TORONTO, Feb. 4, 2016 /PRNewswire/ - Golden Star today provided an update on
exploration activities at its Wassa gold mine in Ghana. Full
drill results, plans, and sections are available on the Company's
website at www.gsr.com/Operations/Wassa.asp.
Highlights of Drill Program
- FSDD010 – 22.0 meters ("m") grading 3.5 grams per tonne ("g/t")
gold
- FSSDD011 – 8.4 m grading 5.6 g/t
The Wassa Underground has advanced significantly since
development began in July 2015, from
a single orebody (the B Shoot) to adding the F Shoot which
Golden Star believes to be a
parallel zone to the main mining stopes along the B Shoot
structure. The underground economic potential of the F Shoot
was first recognized in 2014 when stope optimizations were
conducted for the Company's Preliminary Economic Assessment of the
Wassa Underground. The initial resource was small and only
consisted of a few stopes which were defined by a handful of holes;
it was therefore decided to further test this target in early 2015
utilizing surface drill rigs. The results of this drilling
were used to update the Wassa Underground resource models used for
the Feasibility Study on the Wassa Underground completed in 2015.
The Company plans to publish its 2015 year-end mineral reserves and
resources statements later in the quarter which will include
additions for the F Shoot target that were delineated during 2015
drilling. The recent drilling programs have successfully extended
the F Shoot target north of the current reserve and the Company
plans to assess the full potential of the F Shoot, which remains
open down plunge to the south.
The Main and Ventilation declines have reached a position where
access to the F Shoot mineralization is being developed. The twin
declines will continue down plunge to access the B Shoot stope
areas. The declines have advanced approximately 1060 meters in
total since development start-up in July
2015.
Sam Coetzer, President and CEO of
Golden Star, commented:
"These drill results, testing the extension of the F Shoot
mineralization north of the planned mining stopes, are very
encouraging. We expect future F Shoot drilling programs to continue
to add ounces to the Wassa Underground resources and reserves.
These drilling results indicate grades and thicknesses that could
be mined underground and the location of these zones allows quick
access to this area, potentially adding ounces to our near term
production. "
Wassa Drilling
The Wassa Underground development has advanced significantly and
is on schedule to gain access to the first F Shoot stopes in the
second quarter of 2016. During the development of the twin
declines, the northern projection of the F Shoot structure was
intersected along 24 meters of development in both drives. The
presence of this zone in the underground development and
intersections of higher grade mineralization in existing drill
holes supported further drilling to test the continuity and
geometry of the northern extension of the F Shoot structure.
Four holes were collared from the bottom of the Starter Pit,
targeting the projection of the F Shoot, with all four holes
intersecting the zone.
Significant intersections included FSDD010, which intersected an
estimated true width of mineralization of 22 meters grading 3.5 g/t
and was inclusive of a higher grade zone of 3.3 meters which
yielded a grade of 9.2 g/t. This particular hole was drilled
to confirm the grades intersected in STDD018, 20.6 meters grading
2.7 g/t which is located approximately 10 meters to the south of
FSDD010.
The F Shoot is characterized by up to three parallel zones,
FSDD010 intersected what has been interpreted to be the middle zone
where FSDD011 has intersected the upper and lower zones. The upper
zone in FSDD011, 8.4 meters grading 5.6 g/t, including 3.2 meters
at 12.7 g/t, was intersected 15 meters up dip from hole STDD012,
which generated an intercept of 4.6 meters at a grade of 3.0 g/t.
The lower zone in FSDD011, 6.5 meters grading 3.8 g/t, extended the
gold mineralization approximately 30 meters down dip of STDD019
which intersected 6.1 meters at a grade of 5.8 g/t.
The results from this phase of drilling have shown that grades
and thicknesses amenable to underground mining exist north of the
current F Shoot designed mining stopes, and therefore additional
drilling is being planned from both surface and underground to
better delineate the higher grade portions of the structure. The
drilling program is expected to begin in the first quarter of
2016.
