Ashanti Gold Corp (CVE:AGZ) reported today that it has discovered a new gold zone at its Kossanto East project in western Mali.
The new gold-mineralized zone, named the Kadi zone, is located approximately 1km northeast of the main zone, in Gourbassi East.
Highlight assays included 8 metres (m) at 1.83 grams per ton (g/t) gold and 10m at 1.93g/t gold.
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"The discovery of the Kadi zone is important as it potentially adds more mineralized material to what Ashanti has already identified at Gourbassi East and West," said Tim McCutcheon, chief executive officer.
"Along with collecting data to complete a resource report, this most recent drill campaign was designed to show upside potential of the Kossanto East project, and Kadi clearly does this. More results are due to come and I look forward to sharing them with you."
The company said three drill holes spaced approximately 75m apart have shown gold mineralization within a northwest-trending, moderately west-dipping shear zone up to 20 m wide.
This shear zone is the contact between granitic rocks in the footwall and felsic tuff in the hangingwall. To the southeast, silica breccia rock lies along the strike extent of the shear zone. The company plans to further drill test this zone along strike and down dip.
Ashanti's recent 2018 drilling, 2017 drilling and historic drilling define a 600m by over 50m zone of gold mineralization at the Gourbassi East Main zone.
Additional mineralization along a separate zone to the southwest has been subdivided into its own zone (Sana zone) and adds another 300m by 50m of mineralization.
In addition, soil sampling (both current and past) has shown anomalies to the northeast and southwest of Gourbassi East.
Ashanti's 2018 program partially drill tested these new areas of interest.