Asante Gold outlines plan to fast-track Bibiani to production

Asante Gold outlines plan to fast-track Bibiani to productionThe mill at the Bibiani gold mine, in Ghana’s western region. (Image courtesy of Asante Gold.)

Asante Gold (TSXV: ASE), a pure gold exploration and development company, has outlined plans to fast-track its newly added, past-producing Bibiani gold mine in Ghana into production. 

The Vancouver-based company, which completed the acquisition of Bibiani from Australia’s Resolute Mining (ASX: RSG; LSE: RSG) in mid-August, said local company Harlequin International had already kicked off the revamp of the 3 million-tonne-per year processing plant. 

The mill refurbishment is expected to employ up to 300 people and be finished in June 2022, Asante said.  

The junior noted it was also working on design and planning initiatives for other aspects of the Bibiani mine development project. 

The move seeks to reopen the currently halted operation, which has had a stop-start history and was suspended in 2013, the year then-owner Noble Mineral Resources collapsed. 

Resolute Mining acquired Bibiani in 2014 but placed it on care and maintenance shortly after that to allow exploration activities and develop the mine into a large-scale operation.  

The asset has mining and processing infrastructure and past production of about 4 million ounces of gold.  

Based on an updated feasibility study released by Resolute in July 2018, Bibiani has the potential to generate about 100,000 ounces of gold per year over a ten-year mine life at a life-of-mine all-in sustaining cost of US$764 per ounce.  

It also published a current JORC compliant mineral resource of 21.7 million tonnes grading 3.6 grams gold per tonne for 2.5 million ounces of contained gold.  

Asante has strong ties to Ghana, with Ghanaian citizens holding a significant shareholding, as well as board and executive roles.  

The company has also announced plans to co-list its shares on the Ghana Stock Exchange. 

Print

Be the first to comment on "Asante Gold outlines plan to fast-track Bibiani to production"

Leave a comment

Your email address will not be published.


*


By continuing to browse you agree to our use of cookies. To learn more, click more information

Dear user, please be aware that we use cookies to help users navigate our website content and to help us understand how we can improve the user experience. If you have ideas for how we can improve our services, we’d love to hear from you. Click here to email us. By continuing to browse you agree to our use of cookies. Please see our Privacy & Cookie Usage Policy to learn more.

Close