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Asante Announces Additional Significant Drill Results at Aboduabo Prospect, Chirano Gold Mine, Ghana

VANCOUVER, British Columbia, Sept. 25, 2023 (GLOBE NEWSWIRE) -- Asante Gold Corporation (CSE:ASE | GSE:ASG | FRANKFURT:1A9 | U.S.OTC:ASGOF) ("Asante" or the "Company") is pleased to announce results from its ongoing exploration drilling program at the Aboduabo prospect located on our Bibiani ? Chirano mines corridor, Sefwi Greenstone Belt, Ghana.

Latest drill results have intersected high grade shoot extensions in multiple zones down-plunge of the defined +1km strike length of Aboduabo mineralization. Previous announcements by the Company (see press releases of January 17, 2023, February 8, 2023 and April 6, 2023) have highlighted the significant intercepts and potential of this deposit, located along the Bibiani Shear Zone. To date, 88 holes totaling 21,000m have been completed testing lateral extensions and upgrading geologic confidence in previously tested zones. Field mapping has been initiated along the trend to identify new targets for future growth.


Dave Anthony, President and CEO stated, "Results from the exploration drill program at Aboduabo continue to support our assessment that the deposit remains open and has potential to develop into long life open pit mine and future underground mine. We look forward to expanding the Aboduabo footprint with our field mapping program."

Aboduabo Prospect

The Aboduabo prospect is located approximately 5km north of the Chirano Process Plant and 10km south of the Bibiani Process Plant. Aboduabo is 7 km south of our Russel South deposit. It lies within the Bibiani mineralized trend and is hosted in Birimian sedimentary rock sequences. The Chirano gold deposits are primarily hosted in Birimian volcanic and granitoid sequences along the sub parallel Chirano trend.

