Denver-based Golden Star Resources (GSC-T) has found a new gold-mineralized zone at its Wassa property in Ghana, fuelling hopes that it will significantly increase resources at the project.
Feasibility studies on resuming production are already under way at Wassa, about 150 km west of Accra. Review and revision of the resource figures is under way, but former owner Glencar Mining put proven and probable reserves at 14.4 million tonnes grading 1.67 grams gold per tonne at the end of December 2000.
The new mineralized zone, christened South Akyempim, is about 2 km southwest of the processing plant site at Wassa. It was found by follow-up reverse-circulation and diamond drilling of an anomaly found in earlier soil geochemistry survey; another five zones of high gold concentrations in soil are known, along a 6-km strike length running southwest from the main deposit at Wassa.
The significant drill intersections cover a northeast-striking zone about 700 km long, with mineralized drill lengths ranging form 2 metres to 23 metres, and averaging about 7 metres. Gold grades ranged from 2 grams to 10.3 grams per tonne and averaged around 3.1 grams per tonne.
The average grade in the zone is significantly higher than the old reserve grade, offering the hope that the project’s economics will be improved.
Golden Star owns 90% of the project, with the Ghanaian government holding 10%.
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