Wednesday 7th December 2016

Resource Clips


Posts tagged ‘Golden Star Resources Ltd (GSC)’

Golden Star reports Ghana Results up to 32 g/t Gold over 26m

May 2nd, 2012

Resource Clips - essential news on junior gold mining and junior silver miningGolden Star Resources Ltd TSX:GSC announced assays from its Wassa Mine in Ghana. Highlights include

32 g/t gold over 26 metres
4.8 g/t over 20.1 metres
11.9 g/t over 6.8 metres
9.5 g/t over 6.3 metres
3.2 g/t over 15 metres
1.6 g/t over 26.2 metres
4.4 g/t over 9.3 metres
3.2 g/t over 11.3 metres

Golden Star holds a 90% equity interest in Golden Star (Bogoso/Prestea) Ltd and Golden Star (Wassa) Ltd, which respectively own the Bogoso/Prestea and Wassa/HBB open-pit gold mines in Ghana.

President/CEO Tom Mair commented, “The Wassa operations have been considered by most observers to have a limited mine life but our operations and exploration teams have long recognized the potential of this area through the mining of the Wassa deposits over the years. Deep drilling programs are beginning to unlock the full potential of the Wassa area. Once we have completed our resource models during the second half of the year we should be able to get a better view of the future of Wassa Mine.”

View Company Profile

Contact:
Bruce Higson-Smith
Senior VP of Finance and Corporate Development
800.553.8436

by Greg Klein

Golden Star reports Ghana Results as high as 15.8 g/t Gold over 29m

February 7th, 2012

Resource Clips - essential news on junior gold mining and junior silver miningGolden Star Resources Ltd TSX:GSC announced assays from its Wassa Mining Lease in Ghana. Results include

15.8 g/t gold over 29 metres
5.4 g/t over 43.8 metres
3.9 g/t over 43.1 metres
6.6 g/t over 20.9 metres
2.2 g/t over 56 metres
6.9 g/t over 16 metres
1.7 g/t over 51 metres
3.1 g/t over 27.1 metres

Golden Star holds a 90% equity interest in Golden Star (Bogoso/Prestea) Ltd and Golden Star (Wassa) Ltd, which respectively own the Bogoso/Prestea and Wassa/HBB open-pit gold mines in Ghana.

VP of Exploration Mitchel Wasel commented, “We have been drilling the Wassa extensions for over a year now and our efforts are beginning to pay off with promising results at depth and along strike. If our interpretation of the B shoot and 242 zones linking at depth around the F3 fold closure are realized, there is great potential to significantly change the dynamics of the Wassa Deposit. Our drilling efforts for 2012 will focus on the Wassa main deposit, testing this interpretation.”

View Company Profile

Contact:
Bruce Higson-Smith
Senior VP of Finance and Corporate Development
800.553.8436

by Greg Klein

Golden Star reports Ghana Results of 4.1 g/t Gold over 29.1m

September 15th, 2011

Resource Clips - essential news on junior gold mining and junior silver miningGolden Star Resources Ltd TSX:GSC announced results from the Buesichem North Pit Ramp of its Bogoso/Prestea concessions in Ghana. Assays include 4.1 g/t gold over 29.1 metres (including 11.5 g/t over 3 metres), 4.8 g/t over 23.4 metres (including 7.8 g/t over 10 metres), 4.3 g/t over 21.6 metres (including 5.4 g/t over 16 metres), 3.3 g/t over 25.3 metres and 2.7 g/t over 26.3 metres (including 4.3 g/t over 18.8 metres).

VP of Exploration Mitchel Wasel remarked, “This shoot beneath the Buesichem North Pit ramp shows the potential of developing new high-grade zones within this mature mining area. The area tested appears to be the northern extent of the Main Buesichem plunging shoot. The Buesichem North, Buesichem Main and Buesichem South high-grade ore shoots remain open at depth.”

