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Asante Gold: Private Placement Announced for IP Anomaly Trenching Program - Kubi Gold Project - Ghana SMD Update
VANCOUVER, British Columbia, Jan. 13, 2020 (GLOBE NEWSWIRE) -- Asante Gold Corporation (CSE:ASE/ FRANKFURT:1A9) (“Asante” or the "Company") announces a best eff
About this update from Asante Gold Corporation
[{"type":"text","content":" VANCOUVER, British Columbia, Jan. 13, 2020 (GLOBE NEWSWIRE) -- Asante Gold Corporation (CSE:ASE/ FRANKFURT:1A9) (“Asante” or the \"Company\") announces a best efforts private placement to accredited and exempt investors (“Private Placement”), of up to 3,000,000 units at $0.05 per unit (each a “*Unit”), for aggregate gross proceeds of up to $150,000. Proceeds from the private placement will be used to complete a trenching program on newly outlined IP targets on our Kubi Gold project and for general working capital purposes. Douglas MacQuarrie, President and CEO states, “At Kubi, the tenor of the gold mineralization is directly related to the sulfide content. Geophysical IP highs are often indicative of sulfide mineralization. The discovery of numerous IP high anomalies, brownfields to our **Kubi Main gold resource, opens up extensive opportunities for resource expansion.” The Company also announces that the field program to expose the gold mineralization in the north face of the Kubi pit has been successfully completed. Work consisted of: cleaning debris and some vegetation from the first two benches of the pit to expose fresh rock; the establishment of local survey control points in order to accurately locate collars for the proposed ***SMD pilot hole; and the taking of grab samples (5.93g/t Au over 3.0 metre true width), to confirm the boundaries of the gold mineralized zone. For further information on SMD, please see our Asante Gold press release dated March 11, 2019 at: http://www.asantegold.com/news/asante-gold-explores-new-mining-technology-for-kubi-gold-project-ghana . A map of the high priority near pit IP target and the other high potential IP trends is available at: http://www.asantegold.com/assets/docs/KubiEIPTrendsN12imgSEMSResourceDDHGoogleImg.pdf and on our Kubi Gold Mine Project page at: http://www.asantegold.com/projects/kubi-gold-mine . On behalf of the Board,\"Douglas R. MacQuarrie\"President and CEO Scientific and technical information contained in this news release has been reviewed and approved by Douglas R. MacQuarrie, P.Geo. (B.C.) Geology & Geophysics, the President and CEO of the Company, who is a \"qualified person\" under NI 43-101. Approximate 4kg grab samples were taken at 1.0m intervals and analyzed for gold by fire assay AA on a 50 gram sample charge at A...