Drilling Program Underway - Keyhole Option Kubi JV Update, Ghana
DRILLING PROGRAM UNDERWAY - KEYHOLE OPTION
KUBI JV UPDATE, GHANA
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWS AGENCIES
FOR IMMEDIATE RELEASE March 1, 2017
Vancouver, British Columbia – March 1 , 201 7 – Asante Gold Corporation ( CSE:ASE/
FRANKFURT:1A9/OTC:ASGOF) (“Asante” or the “ Company") announces that it has
commenced a 1,000 metre drilling program at the MEM showing area on our Keyhole Option,
Diaso area, Asankrangwa gold belt, Ghana . The program will test six high priority geophysical
IP and resistivity targets recently outlined by our survey team.
The first hole MEM -17-001 was collared to test the moderate IP responses under the old MEM
showing and shafts. The hole was abandoned at 43.5m in a very broken and brecciate d shear
vein, after passing through an old underground working. The hole was re -collared as MEM-17-
001B, steepened to avoid the old workings and is drilling ahe ad to intersect any down dip
extensions of the old MEM workings. Please see recent pictures from the drilling on our web
site, Keyhole project page at http://www.asantegold.com/projects/keyhole-option .
In addition, the Company and BXC Company Ghana Limited are continuing to work towards
closing the previously announced 50:50 joint venture with the Company to develop the Kubi
Mining Leases in Ghana towards production. Closing is now expected to take place in stages
over the next 30 days: completion of purchase of 30% equity interest in the Company;
Ministerial consent to Joint Venture; and funding of Joint Venture.
On behalf of the Board,
"Douglas R. MacQuarrie"
President and CEO
About Asante Gold Corporation
Asante and BXC are proceeding to develop the Kubi Gold Joint Venture as a potential near term underground mine;
and Asante 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]
Kirsti Mattson, Media Relations, tel: +1 778-434-2241; E-mail: [email protected]
Rebecca Greco, Business Development, tel: +1 416-822-6483; E-mail: [email protected]
Florian Riedl-Riedenstein, Director; European Investor Relations, E-mail: [email protected]
Additional information is available on our web site at: www.asantegold.com
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This news release contains statements of forward -looking information (or "FLI") including those in respect of future
exploration, joint venture, development, permitting and mining at Kubi and the other properties in which the
Company has an interest, financings, requisite shareholder approvals and timing for closing of the options. FLI
involves risks and uncertainties which could cause actual results to vary from the FLI. The risk factors that could
cause actual results to differ materially include: th e risk of failure to obtain sufficient financing; the inherent risks
involved in the exploration and development of mineral properties; the uncertainties involved in interpreting drill
results and other exploration data; the potential for delays in explora tion or development activities; the geology,
grade and continuity of mineralization; the possibility that future exploration, development or mining results will not
be consistent with the Company’s expectations; accidents, equipment breakdowns, labor dispu tes or other
unanticipated difficulties with or interruptions in production and operations; the availability and costs of suitable toll
milling facilities; fluctuating prices of metals and other commodities; currency fluctuations; the possibility of projec t
cost overruns or unanticipated costs and expenses; uncertainties relating to the availability and costs of financing
needed in the future; the inherent uncertainty of production and cost estimates and the potential for unexpected costs
and expenses; regu latory restrictions, including environmental regulatory restrictions and liability and the lack of
any assurance that the Company will receive all of the necessary governmental title and approvals to proceed with
the development of its projects. The materi al factors and assumptions on which the FLI is based include the
extensive Kubi drilling database and current mineral resource estimate, the previously successful permitting, mining,
trucking and milling operations at Kubi, the local availability of skille d labor, plant and machinery, and the positive
results from previous metallurgical tests on the Kubi Main deposit mineralization. The Company undertakes no
obligation to update FLI except as required by applicable law. Such information represents manageme nt's best
judgment based on information currently available. Readers are advised not to place undue reliance on FLI.
Neither IIROC nor any stock exchange or other securities regulatory authority accepts responsibility for the
adequacy or accuracy of this release.