Drill Results

Table 1: Summary drill results from the Aboduabo Prospect

Hole IDFromToIntervalAuElevationIntercept
 (m)(m)(m) (g/t)m RL 
CHRC3405D 274.5291.6517.154.2784[email protected]/t Au
CHRC3405DIncluding274.5282.27.78.9487[email protected]/t Au
CHRC3406D 222242.520.58.73131[email protected]/t Au
CHRC3390D 195.920610.16.48159[email protected]/t Au
CHRC3400D 166.35192.9526.62.27171[email protected]/t Au
CHRC3400DIncluding169.71788.34.20175[email protected]/t Au
CHRC3441D 380.342746.71.90-50[email protected]/t Au
CHRC3441DIncluding380.3413.7533.452.42-46[email protected]/t Au
CHRC3441DIncluding402.141310.94.37-53[email protected]/t Au
CHRC3404 2956271.29304[email protected]/t Au
CHRC3404Including293673.17312[email protected]/t Au
CHRC3420D 209.55233.323.753.18130[email protected]/t Au
CHRC3420DIncluding214.7224.810.15.83131[email protected]/t Au
CHRC3443 445393.47249[email protected]/t Au
CHRC3411DIncluding4670.224.22.47345[email protected]/t Au
CHRC3410 99125261.97255[email protected]/t Au
CHRC3410Including11812574.76248[email protected]/t Au
CHRC3414 166183173.18195[email protected]/t Au
CHRC3385D 23423842.15147[email protected]/t Au
CHRC3386 120150302.81211[email protected]/t Au
CHRC3425 133157241.70157[email protected]/t Au
CHRC3389D 126.85133.756.91.42177[email protected]/t Au
CHRC3392D 195208131.02127[email protected]/t Au
CHRC3394 445393.04326[email protected]/t Au
CHRC3395 039390.61362[email protected]/t Au
CHRC3398D 125.67137.511.831.19245[email protected]/t Au
CHRC3399 101114131.77262[email protected]/t Au
CHRC3399Including10611262.94261[email protected]/t Au
CHRC3403D 515763.54265[email protected]/t Au
CHRC3412 2030102.22373[email protected]/t Au
CHRC3414 166183173.18195[email protected]/t Au
CHRC3414Including17117657.31195[email protected]/t Au
CHRC3418 15015991.82190[email protected]/t Au
CHRC3419 17818135.35164[email protected]/t Au
CHRC3422D 218.2224.66.43.82102[email protected]/t Au
CHRC3434 111125141.78175[email protected]/t Au
CHRC3434Including11111762.37178[email protected]/t Au
CHRC3436 14815792.71191[email protected]/t Au
*CHRC3384D 280.75317.5536.82.56-1[email protected]/t Au
*CHRC3384DIncluding280.75302.321.553.135[email protected]/t Au
*CHRC3358D 187216.7529.752.04117[email protected]/t Au
*CHRC3358DIncluding196.65204.57.855.47117[email protected]/t Au
*CHRC3375D 287.233547.81.76-18[email protected]/t Au
*CHRC3375DIncluding287.2313.926.72.06-9[email protected]/t Au
*CHRC3375D 360364.84.84.14-60[email protected]/t Au
*CHRC3377 015151.24321[email protected]/t Au
*CHRC3377 5174232.31271[email protected]/t Au
*CHRC3377Including52.063112.84276[email protected]/t Au
*CHRC3374 168196281.81121[email protected]/t Au
*CHRC3374Including16817794.10129[email protected]/t Au
*CHRC3366 157183261.32160[email protected]/t Au
*CHRC3366Including172183112.43154[email protected]/t Au
*CHRC3367 163199361.22134[email protected]/t Au
*CHRC3376 4557121.46291[email protected]/t Au
*CHRC3387 104131271.48194[email protected]/t Au
*CHRC3368D 301315.7514.751.1813[email protected]/t Au
*CHRC3368DIncluding303.25307.153.92.2515[email protected]/t Au
*CHRC3372D 232.3244.612.30.9277[email protected]/t Au
*CHRC3372D 256.5265.99.41.2062[email protected]/t Au
*CHRC3388 153167140.98165[email protected]/t Au
*CHDD3347 169.5212.643.13.10126[email protected]/t Au
*CHDD3347Including196205.959.956.85119[email protected]/t Au
*CHRC3359 121147263.12209[email protected]/t Au
*CHRC3359Including123141184.19211[email protected]/t Au
*CHRC3350 85100152.64226[email protected]/t Au
*CHRC3350Including859274.44229[email protected]/t Au
*CHDD3339 96.5117.9521.452.99238[email protected]/t Au
*CHDD3339Including106.6117.9511.354.73234[email protected]/t Au
*CHRC3357 4461171.74294[email protected]/t Au
*CHDD3341 18821022.01.31117[email protected]/t Au
*CHDD3341Including19821012.01.72114[email protected]/t Au
*CHRC3348D 199.3212.513.21.5994[email protected]/t Au
*CHDD3344 5875.617.61.20268[email protected]/t Au


  1. Intervals reported are down hole lengths. True width estimated @ 80%.
  2. Length-weighted averages from uncapped assays with assumptions of 0.5g/t cut off and <3m internal waste.
  3. * Previously reported.

Figure 1: Aeromagnetic map of the Bibiani ? Chirano Gold Corridor, principal Asante gold deposits and recent selected significant intercepts at the Aboduabo prospects.

Figure 2: Plan view map of Aboduabo showing collar locations and recent drill results.

(* Previously reported results.)

Figure 3: Long Section view map of Aboduabo Gram Metre plot and selected drill results showing upside potential at depth.

(* Previously reported result.)

Figure 4: Drill Core photo of high-grade gold in vein hosted metasedimentary unit.


Asante employs a QA/QC program consistent with NI 43-101 and industry best practices. Surface drilling was conducted by GTS Drilling Services supervised by the Asante exploration teams.  Selected drill core intervals were sawn in half with a diamond blade saw. Half of the sampled core was left in the core box and the remaining half was bagged and sealed. Asante utilizes accredited laboratories, and the samples were transported to ALS-Kumasi, Ghana. Gold was analyzed by 50-gram fire assay with AA-finish. Certified reference material (CRM) standards and coarse blank material are inserted every 20 samples. Drill intercepts cited do not necessarily represent true widths, unless otherwise noted. 

