17 metres of 2.74 g/t gold (including 1 metre of 30.13 g/t gold), and 60 metres of 1.05 g/t gold
Vancouver, British Columbia--(Newsfile Corp. - August 21, 2017) - Ashanti Gold Corp. (TSXV: AGZ) ("Ashanti" or the "Company") is pleased to announce results of an additional sixteen drill holes from the recently completed 53 Reverse Circulation ("RC") hole, 6073 metre drill program that tested mineralization on the Kossanto East Project (the "Property") in western Mali (see August 2 and 10, 2017 press releases) (Figure 1).
These results are the first from the Gourbassi West target to be reported by Ashanti (previous results were from the Gourbassi East target). Gourbassi West is an important target because it shows gold mineralization along a 1.3 km north-northwest trend up to 80m wide and apparent intersecting northeast-trending lesser zone as indicated by historic drilling and sampling (Figure 2). Gold mineralization at Gourbassi West occurs in silicified volcanic breccia with multi-stage quartz stockwork and veining. Highest grade gold mineralization occurs with the most intensely silicified volcanic breccia. This drill program defined the orientation of the mineralized zone and indicates that it dips moderately west to subvertical (Figures 3 and 4). The strike and dip extents of mineralization are not known. Results suggest that higher grade gold occurs in plunging high-grade sub-zones.
The host volcanic breccia is part of an extensive felsic volcanic complex inferred to be near the top of the local greenstone belt sequence, the most common position for large gold deposits to occur in felsic rocks of greenstone belts. Structural controls appear to parallel the Senegal-Mali and Main Transcurrent Shear Zones (Figure 1) as evidenced by the alignment of mineralization parallel to both features.
Drilling returned excellent grades and widths, including (see Table 1):
33 m @ 1.00 g/t Au (GWRC117)
60 m @ 1.05 g/t Au (GWRC119)
73 m @ 0.58 g/t Au including 10 m @ 1.80 g/t Au (GWRC124)
17 m @ 2.74 g/t Au including 1 m @ 30.13 g/t Au (GWRC125)
Table 1: Highlights of Gold Intercepts GWRC115 to GWRC130
|GWRC123||no significant intercepts|
|GWRC127||no significant intercepts|
*Intervals are intercept widths in drill hole and not true widths. There is insufficient geologic information to determine true widths at this stage of the project. Drill holes are oriented to provide the best intercept for the interpreted dip direction of mineralization.
**average of 37.1, 23.7, and 29.6 g/t Au