TORONTO, June 29, 2015 /CNW/ - Golden Star is pleased to confirm that it has
secured the necessary permits to develop open pit operations at its
Prestea Mine. The surface deposits to the south of the
Prestea underground mine are host to 122,000 ounces of
non-refractory Mineral Reserves at an average grade of 2.24 g/t
Au. These surface operations are expected to be in production
by the end of 2015, a year earlier than production from Prestea was
initially anticipated. Combined with the redevelopment of
underground operations, Prestea has the potential to deliver in
excess of five years of low cost production.
The environmental permit was issued by the Ghanaian
Environmental Protection Agency after Golden Star undertook extensive impact
assessment studies and local community consultations.
Prestea South has not been mined to date and an investment in
the haul road will be required to bring the project into
production. The existing contractor's fleet at Bogoso will be
used to haul this oxide ore 16 kilometers to the Bogoso
non-refractory plant where processing will take place.
Commenting on this development, Sam
Coetzer, President and CEO of Golden
Star, said:
"The awarding of this permit is welcome news and will enable
us to start exploiting the considerable potential of our Prestea
concession. Developing Prestea South is the first step
towards our corporate strategy of transitioning into a higher
margin non-refractory gold producer. We expect to update
stakeholders with a new full year mine plan in the third quarter of
2015."
Company Profile:
Golden Star Resources (NYSE MKT: GSS; TSX: GSC; GSE: GSR)
("Golden Star" or the "Company") is an established gold mining
company that holds a 90% interest in the Wassa, Prestea and Bogoso
gold mines in Ghana. In 2014, Golden
Star produced 261,000 ounces of gold. The Company is
financed to pursue brownfield development projects at its Wassa and
Prestea mines which are expected to transform these mines into
lower cost producers from 2016 onwards. As such, Golden Star offers investors leveraged exposure
to the gold price in a stable African mining jurisdiction with
significant development upside potential.
SOURCE Golden Star Resources Ltd.