Results Include 30.2 Metres Grading 15.3 Grams
Per Tonne of Gold
TORONTO, March 6, 2017 /CNW/ - Golden Star Resources Ltd.
(NYSE MKT: GSS; TSX: GSC; GSE: GSR) ("Golden Star" or the
"Company") is pleased to report the remaining results from the
in-fill drilling program at its Wassa Underground Gold Mine ("Wassa
Underground") in Ghana.
The program targeted the high grade B Shoot zone of Wassa
Underground, focusing on the areas that are expected to be mined
with transverse stoping (the "2016 B Shoot transverse stope
drilling program").
HIGHLIGHTS:
- Assay results for the remaining 15 diamond drill ("DD") holes
from the 2016 B Shoot transverse stope drilling program have been
received
- Significant intercepts included:
- 30.2 metres ("m") grading 15.3 grams per tonne ("g/t") of gold
("Au") from 270.0m in hole BS16DD013, including:
- 4.6m grading 41.2g/t Au from 276.2m
- 10.1m grading 21.8g/t Au from 286.2m
- 24.5m grading 12.1g/t Au from 280.0m in hole BS16DD021,
including:
- 5.5m grading 30.0g/t Au from 300.0m
- 25.2m grading 6.4g/t Au from 245.7m in hole BS16DD023,
including:
- 3.6m grading 10.5 g/t Au from 249.7m
- 0.9m grading 65.5 g/t Au from 262.5m
- These results confirm the high grade nature and continuity of
gold mineralization within the B Shoot transverse stoping
areas
- Exploration strategy update is expected to be released later in
the first quarter of 2017
Sam Coetzer, President and
Chief Executive Officer of Golden
Star, commented:
"This drilling program was designed to test the first B Shoot
transverse stopes, which we expect to begin mining in the third
quarter of this year. As well as confirming the high grade
nature and continuity of the B Shoot, the results from the most
Northern holes of this program suggest that the high grade zones
continue up plunge to the North. As part of the design update
work, which will be conducted with this new drilling data, we will
assess the viability of adding additional stopes to the North of
the current mine plan with the intention of increasing Wassa
Underground's Mineral Reserves."
Drilling Results
During the second half of 2016 Golden Star conducted
an in-fill drilling program to further delineate the first planned
transverse stoping areas of the B Shoot zone. In December 2016, Golden
Star reported the first nine holes of this program and the
results of the remaining 15 holes have now been received.
They continue to confirm the wide zones of high grade gold
mineralization in this area. This program has also defined
the contacts and geometry of the high grade zones so that detailed
mining plans and schedules can be assembled in advance of
mining.
In addition, the drilling targeted gaps in the existing planned
stopes to determine whether continuity between areas of higher
grade mineralization exists. The results of the most Northern
holes from this program indicated that the ore body is open to the
North and, therefore, Golden Star
will be evaluating the viability of adding additional stopes to the
mine plan in this area.
