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Asanko Gold Announces Q2 2019 Production Results
VANCOUVER, British Columbia, July 10, 2019 (GLOBE NEWSWIRE) -- Asanko Gold Inc. (“Asanko” or the “Company”) (TSX, NYSE American: AKG) is pleased to announce pro
About this update from Galiano Gold, Inc.
[{"type":"text","content":" VANCOUVER, British Columbia, July 10, 2019 (GLOBE NEWSWIRE) -- Asanko Gold Inc. (“Asanko” or the “Company”) (TSX, NYSE American: AKG) is pleased to announce production results for the second quarter (“Q2”) 2019 from the Asanko Gold Mine (“AGM”), located in Ghana, West Africa. The AGM is a 50:50 joint venture (“JV”) with Gold Fields Ltd (JSE, NYSE: GFI) which is managed and operated by Asanko. All dollar figures are US$ unless otherwise stated. AGM Q2 Highlights (100% basis): Record proceeds of $85.6 million generated from record gold sales of 66,337 ounces at an average realized price of $1,290 per ounce Record gold production of 62,067 ounces, on track to meet 2019 production guidance Mined 1.06 million tonnes (“Mt”) of ore, including 0.53Mt of ore from the Esaase pit Processed record 1.38Mt of ore with an average gold grade of 1.5 grams per tonne (“g/t”) Continued strong safety performance with no lost time injuries during the quarter “Q2 2019 has been a very strong quarter with the Asanko Gold Mine setting new records in production, sales and revenue. This is particularly impressive given we are in the final stages of waste mining the Cut 2 pushback at Nkran. The Cut 2 pushback will essentially be finished in Q3 2019, marking the end of our investment program, and will enable the mine to focus on cash generation.” commented Greg McCunn, Chief Executive Officer. “We remain on track to achieve our 2019 annual production guidance of 225,000 to 245,000 ounces.” Health and Safety There were no lost time injuries (“LTI”) reported during the quarter. As at June 30, 2019, the mine achieved over 27 months without an LTI. Production During the quarter, the AGM sourced ore from the Nkran, Esaase and Dynamite Hill pits as well as run-of-mine stockpiles. At Nkran, waste mining operations entered the final stage of the western pushback, which is scheduled for substantial completion in Q3 2019. During the quarter, 5.75Mt of waste and 0.09Mt of ore at a gold grade of 1.5 g/t were mined from the Nkran pit. The Esaase pit delivered 0.53Mt of ore at a gold grade of 1.6 g/t with 1.10Mt of waste mined. Dynamite Hill delivered 0.43Mt of ore at a gold grade of 1.6g/t with 0.95Mt of waste mined. The processing plant milled 1.38Mt at a gold grade of 1.5 g/t during the quarter with metallurgical recovery averaging 93%. AGM Key Production Statist...