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Important Initial 2018 Diamond Drill Results, Gourbassi East, Kossanto East Project, Mali

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Important Initial 2018 Diamond Drill Results, Gourbassi East, Kossanto East Project, Mali

 

 

 

 

 

Ashanti Gold Corp. (TSX-V:AGZ) is pleased to announce additional results from the recently completed 105 hole Reverse Circulation and Diamond Drill 12,283 metre drill program that tested mineralization on the Kossanto East Project in western Mali.  These results report assay data for the first two diamond drill holes from the Gourbassi East main zone; GEDD223 and GEDD250.  Both holes include multiple mineralized zones with multi-metre, multi-gram intercepts with local high grade zones.  Additionally we present below results from additional RC holes. Highlights are tabulated below:

 

DD hole results:

 

 

Hole From
(m)
To
(m)
Interval*
(m)
Grade (g/t
Au)
GEDD223 90 102 12 0.72
incl. 97 101 4 1.65
  122 134 12 0.82
incl. 132 134 2 2.29
  198 200 2 1.49
  217.1 221.47 4.7 0.47
         
GEDD250 127.3 144.3 17 1.84
incl. 134.3 166.3 4 4.60
  160.3 166.3 6 0.99
  195.3 206.0 10.7 8.02
incl. 200.3 205.0 4.7 18.59

 

RC hole results:

 

 

Hole From
(m)
To
(m)
Interval*
(m)
Grade (g/t
Au)
GERC238 16 18 2 5.00
  84 87 3 2.04
GERC245 86 95 9 2.33
incl. 87 92 5 3.28
  112 120 8 5.48
  173 183 10 1.93
incl. 173 178 5 3.37

*Intervals indicated are not true widths as there is insufficient geologic information to calculate true widths.  However, drill holes have been drilled to cross interpreted mineralized zones as close to perpendicular as possible.

 

 

These holes, and others with results to follow, test Gourbassi East Main Zone mineralization down dip, along strike and along section fences to provide sufficient data for a resource estimate later this year.  Importantly, mineralized intervals reported here lie along multiple mineralized zones of mineralization interpreted and predicted from previous drilling and thereby will support favorably geologic and resource modeling. Note that hole GEDD223 ended in mineralization.

 

 

Tim McCutcheon, CEO, said, “Great results with more coming as the laboratory in Bamako continues to send Ashanti assay data. Looking forward to sharing more data and sections as they are available.”

 

 

About Kossanto East Project

 

The Kossanto East Project is a 66.41 km2 concession in the prolific Kedougou – Kenieba Inlier, the northwestern most exposure of Birimian rocks in West Africa and host to the Loulo and Sadiola group of world class gold deposits.  The Property hosts two principle historically drill-tested targets, Gourbassi East and Gourbassi West and several surface anomalies identified in historic surface samples and Rotary Airblast (RAB) drill holes. Geochemical anomalies identified by previous explorers led to drill testing and successful intersection of gold mineralization. The results reported here are from Gourbassi East. Further results from Gourbassi East and Gourbassi West are anticipated in the coming weeks.

 

 

ABOUT ASHANTI GOLD

 

Ashanti is a gold-focused, exploration and development company that targets projects where it has a competitive advantage due to past work experience of the team and specific project know-how. The Company is driving forward its 100%-owned Kossanto East project in Mali on the prolific Kenieba Belt, which hosts such deposits as Loulo, Fekola and Sadiola. Ashanti is also working to advance, together with its earn-in partners, the Anumso project and the Ashanti Belt project in Ghana, which are near-adjacent to the Akyem deposit.

 

Posted July 3, 2018

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