Asante Gold Corp (CNSX:ASE, CVE:ASE) has begun 1,000-metre drilling program at the MEM showing area on its Keyhole option, Diaso area, Asankrangwa gold belt, Ghana, the company said on Wednesday.
The program will test six high-priority geophysical induced polarization (IP) and resistivity targets recently outlined by the company’s 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 43.5 metres in a very broken and brecciated shear vein, after passing through an old underground working.
The hole was recollared as MEM-17-001B, steepened to avoid the old workings and is drilling ahead to intersect any downdip extensions of the old MEM workings. Please see recent pictures from the drilling on the company’s website on the Keyhole project page.
In addition, the company and BXC Company Ghana Ltd. are continuing to work toward closing the previously announced 50:50 joint venture with the company to develop the Kubi mining leases in Ghana toward production. Closing is now expected to take place in stages over the next 30 days: completion of purchase of a 30-per-cent equity interest in the company and ministerial consent to a joint venture and financing of the joint venture.
Story by ProactiveInvestors