AMN - GHANA: Asante begins MEM drilling program

Asante Gold Corporation has commenced a 1000 metre drilling program at the MEM showing area of its Keyhole Option in the Diaso area of Ghana’s Asankrangwa Gold Belt. The program will test six high priority geophysical IP and resistivity targets recently outlined by the company’s survey team.

The first hole 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 re-collared and steepened to avoid the old workings. It is drilling ahead to intersect any down dip extensions of the old MEM workings.

In addition, Asante and BXC Company Ghana Ltd continue to work towards closing the 50:50 joint venture with Asante to develop the Kubi Mining Leases in Ghana towards production.

Closing is expected to take place in stages over the next 30 days - completion of purchase of 30% equity interest in the company; Ministerial consent to the joint venture; and funding of the joint venture.

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