Golden Star Reports Initial High Grade Extension Drilling Results from Prestea Underground Gold Mine and Project Update

Five holes have been completed to date in the extension drilling program, targeting the area to the north of the existing planned stopes, with the results of the first four holes announced today.  These results confirm the extension of gold mineralization into this area and represent the opportunity to add new stopes, which have the potential to be mined during the next 18 months.  The drilling was conducted from within Prestea Underground's workings and comprised a total of 1,007m. 

Golden Star intends to construct a new drill chamber to the north of the current West Reef 24 Level access. This is to enable the exploration team to access the larger, longer term exploration target, which is the projected down plunge extension of the high grade West Reef ore body (Mineral Reserves of 1.09 million tonnes at 13.93 g/t Au for 490,000 ounces)¹.  The Company expects the drill chamber to be completed during the fourth quarter of 2017, allowing for a further increase in drill production from late 2017/early 2018 onwards.

If this drilling is successful, it represents the potential to increase the mine's Mineral Reserves and Mineral Resources and consequently, its planned annual production rate of 90,000 ounces and the mine life from 5.5 years².

A diagram showing the location of the drill holes is available at: http://www.gsr.com/operations/prestea

Notes

1. Numbers are derived from the Company's Mineral Reserves and Mineral Resources estimate as of December 31, 2016
2. Numbers are derived from the technical report entitled "NI 43-101 Technical Report on a Feasibility Study of the Prestea Underground Gold Project in Ghana", effective November 3, 2015, filed under Golden Star's profile on SEDAR at www.sedar.com

In-Fill Drilling Program Results

During the third quarter of 2017 Golden Star also completed an in-fill stope definition drilling program to further delineate the West Reef ore body. This work focused on assessing flexures in the dip of the ore body ahead of raise development and ultimately stope development.

The results of 23 holes have been received to date, with 14 holes announced in July 2017 and a further seven holes announced today.  The latest seven holes comprised 947m of drilling and all the results received to date confirm the previously modelled high grade nature, simple geometry and thickness of the ore body and the strong continuity of gold mineralization.  The full set of results is listed in Appendix A.

The results of the remaining two holes are not available as one was abandoned due to technical issues and the other had poor recovery of core within the ore zone.

Expected Drilling Results

The results of the pending extension hole and additional new holes are anticipated to be released during the fourth quarter of 2017.  Further results are also expected from the Wassa Underground Gold Mine step out drilling program during the fourth quarter of 2017.

Project Update

The first and second raise developments, which will enable the mining of Prestea Underground, are now complete.  The third raise has advanced approximately 26 metres and the fourth nest is under construction.

The rate of footwall waste development slowed during the second quarter of 2017 but the operations team was able to accelerate development during the third quarter and are now working to plan.  This has allowed for a successful breakthrough between the north and south side of the footwall drive, enabling through ventilation.  It will also allow for ore and waste to be excavated separately, creating a greater degree of flexibility within the mine.

Golden Star expects to blast the first stoping ore at Prestea Underground before the end of the third quarter of 2017 and remains on track to commence commercial production during the fourth quarter of 2017.

APPENDIX A

11 DD results reported today

Hole ID	Azimuth (°)	Dip (°)	From (m)	To (m)	Drilled Width (m)	~ True Width (m)	Grade g/t
Extension drilling results
WR17-24-274S19	325	38	182.3	183.2	0.9	0.5	67.2
WR17-24-274S20	324	25	192.4	193.7	1.3	0.8	11.6
WR17-24-274S22	308	23	159.3	161.2	1.9	1.5	13.7
WR17-24-274S25	304	8.7	174.1	174.7	0.6	0.5	132.4
In-fill drilling results
WR17-24-274S08A	301	47	152.8	154.4	1.6	1.3	17.0
WR17-24-274S11	292	39	143.0	143.9	0.9	0.8	5.2
WR17-24-274S13	278	34	138.5	139.0	0.5	0.5	12.5
WR17-24-274S15	274	27	138.1	139.2	1.1	1.1	12.9 Werbung Mehr Nachrichten zur Golden Star Resources Aktie kostenlos abonnieren E-Mail-Adresse Bitte überprüfe deine die E-Mail-Adresse. Benachrichtigungen von ARIVA.DE (Mit der Bestellung akzeptierst du die Datenschutzhinweise) -1 Vielen Dank, dass du dich für unseren Newsletter angemeldet hast. Du erhältst in Kürze eine E-Mail mit einem Aktivierungslink. Hinweis: ARIVA.DE veröffentlicht in dieser Rubrik Analysen, Kolumnen und Nachrichten aus verschiedenen Quellen. Die ARIVA.DE AG ist nicht verantwortlich für Inhalte, die erkennbar von Dritten in den „News“-Bereich dieser Webseite eingestellt worden sind, und macht sich diese nicht zu Eigen. Diese Inhalte sind insbesondere durch eine entsprechende „von“-Kennzeichnung unterhalb der Artikelüberschrift und/oder durch den Link „Um den vollständigen Artikel zu lesen, klicken Sie bitte hier.“ erkennbar; verantwortlich für diese Inhalte ist allein der genannte Dritte. Andere Nutzer interessierten sich auch für folgende News 08:28 - PR Newswire Samson Rock Capital LLP - Form 8.3 - TClarke Plc 02:00 - PR Newswire Kasei Digital Assets Plc - Half-Year Results Sehen Sie sich dieses Unternehmen an:    Foto: andreas160578 - Pixabay Rasanter Aufstieg, Branchenrevolution und Jahresumsatz von 50 Mio. $ weiterlesen» Anzeige wo-site-teaser-box-16764_site-teaser-box_2024-04-26_09%253A00%253A00_2024-04-27_09%253A00%253A59