Asante Gold targets 500,000 Ounces by 2028
By Daniel NONOR, Accra
ASANTE Gold Corporation has announced a significant milestone in its operations at the Bibiani Gold Mine in Ghana, with the delivery of the first mineralized material from the Russel Starter Pit to the process plant.
This development follows the successful receipt of all necessary permits and marks a crucial step in company’s plan to increase its gold production to over 500,000 ounces by 2028.
The Russel deposit, located just 3.8 kilometres from the Bibiani process plant, contains 119,000 ounces of measured and indicated gold resources at an open-pit grade of 1.80 grams per tonne, a mineral composition similar to that of the Bibiani Main Pit.
Dave Anthony, President and CEO of Asante Gold, hailed the start of production at the Russel pit as a significant achievement for the company.
“This is the third satellite pit explored, defined, and optimized by Asante since acquiring the Bibiani properties,” he said .
“The start of production at Russel represents another successful milestone on our journey to grow Asante’s production to more than 500,000 ounces by 2028. Approval for mining at Russel follows other major catalysts, including the re-routing of the Bibiani-Goaso highway, which will allow us to access additional oxide mineralized material, and further progress on the construction of the Bibiani sulphide treatment plant.”
The first oxide mineralized material was mined from the upper benches of the Russel Starter Pit on September 17, 2024, marking the official start of operations. Extensive engagement with local communities, traditional leaders, and stakeholders played a pivotal role in securing the necessary permits.
The Ghana Environmental Protection Agency (EPA) granted a supplementary permit for mining at Russel on September 10, 2024, followed by an updated Mine Operating Permit issued by the Minerals Commission of Ghana on September 16, 2024.
Vuluxx Company Limited, a Bibiani-based Ghanaian contractor, has been engaged to complete site preparation work, including the construction of a one-kilometer haulage road linking existing mining infrastructure.
The company’s work began in May 2024 and includes vegetation clearing, topsoil stockpiling, and preparatory tasks. Vuluxx’s management team, boasting over 24 years of industry experience, has mobilized a fleet of excavators and haul trucks to support the mining operations.
The oxides from the Russel Starter Pit are expected to yield a 90% gold recovery through a gravity and carbon-in-leach treatment process. The mining fleet has been fully mobilized, and production is expected to reach a full run rate by October 30, 2024.
The Russel Starter Pit will operate for an initial 15-month period, producing 1.9 million tonnes of mineralized material at a grade of 1.62 grams per tonne over a span of 30 months.
This material will be transported to the Bibiani process plant, supplementing the oxides from the Bibiani Main Pit, which have become accessible following the diversion of the Bibiani-Goaso highway.
With a length of over 390 meters and a depth of 168 meters, the pit’s design parameters are consistent with those determined by international consulting group SRK.
The Russel deposit is oxidized to a depth of 60 meters, transitioning into sulphide mineralization at 80 meters. Mining operations will be conducted without explosives for the first 50 meters, further enhancing operational efficiency.
Asante Gold is also looking ahead with plans to extend the Russel resource down-plunge and along strike to the south. Current drilling aims to not only confirm additional inferred mineralization but also assess the potential for transitioning to underground mining.
A preliminary study into underground mining at Russel will be aligned with Asante’s long-term strategy to maximize gold production across its Bibiani and Chirano assets. Anthony added, “Once fully ramped up, Bibiani-Chirano will be the seventh largest gold-producing district in Africa and the only Tier One Gold District in Africa held outside of a major gold producer.”
