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Asante Gold Announces CAD$5.0 Million Placement Oversubscribed Additional CAD$2.0 Million Accepted
Malik Easah Appointed Executive Director Kubi Geotech Drill Results - 7.47 g/t Over 30.0m VANCOUVER, British Columbia, March 22, 2021 (GLOBE NEWSWIRE) -- Asante
About this update from Asante Gold Corporation
[{"type":"text","content":" Malik Easah Appointed Executive Director Kubi Geotech Drill Results - 7.47 g/t Over 30.0m VANCOUVER, British Columbia, March 22, 2021 (GLOBE NEWSWIRE) -- Asante Gold Corporation (CSE:ASE/ FRANKFURT:1A9/U.S.OTC:ASGOF) (“Asante” or the \"Company\") announces that assays have been received for the first hole of a three-hole geotechnical drill program at our Kubi Gold project in Ghana. DDHK21-001 was collared approximately 100m to the north of the Kubi Pit, near the middle of the *Kubi Main Mineral Resource. On this section gold mineralization has been previously outlined to a depth of 450m, the gold is free milling, and occurs within a near vertical 1km long by 1m to 15m thick shear bounded ‘garnet’ zone. Gold is associated with up to 30% garnet and 15% sulfide mineralization and as coarse gold in late quartz veins. The drilling has confirmed typical Kubi Main Zone gold mineralization (Table 1): 30.0m grading 7.47 g/t Au (true width estimated at 7.5m) including 14.31 g/t over 10.0m including 5.69 g/t over 9.0m including 10.75 g/t over 16.0m Given the presence of visible gold and the numerous high assays received, samples have been re-submitted for screened metallics assay which give more exact results when coarse gold is present. Further results will be announced as received. Magnetic susceptibility testing of the core has confirmed the strong magnetic signature of the garnet zone gold mineralization. This new information when combined with the recent 3D magnetic susceptibility inversion modelling suggests that garnet zone type mineralization may extend to +3km in depth ( https://www.asantegold.com/assets/Video/KubiTI3DMagInversion1.mp4 ). The Company also announces that the CAD$5.0 million private placement announced on March 16, 2021 has been oversubscribed, and the Company has accepted a further CAD$2.0 million of subscriptions for a total of CAD$7.0 million, and closed the ‘book’. Proceeds from the placement will be used for working capital, and for the exploration and development of the Company’s Kubi, Fahiakoba, Betenase and Keyhole gold projects in Ghana. The Company is also pleased to announce the appointment of Mr. Malik Easah as an Executive Director. Mr. Easah was a founding Director of Cardinal Resources Limited where he spearheaded the acquisition of all tenements and played a key role in the discovery and...