The full set of results is listed in Appendix A and includes
several compelling intercepts, as set out below. A long
section showing the location of the drill holes is available at:
http://www.gsr.com/operations/wassa/wassa-main/
Significant intercepts from Wassa Underground
|
|
|
|
|
|
|
|
HOLE
ID
|
Azimuth
(°)
|
Dip
(°)
|
From
(m)
|
To
(m)
|
Drilled
Width
(m)
|
True
Width
(m)
|
Grade
(Au g/t)
|
BS16DD013
|
78.0
|
-79.0
|
270.0
|
303.1
|
33.1
|
30.2
|
15.3
|
|
Including
|
|
276.2
|
281.2
|
5.0
|
4.6
|
41.2
|
|
Including
|
|
286.2
|
297.3
|
11.1
|
10.1
|
21.8
|
BS16DD014
|
74.0
|
-82.5
|
281.0
|
325.3
|
44.3
|
39.3
|
3.1
|
BS16DD015A
|
94.8
|
-83.4
|
238.0
|
263.0
|
25.0
|
22.0
|
4.4
|
BS16DD015A
|
76.5
|
-84.6
|
305.0
|
317.0
|
12.0
|
10.4
|
12.2
|
|
Including
|
|
309.0
|
316.0
|
7.0
|
6.1
|
18.6
|
BS16DD021
|
84.9
|
-79.6
|
280.0
|
307.0
|
27.0
|
24.5
|
12.1
|
|
Including
|
|
300.0
|
306.0
|
6.0
|
5.5
|
30.0
|
BS16DD023
|
86.5
|
-79.5
|
192.2
|
210.8
|
18.6
|
16.9
|
3.5
|
|
Including
|
|
207.2
|
208.2
|
1.0
|
0.9
|
24.1
|
BS16DD023
|
79.4
|
-80.2
|
245.7
|
273.6
|
27.9
|
25.2
|
6.4
|
|
Including
|
|
249.7
|
253.7
|
4.0
|
3.6
|
10.5
|
|
Including
|
|
262.5
|
263.5
|
1.0
|
0.9
|
65.5
|
Next Key Milestones
Golden Star expects to announce
its exploration strategy for 2017 later in the first quarter of
2017.
APPENDIX A
Full set of remaining 15 DD results from Wassa
Underground
|
|
|
|
|
|
|
|
HOLE
ID
|
Azimuth
(°)
|
Dip
(°)
|
From
(m)
|
To
(m)
|
Drilled
Width
(m)
|
True
Width
(m)
|
Grade
(Au g/t)
|
BS16DD001E
|
83.6
|
-70.5
|
59.0
|
62.0
|
3.0
|
2.9
|
1.9
|
BS16DD001E
|
84.0
|
-71.3
|
174.0
|
178.0
|
4.0
|
3.8
|
5.5
|
BS16DD001E
|
85.5
|
-71.5
|
193.0
|
196.0
|
3.0
|
2.9
|
24.9
|
BS16DD001E
|
85.5
|
-71.5
|
214.2
|
231.6
|
17.4
|
16.7
|
2.1
|
BS16DD002
|
88.5
|
-66.2
|
57.0
|
65.0
|
8.0
|
7.8
|
13.9
|
BS16DD003
|
85.8
|
-62.8
|
179.5
|
184.5
|
5.0
|
5.0
|
15.0
|
BS16DD004
|
85.9
|
-77.7
|
235.4
|
245.4
|
10.0
|
9.2
|
4.7
|
BS16DD004
|
82.8
|
-77.8
|
278.8
|
280.8
|
2.0
|
1.8
|
4.7
|
BS16DD004
|
85.5
|
-77.7
|
322.6
|
341.3
|
18.7
|
17.3
|
4.3
|
BS16DD004
|
Including
|
|
333.0
|
341.3
|
8.3
|
7.7
|
8.3
|
BS16DD005A
|
82.0
|
-78.8
|
238.0
|
248.5
|
10.5
|
9.6
|
3.6
|
BS16DD005A
|
81.2
|
-78.0
|
282.3
|
288.3
|
6.0
|
5.5
|
4.0
|
BS16DD006
|
90.5
|
-74.2
|
275.0
|
280.0
|
5.0
|
4.7
|
3.3
|
BS16DD006
|
89.5
|
-74.2
|
309.0
|
315.0
|
6.0
|
5.7
|
2.0
|
BS16DD007
|
359.0
|
-87.1
|
230.0
|
248.0
|
18.0
|
15.2
|
3.2
|
BS16DD007
|
349.0
|
-85.7