Wassa F Shoot North Extension significant drill hole
results:
|
|
|
|
|
|
|
|
|
|
|
Hole
ID
|
Easting
(m)
|
Northing
(m)
|
Elevation
(m)
|
Azimuth
(°)
|
Dip
(°)
|
From
(m)
|
To
(m)
|
Drilled
Width
(m)
|
~ True
Width
(m)
|
Gold
Grade
g/t
|
FSDD009A
|
40056
|
20363
|
894
|
97
|
-60
|
105.5
|
111.6
|
6.1
|
5.4
|
2.9
|
FSDD010
|
40056
|
20364
|
892
|
67
|
-51
|
90.0
|
107.7
|
23.3
|
22.0
|
3.5
|
Including
|
|
|
|
67
|
-51
|
93.7
|
97.2
|
3.5
|
3.3
|
9.2
|
FSDD011
|
40056
|
20364
|
892
|
103
|
-63
|
78.6
|
88.4
|
9.8
|
8.4
|
5.6
|
Including
|
|
|
|
103
|
-63
|
82.6
|
86.4
|
3.8
|
3.2
|
12.7
|
FSDD011
|
40056
|
20364
|
892
|
94
|
-66
|
186.4
|
194.2
|
7.8
|
6.5
|
3.8
|
FSDD012
|
40056
|
20364
|
892
|
67
|
-41
|
90.1
|
101.0
|
10.9
|
10.8
|
1.9
|
Company Profile:
Golden Star is an established
gold mining company that holds a 90% interest in the Wassa and
Prestea gold mines in Ghana. As of December 31, 2014 Golden Star had Mineral
Reserves of 1.9 million ounces and 6.6 million ounces in Measured
and Indicated Mineral Resources. The Company is developing
two brownfield projects at Wassa and Prestea mines which are
expected to transform Golden Star
into a lower cost producer. As such, the Company offers
investors leveraged exposure to the gold price in a stable African
mining jurisdiction with significant development upside
potential.
For further information regarding Golden
Star's Mineral Reserves and Mineral Resources, see
Golden Star's Annual Information
Form for the year ended December 31,
2014, available on SEDAR at www.sedar.com.
Cautionary note regarding forward-looking information
Some statements contained in this news release are
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995 and other applicable
securities laws. Such statements include: expectations derived from
the interpretation of drilling results and the belief that the F
Shoot is a parallel zone to the B Shoot; the timing for releasing
mineral reserves and resources statements and the inclusion of F
Shoot drilling results therein; the impact of future F Shoot
drilling programs on Wassa Underground mineral resources and
reserves; the ability to mine and access F Shoot zone grades and
thicknesses by way of underground mining; the F Shoot zone adding
ounces to near term production; and plans for additional
drilling of F Shoot and the timing thereof. Investors are cautioned
that forward-looking statements are inherently uncertain and
involve risks and uncertainties. Factors that could cause actual
results to differ materially include timing of and unexpected
events during exploration; variations in ore grade; variations in
relative amounts of refractory, non-refractory and transition ores;
technical or permitting issues; fluctuations in gold price and
costs; availability of capital and/or external financing on
acceptable terms; changes in U.S. and Canadian securities markets;
and general economic conditions. There can be no assurance that
future developments affecting the Company will be those anticipated
by management. Please refer to the discussion of these risks and
other factors in the Company's Annual Information Form for the year
ended December 31, 2014 and other
filings of the Company with the United States Securities and
Exchange Commission and the applicable Canadian securities
regulatory authorities. The forecasts contained in this press
release constitute management's current estimates, as of the date
of this press release, with respect to the matters covered thereby.
We expect that these estimates will change as new information is
received. While we may elect to update these estimates at any time,
we do not undertake to update any estimate at any particular time
or in response to any particular event.
Technical Information
The technical contents of this press release have been reviewed
and approved by S. Mitchel Wasel, BSc Geology, a Qualified Person
pursuant to National Instrument 43-101. Mr. Wasel is Vice President
of Exploration for Golden Star and
an active member and Registered Chartered Professional of the
Australasian Institute of Mining and Metallurgy.
The results for Wassa Underground stated herein are based on the
analysis of saw-split HQ/NQ diamond half core or a three kilogram
single stage riffle split of a nominal 25 to 30 kg Reverse
Circulation chip sample which has been sampled over nominal one
meter intervals (adjusted where necessary for mineralized
structures). Sample preparation and analyses have been carried out
at SGS Laboratories in Tarkwa using a 1,000 gram slurry of sample
and tap water which is prepared and subjected to an accelerated
cyanide leach (LEACHWELL). The sample is then rolled for twelve
hours before being allowed to settle. An aliquot of solution is
then taken, gold extracted into Di-iso Butyl Keytone (DiBK), and
determined by flame Atomic Absorption Spectrophotometry (AAS).
Detection Limit is 0.01 ppm.
All analytical work is subject to a systematic and rigorous
Quality Assurance-Quality Control (QA-QC). At least 5% of samples
are certified standards and the accuracy of the analysis is
confirmed to be acceptable from comparison of the recommended and
actual "standards" results. The remaining half core is stored on
site for future inspection and detailed logging, to provide
valuable information on mineralogy, structure, alteration patterns
and the controls on gold mineralization.
Additional information on earlier drilling results and Mineral
Reserve and Mineral Resource estimates at Wassa are available in
the Company's National Instrument 43-101 compliant Technical Report
titled "NI 43-101 Technical Report on a Feasibility Study of the
Wassa Open Pit Mine and Underground Project in Ghana" with an effective date of March 26, 2015.
SOURCE Golden Star Resources Ltd.