Asante Gold (CSE:ASE) announces commercial production at the Bibiani Gold Mine

Asante Gold Corporation (ASE) announced that commercial production has been established at the Bibiani Gold Mine, GhanaThe first gold pour at Bibiani was completed on July 7, 2022, two months ahead of scheduleGold production in October production was 9,910 ounces, 15 per cent above planAsante is a gold exploration, development and operating company with a high-quality portfolio of projects and mines in GhanaAsante Gold Corporation (ASE) opened trading at C$1.36

Asante Gold Corporation (ASE) has established commercial production at the Bibiani Gold Mine.

Operational highlights:

The first gold pour at Bibiani was completed on July 7, 2022, two months ahead of schedule. Metallurgical performance and gold production are on track with the ramp-up scheduleAll process plant and mine facilities have been operating on a 24-hour per day basis since late June, with ~220,000 tonnes in September and~206,000 tonnes in October. Asante plans to increase throughput to 250,000 tonnes of ore per month by Q1 2023Gold production in September was above 9,300 ounces, 17 per cent above the company’s start-up plan. October production was 9,910 ounces, 15 per cent above plan. Gold production will continue to ramp up to ~20,000 oz per month by early 2023The Walsh Pit continues to outperform relative to our initial planned gold production. As this pit has been developed, the grade control drilling program has been a key component in the development of this trendThe company’s plan to extend the Bibiani open pit Life of Mine (LOM) from 8.3 years to +10 years is on track with successful development exploration at Russel South, and drilling programs continue at the Grasshopper and Elizabeth deposits as planned. The company will continue its near-mine development exploration program with planned drilling of approximately 30,000 metres per year for 2022, 2023 and 2024The Bibiani orebodies typically dip near-vertical and are open at depth. Bibiani has initiated an underground mine planning study to define the development of an underground mine operation that will access mineralized deposits below the Main Pit and the satellite pits. Asante anticipates the underground mine program initiative will increase annual gold production significantly and proceed from 2025 and extend the mine life beyond the period of open pit mining.

Dave Anthony, President and CEO, commented on the news.

“We are very pleased with the progress that has been achieved at Bibiani. Over the past 12 months, the Bibiani Mine Team has established a track record of overachievement, and we look forward to increasing the value of this asset. As we gather momentum at the Bibiani Mine and advance with exploration activities and productivity improvement initiatives, we look forward to providing further updates.”

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 with a combined forecast production of 335,000 oz of gold over the next 12 months.

Asante Gold Corporation (ASE) opened trading at C$1.36.

The post Asante Gold (CSE:ASE) announces commercial production at the Bibiani Gold Mine appeared first on The Market Herald.

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