|
279.0
|
285.0
|
6.0
|
5.2
|
1.0
|
BS16DD007
|
346.2
|
-85.2
|
315.7
|
318.7
|
3.0
|
2.6
|
6.8
|
BS16DD007
|
348.8
|
-85.0
|
352.0
|
357.0
|
5.0
|
4.3
|
2.5
|
BS16DD008
|
76.7
|
-78.0
|
264.0
|
271.0
|
7.0
|
6.4
|
5.3
|
BS16DD008
|
75.0
|
-78.1
|
278.0
|
304.0
|
26.0
|
23.9
|
3.5
|
BS16DD008
|
Including
|
|
286.0
|
295.0
|
9.0
|
8.3
|
5.3
|
BS16DD009
|
77.9
|
-83.1
|
275.6
|
280.8
|
5.2
|
4.6
|
1.9
|
BS16DD009
|
68.8
|
-83.1
|
296.8
|
328.5
|
31.7
|
28.0
|
23.8
|
BS16DD009
|
Including
|
|
296.8
|
302.8
|
6.0
|
5.3
|
6.7
|
BS16DD009
|
Including
|
|
306.1
|
317.9
|
11.8
|
10.4
|
40.1
|
BS16DD009
|
Including
|
|
322.5
|
328.5
|
6.0
|
5.3
|
39.5
|
BS16DD009
|
75.0
|
-83.1
|
337.5
|
344.5
|
7.0
|
6.2
|
4.2
|
BS16DD010A
|
68.2
|
-85.4
|
196.0
|
210.0
|
14.0
|
12.1
|
3.9
|
BS16DD010A
|
62.8
|
-85.0
|
233.2
|
235.2
|
2.0
|
1.7
|
6.6
|
BS16DD010A
|
58.5
|
-85.1
|
252.0
|
272.0
|
20.0
|
17.3
|
2.6
|
BS16DD010A
|
49.4
|
-85.0
|
316.6
|
328.8
|
12.2
|
10.6
|
5.7
|
|
Including
|
|
316.6
|
321.6
|
5.0
|
4.3
|
9.3
|
BS16DD010A
|
49.4
|
-84.9
|
334.4
|
344.4
|
10.0
|
8.7
|
4.3
|
BS16DD011
|
13.2
|
-87.5
|
195.0
|
204.0
|
9.0
|
7.6
|
4.0
|
BS16DD011
|
349.4
|
-85.2
|
277.0
|
288.2
|
11.2
|
9.7
|
2.6
|
BS16DD011
|
347.8
|
-84.5
|
329.0
|
339.0
|
10.0
|
8.7
|
9.9
|
|
Including
|
|
335.0
|
337.0
|
2.0
|
1.7
|
41.5
|
BS16DD012A
|
90.8
|
-77.3
|
275.0
|
278.0
|
3.0
|
2.8
|
4.9
|
BS16DD012A
|
92.6
|
-77.6
|
308.8
|
313.0
|
4.2
|
3.9
|
3.9
|
BS16DD012A
|
92.6
|
-78.0
|
335.0
|
345.1
|
10.1
|
9.3
|
6.2
|
|
Including
|
|
338.0
|
341.0
|
3.0
|
2.8
|
17.4
|
BS16DD013
|
80.2
|
-79.5
|
194.0
|
198.0
|
4.0
|
3.6
|
3.7
|
BS16DD013
|
78.0
|
-79.0
|
270.0
|
303.1
|
33.1
|
30.2
|
15.3
|
|
Including
|
|
276.2
|
281.2
|
5.0
|
4.6
|
41.2
|
|
Including
|
|
286.2
|
297.3
|
11.1
|
10.1
|
21.8
|
BS16DD014
|
83.4
|
-82.1
|
235.9
|
241.0
|
5.1
|
4.5
|
3.7
|
BS16DD014
|
74.0
|
-82.5
|
281.0
|
325.3
|
44.3
|
39.3
|
3.1
|
BS16DD015A
|
92.4
|
-83.2
|
184.6
|
189.6
|
5.0
|
4.4
|
2.8
|
BS16DD015A
|
94.8
|
-83.4
|
238.0
|
263.0
|
25.0
|
22.0
|
4.4
|
BS16DD015A
|
76.5
|
-84.6
|
305.0
|
317.0
|
12.0
|
10.4
|
12.2
|
|
Including
|
|
309.0
|
316.0
|
7.0
|
6.1
|
18.6
|
BS16DD016
|
81.6
|
-76.2
|
228.9
|
233.9
|
5.0
|
4.7
|
9.3
|
|
Including
|
|
229.9
|
231.9
|
2.0
|
1.9
|
20.5
|
BS16DD016
|
77.2
|
-76.3
|
244.0
|
245.0
|
1.0
|
0.9
|
38.7
|
BS16DD016
|
81.1
|
-80.6
|
341.0
|
353.0
|
12.0
|
10.8
|
1.7
|
BS16DD017
|
93.2
|
-81.1
|
251.0
|
261.0
|
10.0
|
9.0
|
8.7
|
BS16DD017
|
93.2
|
