Asante Gold (TSX-V:ASE) has provided an updated resource estimate for its Ghana-based mines, showing a largely steady resource base despite over two years of depletion.
Total measured and indicated resources were 4.6 million ounces (Moz) of gold, which Asante says is in line with December 2023 levels despite more than 430,000 ounces of depletion.
The Chirano gold mine had 2.53Moz, more than replacing depletion with a 443,000-ounce increase. However, the Bibiani gold mine declined to 2.06Moz, reflecting an open pit depletion of 111,000 ounces.
Asante Chairman Malik Easah says the new estimate underscores “the inherent quality of Asante’s geological endowment in the Chirano-Bibiani Corridor”, reinforcing the long-term potential of these operations.
“Despite mineral inventory depletion from producing over 430,000 ounces across both mines in the past two years, we have maintained our combined measured and indicated resource base. This is a reassuring reflection of the quality of our near-mine exploration pipeline,” Easah adds.
Easah notes that exploration activity at Bibiani was constrained over the 2024–2025 period, but the company has increased its budget to rebuild the pipeline. Drilling to date has defined further extensional open pit and underground opportunities at Bibiani as well as Chirano.
The company considers the Chirano-Bibiani Corridor, where it holds more than 937km² through its combined Bibiani and Chirano tenures, as one of the most prospective yet historically underexplored structural settings in West Africa.
According to Asante, the corridor has produced over 8Moz of gold over its history.
Asante Gold is a growing mid-tier gold producer, developer, and explorer with a high-quality portfolio of assets located on two of West Africa’s most prolific and prospective gold belts in Ghana.
Write to Jackson Chen at Mining.com.au
Image: Asante Gold
