exploring Kehole option after encouraging drill assays

Highlight assays included 15.9 g/t (grams per ton) gold over 0.88 metres (m), 7.05 g/t gold over 1m..

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The firm said it was "highly encouraged to aggressively continue exploring the option".

Asante Gold Corp (CVE:ASE, CNSX:ASE) said it wants to aggressively continue exploring its Keyhole option property in Ghana, as it released final assays.

These come from the six-hole, 790-metre second phase diamond drilling program.

Highlights included 15.9 g/t (grams per ton) gold over 0.88 metres (m), 7.05 g/t gold over 1m and 4.36 g/t  over 1m.

"Further to the company's phase 1 drill results announced on April 27, 2017, the MEM shear zone has now been traced for a distance of 825 metres and to depths of 150 m and is open along strike and to depth," the firm said.

"Visible gold was noted in multiple intersections in the sulphide and quartz mineralized shear zone, with grades to 15.9 grams per tonne gold."

Due to the high grades, the significant strike and depth potential of this shear, as well as the prospect of finding other mineralized shears, management is "highly encouraged to aggressively continue exploring the option".

Further acquisition of land is well advanced, and when complete, further geophysical surveys are planned to locate other shear zone/dilational breaks, and further drilling to test down dip of the high-grade section of the MEM shear is planned subject to available financing.

The group also revealed it aims to raise further working capital via a private placing and to complete a shares-for-debt financing with interested creditors.

Quick facts: Asante Gold Corp.

Price: $0.07

Market: CSE
Market Cap: $4 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