Asante Gold Corporation (CSE:ASE/ FRANKFURT:1A9/OTC:ASGOF) has announced that it has compiled the data from the first of a series of ground geophysical IP (Induced Polarisation/Resistivity) surveys to be completed at its Keyhole Gold option property in Ghana.
Seven distinct linear trending IP zones have been outlined which are interpreted to represent areas with increased sulfide mineralisation. Sulfide concentrations (relative high IP values) in this structurally favourable Keyhole area are considered to be prime drill targets.
IP was chosen as the preferred technique to outline high potential drill targets given the strong association of gold with sulfide mineralisation in the Asankrangwa gold belt, such as at the Asanko (Obotan) gold mine located 40 km along the belt to the northeast. The subdued topography, extensive and locally thick alluvial cover, and heavy weathering and laterisation mask mineralisation from detection by the direct prospecting, trenching and soil geochemical methods which were used by previous explorers in the area.
Drill collars to test the outlined targets for gold mineralisation are being selected for a proposed 1200 metre diamond drilling program, planned to commence in early February 2017.
One of the proposed high IP drill targets corresponds with large angular quartz reef float noted in the heavily galamsey disturbed area of the historical MEM showing – where significant gold values were previously reported.
Asante and BXC Company (Ghana) Limited have entered into a C$19.5 million joint venture, subject to final closing, to develop the Kubi Gold Mining Leases as a potential near-term underground operation; and Asante is exploring the Keyhole and Betenase options, the Fahiakoba and other concessions, all adjoining or along strike of major gold mines near the centre of Ghana’s Golden Triangle.