Asante GOLD Exploration Update – Stock Option Issued
ASANTE GOLD EXPLORATION UPDATE – STOCK OPTION
ISSUED
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWS AGENCIES
FOR IMMEDIATE RELEASE SHARES ISSUED: 66,545,757
Vancouver, British Columbia – April 6, 2020 – Asante Gold Corporation ( CSE:ASE/
FRANKFURT:1A9/U.S.OTC:ASGOF) (“Asante” or the "Company") announces that it has
granted 200,000 incentive stock options to a consultant at a price of $0.10 per share, for a term of
two years.
EXPLORATION UPDATE
Kubi East Trenching Program: During the months of January thru March a program to test
previously located Induced Polarization (IP) anomalies, consisting of six excavator trenches and
hand dug extensions, totaling 216m in length and to depths of 6m, were completed, with 53 channel
samples analysed . Only background gold levels were note d. All trenches have now been
backfilled using local village labour and returned to agricultural use.
TR-01 and TR-02 covering the highest priority IP targets outlined to date on the east side of the
Kubi Gold Mine pit did not reach bedrock given the thick waste dump material encountered.
Values to 3m at 4.5g/t gold in a garnet and sulfide rich zone were noted in a previous drill hole at
a depth of 360m vertically below TR-01. TR-02 uncovered pit waste material which contained up
to 5% finely disseminated sulfides, and may explain the underlying IP anomaly. These two targets
remain to be tested in a future drill program.
TR-03 to TR-06 were cut in saprolite, primarily mauve to mottled beige Tarkwaiian boulder meta
conglomerates and mottled b eige to white Tarkwaiian meta sandstones. No sulfides, pervasive
silicification or graphitic shear zones were noted. In TR-03 a 5m wide, distinct buff to white meta
sandstone containing up to 5% coarse disseminated magnetite was noted. This unit is conformable
with the regional foliation at Az 021 degrees, was confirmed by the recent ground magnetometer
survey, and is offset circa 12m to the east of the targeted IP anomaly axis. The lack of shearing
may indicate that the source of these IP and magnetic anomalies is primary sulfides and magnetite
in distinct stratigraphic units.
This paleo sedimentary environment can also concentrate gold . Further IP, magnetic and auger
soil sampling is planned to the East, North and South of the current program . A map showing
Kubi E ast TR-01 to TR-06, sample locations and drill collars on the IP base is at:
http://www.asantegold.com/assets/img/NRKubiETRJan2020.jpg
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Kubi 513 Zone Magnetometer Survey: A total of 1,100m of ground magnetic profiling was
completed over the 513 Zone which is located 1. 2km to the south west of the Kubi Main gold
resource. This target is on the eastern margin of the main Ashanti shear zone – a major gold
mineralizing structure in Ghana that hosts numerous large mines including the 66Moz AngloGold
Ashanti Obuasi mine.
The 513 zone was first discovered in 2009 and 3,077m drilled to date in 25 shallow holes over a
strike length of 540m. The zone is hosted in a vertical to moderately east dipping garnetized
metagabbro similar to the garnet zone at Kubi Main. Best previous drill results are 4.8m at 3.76g/t
from 85m depth, 8m at 3.68g/t from 64m, and 1m at 15.3 g/t from 66m. Mineralization consists of
visible gold, minor pyrrhotite and arsenopyrite. Gold mineralization appears related to local
magnetic highs and suggests a potential strike extension of at least another 150m to the north.
Further magnetic surveys are planned to fully define the strike extensions prior to additional
drilling.
On behalf of the Board, we would like to take t his opportunity to extend our sincere wishes that
all our shareholders, employees and their families remain healthy and safe in these difficult times.
"Douglas R. MacQuarrie"
President and CEO
Scientific and technical information contained in this news release has been reviewed and approved by Douglas R.
MacQuarrie, P.Geo. (B.C.) Geology & Geophysics, the President and CEO of the Company, who is a "qualified
person" under NI 43-101. Approximate 3 to 5kg channel samples were taken at 2 to 5m intervals and analyzed for
gold by fire assay AA on a 50gram sample charge at SGS Laboratory Services GH. Ltd., Tarkwa, Ghana. Additional
surveys and drilling are subject to available funding.
About Asante Gold Corporation
Asante is continuing to source funding to expand and develop its Kubi Gold project to production, and is exploring
the Keyhole, Fahiakoba and Betenase concessions/options for new discoveries, all adjoining or along strike of major
gold mines near the centre of Ghana’s Golden Triangle.
For further information please contact:
Douglas MacQuarrie, President and CEO, tel: +1 604-558-1134; E-mail: [email protected]
Valentina Gvozdeva, Business Development, E-mail: [email protected]
Florian Riedl-Riedenstein, Director; European Investor Relations, E-mail: [email protected]
Doreen Kent, Shareholder Communications, tel: +1 604-948-9450; E-mail: [email protected]
Additional information is available on our web site at: www.asantegold.com
LEI Number: 529900F9PV1G9S5YD446. Neither IIROC nor any stock exchange or other securities regulatory
authority accepts responsibility for the adequacy or accuracy of this release.