View Company Profile

Contact:
Bruce Higson-Smith
VP of Corporate Development
800.553.8436

by Greg Klein

The Beverly Hills of West Africa

July 12th, 2011

Pelangio is Surrounded by Gold Coast Giants

By Ted Niles

Brendan Cahill can’t think of a better place to be. “Ghana is kind of the Beverly Hills of gold exploration,” declares the VP of Corporate Development for Pelangio Exploration. “It’s all big players and stars out there.” Among them: Kinross, AngloGold Ashanti, Newmont, Gold Fields and Golden Star. Cahill says, “Those guys are there because it’s the best place in the world to work, and we’re lucky to have over 500 square kilometres. The combination of potential for massive deposits and a really supportive government and a well-trained workforce—I don’t think there’s a place in the world like it.”

Of its three properties in the West African nation—Obuasi, Manfo and Akroma—Pelangio’s Manfo property has received the lion’s share of attention so far. Manfo comprises 100 square kilometres and is located on the Sefwi Greenstone Belt. Cahill refers to it as a “company-making property,” and there might be something to that, given that Kinross’s Chirano Mine is located a mere 14 kilometres to the southwest, and Newmont’s Ahafo Mine is 50 kilometres to the north. Cahill remarks, “[Manfo] is one that people can invest in and be sure that there’s something there.”

Pelangio is Surrounded by Gold Coast Giants

Pelangio reported its first drill results from Manfo as recently as September 2010, so a date for a resource estimate hasn’t yet been decided, although Cahill estimates that it will likely be sometime in 2012. He explains, “When we got on the property, it was about trying to understand the geology, trying to understand exactly what we have. We’re at the stage now where we can start trying to prove up and grow the ounces as we work towards getting a resource together.”

Pelangio in currently in the middle of a 25,000-metre drill program at Manfo, focusing on four targets there: Pokukrom East, Pokukrom West, Nfante East and Nfante West. “We’ve got bulk tonnage and high grade, and there’s lots of room for other discoveries that we’re working on as well,” Cahill says. “So the aim is to have another drill on the property within the next few weeks, and that’ll give us quicker turnaround time in terms of results and also let us grow ounces quicker.”

July 11 Manfo assays include 1 gram per tonne gold over 50 metres, 1.12 g/t over 23 metres, 1.85 g/t over 17 metres (including 7 g/t over 4 metres) and 0.81 g/t over 54 metres (including 1.01 g/t over 38 metres). May 24 assays included 2.6 g/t gold over 19 metres (including 5.79 g/t over 8 metres), 14.1 g/t over 7 metres and 0.99 g/t over 22 metres (including 2.95 g/t over 6 metres). Cahill comments, “We are putting together some great strike at Pokukrom East, Pokukrom West and at Nfante West. It’s a matter of drilling them up to resource standard over the next year or so.”

A 5,000-metre drill program is also underway at Pelangio’s Obuasi property, adjacent to and on-strike with AngloGold’s Obuasi Mine, which produced 317,000 ounces gold in 2010. Cahill is optimistic about its prospects: “We have some really good targets there. If we don’t hit on the first go around, then we’ll go back and drill them again, because some of the targets warrant it.” He adds, “[Obuasi] is a potential game-changer. If we hit there, all bets are off.”

Between the company-maker and the game-changer, Pelangio has much to consider. But, insists Cahill, “All we can do is focus on what we can control right now. That’s putting together a really solid resource.”

We think we’re on to the next big gold deposit there; it’s just going to take work to get it together —Brendan Cahill

He continues, “We have a team that can go well beyond that stage, but once we get the resource done, then we’ll look about ourselves and see whether going to production is the way to do it.” He suggests the possibility, for instance, of Pelangio spinning the project out into another company—as it did in 2007 with its Detour Lake project in Ontario. “The wild card is always whether you get taken out along the way. But that’s not something we can control.”

In addition to its Ghana properties, Pelangio has several in Canada, including Ontario’s Birch Lake and Poirier properties. At press time, the company has 138.1 million shares trading at $0.57 for a market cap of $78.7 million.

“Everything we get continues to underline the fact that we’re on to something really significant,” Cahill concludes. “We think we’re on to the next big gold deposit there; it’s just going to take work to get it together.”