Qualified Person Statement

Scientific and technical information contained in this news release has been reviewed and approved by Kwamina Ackun-Wood, a member of the Australasian Institute of Mining and Metallurgy, and the Exploration Manager for Mensin Gold Bibiani Ltd. and by Daniel Apau, a member of the Australasian Institute of Geoscientists, and the Exploration Manager for Chirano Gold Mines Limited, and by Dave Anthony, P.Eng., Mining and Mineral Processing, President and CEO of Asante, all of whom are "qualified persons" under NI 43-101.

About Asante Gold Corporation

Asante is a gold exploration, development and operating company with a high-quality portfolio of projects and mines in Ghana. Asante is currently operating the Bibiani and Chirano Gold Mines and continues with detailed technical studies at its Kubi Gold Project. All mines and exploration projects are located on the prolific Bibiani and Ashanti Gold Belts. Asante has an experienced and skilled team of mine finders, builders and operators, with extensive experience in Ghana. The Company is listed on the Canadian Securities Exchange, the Ghana Stock Exchange and the Frankfurt Stock Exchange. Asante is also exploring its Keyhole, Fahiakoba and Betenase projects for new discoveries, all adjoining or along strike of major gold mines near the centre of Ghana's Golden Triangle. Additional information is available on the Company's website at www.asantegold.com.

About the Bibiani Gold Mine

Bibiani is an operating open pit gold mine situated in the Western North Region of Ghana, with previous gold production of more than 4.5 million ounces. It is fully permitted with available mining and processing infrastructure on-site consisting of a newly refurbished 3 million tonne per annum process plant and existing mining infrastructure. Asante commenced mining in late February 2022 with the first gold pour announced on July 7, 2022. Commercial production was announced November 10, 2022.

For additional information relating to the mineral resource and mineral reserve estimates for the Bibiani Gold Mine, please refer to Asante's press releases dated July 18, 2022 and September 1, 2022 and the technical report filed on its SEDAR profile (www.sedarplus.ca) on September 1, 2022.

About the Chirano Gold Mine

Chirano is an operating open pit and underground mine located in the Western Region of Ghana, immediately south of the Company's Bibiani Gold Mine. Chirano was first explored and developed in 1996 and began production in October 2005. The mine comprises the Akwaaba, Suraw, Akoti South, Akoti North, Akoti Extended, Paboase, Tano, Obra South, Obra, Sariehu and Mamnao open pits and the Akwaaba and Paboase underground mines.

For additional information relating to the mineral resource and mineral reserve estimates for the Chirano Gold Mine, please refer to Asante's press releases dated October 15, 2022 and May 15, 2023 and the technical report filed on its SEDAR profile (www.sedarplus.ca).

For further information please contact:

Dave Anthony, President & CEO
Frederick Attakumah, Executive Vice President and Country Director

[email protected]
+1 604 661 9400 or +233 303 972 147

Cautionary Statement on Forward-Looking Statements

This news release contains forward-looking statements. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking statements, including the mineral resources, mineral reserves, exploration results, development programs and increases in mine-life and potential synergies between Chirano and Bibiani.  Factors that could cause actual results to differ materially from these forward-looking statements include, but are not limited to, variations in the nature, quality and quantity of any mineral deposits that may be located, the Company's inability to obtain any necessary permits, consents or authorizations required for its planned activities, the Company's inability to raise the necessary capital or to be fully able to implement its business strategies, and the price of gold. The reader is referred to the Company's public disclosure record which is available on SEDAR (www.sedar.com). Although the Company believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except as required by securities laws and the policies of the securities exchanges on which the Company is listed, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

LEI Number: 529900F9PV1G9S5YD446. Neither IIROC nor any stock exchange or other securities regulatory authority accepts responsibility for the adequacy or accuracy of this release.

Photos accompanying this announcement are available at





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