-81.2
|
274.5
|
280.4
|
5.9
|
5.3
|
4.3
|
BS16DD017
|
88.8
|
-81.2
|
284.3
|
287.3
|
3.0
|
2.7
|
4.7
|
BS16DD018
|
86.4
|
-78.8
|
284.8
|
286.8
|
2.0
|
1.8
|
10.6
|
BS16DD018
|
84.0
|
-78.8
|
333.8
|
342.8
|
9.0
|
8.2
|
4.2
|
BS16DD019
|
98.2
|
-69.9
|
233.2
|
235.0
|
1.8
|
1.7
|
3.0
|
BS16DD020
|
88.3
|
-77.8
|
274.7
|
279.7
|
5.0
|
4.6
|
5.0
|
BS16DD021
|
84.9
|
-79.6
|
280.0
|
307.0
|
27.0
|
24.5
|
12.1
|
|
Including
|
|
300.0
|
306.0
|
6.0
|
5.5
|
30.0
|
BS16DD022
|
80.1
|
-79.1
|
280.4
|
285.3
|
4.9
|
4.5
|
5.3
|
BS16DD022
|
80.2
|
-79.0
|
331.0
|
338.0
|
7.0
|
6.4
|
2.8
|
BS16DD023
|
86.5
|
-79.5
|
192.2
|
210.8
|
18.6
|
16.9
|
3.5
|
|
Including
|
|
207.2
|
208.2
|
1.0
|
0.9
|
24.1
|
BS16DD023
|
79.4
|
-80.2
|
245.7
|
273.6
|
27.9
|
25.2
|
6.4
|
|
Including
|
|
249.7
|
253.7
|
4.0
|
3.6
|
10.5
|
|
Including
|
|
262.5
|
263.5
|
1.0
|
0.9
|
65.5
|
BS16DD024
|
84.4
|
-83.8
|
230.5
|
237.5
|
7.0
|
6.1
|
8.5
|
BS16DD024
|
81.5
|
-83.8
|
282.5
|
285.5
|
3.0
|
2.6
|
6.9
|
Company Profile
Golden Star is an established
gold mining company that owns and operates the Wassa and Prestea
mines situated on the prolific Ashanti Gold
Belt in Ghana, West Africa. Listed on the NYSE MKT, the TSX,
and the GSE, Golden Star is
strategically focused on increasing operating margins and cash flow
through the development of its two high grade, low cost underground
mines both in conjunction with existing open pit operations. The
Wassa Underground Gold Mine commenced commercial production in
January 2017 and the Prestea
Underground Gold Mine is expected to achieve commercial production
in mid-2017. Gold production in 2017 is expected to be
255,000-280,000 ounces with cash operating costs of $780-860 per ounce.
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; the timing for releasing
the exploration strategy for 2017; the timing of the commencement
of transverse stoping of the B Shoot; the impact of future B Shoot
drilling programs on Wassa Underground planned stopes; the ability
to increase Wassa Underground's Mineral Resources; the wide, high
grade zones of gold mineralization at Wassa Underground; the
viability of adding additional stopes to the mine plan; 2017 gold
production and cash operating costs; and the ability to mine and
access B Shoot zone grades and thicknesses by way of underground
mining. 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, 2015 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.
SOURCE Golden Star Resources Ltd.