Asante GOLD to Resume Drilling at Keyhole
ASANTE GOLD TO RESUME DRILLING AT KEYHOLE
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWS AGENCIES
FOR IMMEDIATE RELEASE July 5, 2017
Vancouver, British Columbia – July 5 , 201 7 – Asante Gold Corporation ( CSE:ASE/
FRANKFURT:1A9/OTC:ASGOF) (“Asante Gold” or the “ Company”) is pleased to announce
that a second phase drilling program will commence in mid -July in the MEM showing area on
our Keyhole Option, Ghana.
Burwash Contract Drilling of Vancouver will complete 800m of diamond drilling to follow up
on the high grade gold discovery from drillhole MEM17-001B which intersected 13.12g/t gold
over 3.0m at a depth of 120m below the historical MEM showing. The intersection is in a
northeast trending shear hosted in meta-greywacke/argillite, with quartz, sulfide and visible gold
mineralization.
New channel sampling results are also reported from trench MEM17-529 located 110m to the
northeast along the inferred strike of the mineralization in drillhole 001B , with significant assay
result of 10.23 g/t Au over 2.0m in vertical dipping meta-sediments with 10-15 % q uartz vein
material; and 1.62 g/t Au over 1 .0m in saprolite in trench MEM17 -002 located 110m to the
northwest of the MEM showing.
All of the significant gold values noted to date in the MEM showing area are located within areas
of anomalous high geophysical IP results in association with lower apparent resistivity and are
confirmed by drilling to be sulfide bearing shear zones. Shear zones host most of the major gold
deposits currently in production in Ghana. A map showing the detail grid assay and IP results is
available at: http://www.asantegold.com/assets/img/MEMDetIPN34.jpg .
Phase 2 drill targets will test below the discovery hole and step out along an additional 300m of
high IP results from a detail survey which was recently completed by Asante’s geophysical
crews. The survey was limited to the 550m wide area in between heavily mined alluvial gold
workings to the northeast and southwest of the MEM showing. Final results from the drilling are
expected to be available in late August.
Douglas R. MacQuarrie, President & CEO states, “ The strong correlation of gold mineralization
with high geophysical IP results in the MEM area gives us a powerful tool to explore for new
gold deposits under the extensive alluvial mined areas which have not been explored to date.
These areas stretch over 2km to the north and south of the MEM showing.”
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A map showing the previous MEM area drill collars is available at:
http://www.asantegold.com/assets/docs/pdf/nr/MEMdrillPlan.pdf . Recent pictures from the drill
program are available at: http://www.asantegold.com/projects/keyhole-option .
The Keyhole Option covers a 6km long section of the Ankobra River and is strategically located
at the intersection of three major regional gold mineralized trends:
the Asankrangwa Gold Belt which hosts ~11 million ounces* of gold resources at the
Asanko Gold Mine (formerly known as PMI Gold C orporation’s Obotan Mine), and
Esaase gold projects located 36km and 60km respectively to the northeast;
a major continental scale basement structure noted on regional aeromagnetic surveys
which is spatially related to the 66 million ounce* AngloGold Ashan ti Obuasi Mine and
the 7.6 million ounce* Newmont Akyem Mine, located 57km and 130km to the east
northeast; and
the north trending Ankobra River lineament and its extensions which connects 90km to
the south of the +60 million ounces total resource* gold mines at Bogosu, Preste a and
Tarkwa operated by GoldenS tar, AngloGold Ashanti, and Goldfields, with Newmont’s
15.3 million ounce* Ahafo Mine 100km to the north. (*past production plus current resources).
Keyhole, is under option from Sikasante Mining Company Limited and adjoins Asante’s Ashanti
II Gold project: http://www.asantegold.com/news/asante-gold-acquires-kubi-mining-leases-and-eight-
prospecting-licenses-in-ghana and map at http://www.asantegold.com/assets/img/goldentristruckeyhole.jpg .
Asante can earn up to 100% in the Keyhole Gold Project by completi ng $500,000 in work over
four years, issuing 1.25 million shares, and reserving for Sikasante a 2% net smelter return
royalty.
On behalf of the Board,
"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 , is the President and
CEO of the Company, and is a "qualified person" under NI 43 -101. Drill i ntercept lengths
reported are core lengths, as true widths cannot be accurately determined at this stage in the
exploration.
About Asante Gold Corporation
Asante Gold is developing the Kubi Mining Lease and is exploring the Keyhole, Fahiakoba and Betenase
concessions, 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]
Doreen Kent, Shareholder Communications, tel: +1 604-948-9450; E-mail: [email protected]
Florian Riedl-Riedenstein, Director; European Investor Relations, E-mail: [email protected]
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Additional information is available on our web site at: www.asantegold.com
Neither IIROC nor any stock exchange or other securities regulatory authority accepts responsibility for the
adequacy or accuracy of this release.