Building a mid-tier gold producer

Exploration

Asanko’s concessions are located on the underexplored Asankrangwa Gold Belt. Asanko holds the largest land package on this Belt and it hosts all of the Company’s 5.1 million ounces of reserves.

Regional Geology

The Asankrangwa Belt is about 7 km wide and over 50 km long and the area is highly prospective with multiple geochemical anomalies aligning with the structures interpreted from the airborne VTEM and magnetic surveys completed by Asanko in 2015.

The geology of the Asankrangwa Belt comprises strongly deformed Birimian meta-sediments, with minor granitic intrusions and mafic igneous rocks. The lithological units are cut by steeply north-west dipping primary and secondary structures. It is this structural and geological architecture that have been important in the localization of gold mineralization, and provides the capacity for enhanced fluid flow forming major alteration systems in association with the gold bearing systems. The gold mineralization is linked to at least two separate deformation events and fluid emplacement, with certain similarities to the gold deposits on the Sefwi and Ashanti Greenstone Belts.

Near Mine Exploration

Asanko is conducting a near mine exploration program focused on high priority targets that have the potential to add near-term resources to the Asanko Gold Mine using systematic and low-cost exploration methods.

An extensive regional prospectivity mapping exercise undertaken in 2014 by external consultants concluded that only 7% of Asanko’s highly prospective concession area had been historically explored effectively. The study has provided a better understanding of the controls on the location of gold deposit formation and the expression of these controls in exploration data and a significant number of new exploration targets have been generated. The identified targets provide a clear opportunity for the exploration team and offer the potential for rapid delineation of new deposits and resource areas.

In 2016, three additional near mine, near surface deposits were discovered - Nkran Extension, Adubiaso Extension and Akwasiso.

Miradani Project

The Miradani Project is a very exciting exploration project with huge potential to increase Asanko’s resource base and contribute to the Company’s future growth. Please click here to read more.

Located next to the current operation, all known mineralization on the Miradani Project is within trucking distance (11.5 km) of the AGM processing facility. The Miradani Project comes with the advantage of being on an existing mining lease (valid until May 2025), which means that Asanko will be able to accelerate the development timeline from resource delineation to production.

3 significant initial target areas along the main structural trend, Miradani, Central, and Tontokrom, have been identified.

Historical trench and soil geochemistry data, along with recent mechanized artisanal mine workings, indicate that each target area consists of multiple parallel mineralized zones, individually ranging between 3m and 37m in width. Individual 1.5m trench samples assayed up to 47.3 g/t.

A phased drilling campaign is expected to commence in Q4 2017, with a view to completing a maiden Mineral Resource Estimate in H2 2018.

Asumura Project, Sefwi-Bibiani Belt

The Asumura Project is located on the western boundary of the Sefwi-Bibiani Belt, which is one of three major gold producing belts in southwest Ghana. The project is located 65 km southwest of Newmont’s Ahafo deposits (which have Mineral Reserves of 12.2 million ounces at 2.21 g/t Au and Mineral Resources of over 17 million ounces of gold). The targets at Asumura are disseminated open pit gold deposits. Mineralization at Asumura is spatially associated with NE trending faults in a variety of lithologic settings. Asanko has recently reinterpreted the geophysical data covering the area, and the ensuing refined structural model has highlighted a number of new drill targets. These will be assessed during 2017.