Asante Gold Corporation (CSE:ASE |
FRANKFURT:1A9 | U.S.OTC:ASGOF) (“Asante”
or the “Company”) is pleased to announce the appointment of
Frederick Attakumah as Executive Vice President and Country
Director with effect from April 1, 2022.
Mr. Attakumah holds a B.Sc. (Hons) in Electrical
Engineering from the Kwame Nkrumah University of Science and
Technology (Ghana) and a Master of Business Administration degree
from the Henley Business School (UK). He has thirty years’
experience in the mining industry spanning project development,
operations management, sustainability, and corporate affairs.
Prior to joining Asante, Mr. Attakumah was the
Executive Vice President and Managing Director of Asanko Gold Ghana
Limited. He has also held several senior executive roles including
Managing Director of AngloGold Ashanti (Ghana) Limited and Vice
President of Sustainability for AngloGold Ashanti’s operations in
Ghana.
At the industry level, he held the position of
First Vice President of the Ghana Chamber of Mines and concurrently
served as a member of the Governing Council of the Private
Enterprise Federation of Ghana (PEF). He has also served as
President of the Canada Ghana Chamber of Commerce which is focused
on building bilateral private sector relationships between Ghana
and Canada. Mr. Attakumah has been a strong advocate
for the positive role of the mining industry in the socio-economic
development of African countries and the criticality of a
multi-stakeholder approach in realizing this vision. He has
contributed to several local and international panels, including
the Mining Indaba, on this topic.
Commenting on the appointment, Dave Anthony, CEO
of Asante stated, “We are delighted to welcome Frederick as
Executive Vice President and Country Director of Asante. The
extraordinary capacity this appointment adds to our team supports
our intention to develop a first tier mining company in West
Africa. His proven leadership capacity, skill set and ability to
engage key stakeholders will be critical to the further development
and growth of Asante.”
In connection with the appointment of Frederick
Attakumah, the Company has granted 1,000,000 incentive stock
options to purchase common shares of the Company exercisable at
$1.75 per share for a term of five years, such options to vest
one-quarter on the date of grant and one quarter in each of six,
nine and 12 months subject to the provisions of the Company’s
Equity Incentive Plan.
About Asante Gold Corporation
Asante is a gold exploration, development, and
operating company with a high-quality portfolio of projects in
Ghana, Africa’s largest and most reliable gold producer. Asante is
currently focused on developing to production its Bibiani and Kubi
Gold mines located on the prolific Bibiani and Ashanti Gold Belts.
Asante has an experienced and skilled team of mine finders,
builders and operators, with extensive experience in Ghana.
Asante is listed on the Canadian Securities
Exchange and the Frankfurt Stock Exchange and has announced plans
to co-list its shares in Ghana. Asante is also exploring its
Keyhole, Fahiakoba and Betenase projects for new discoveries, all
adjoining or along strike of major gold mines near the centre of
Ghana’s Golden Triangle. Additional information is available on the
Company’s website at www.asantegold.com.
About the Bibiani Gold Mine
Bibiani is a historically significant gold mine
situated in the western region of Ghana, with previous gold
production close to 5 Moz. It is fully permitted with available
mining and processing infrastructure on-site consisting of a 3
million tonne per annum mill and processing plant, and existing
surface and mining infrastructure.
The Current Mineral Resource Estimate for
Bibiani, as reported in the Technical Report on the Bibiani Gold
Mine, Ghana, by Principal Author Ian M Glacken FAusIMM (CP), FAIG,
CEng and Qualified Person Dan Bansah MSc, MAusIMM (CP), FWAIMM,
MGIG, dated November 7, 2021, and filed on SEDAR, is Measured and
Indicated 20.1 million tonnes at 2.71 grams of gold per tonne for
1.81 Moz of gold, plus Inferred 8.41 million tonnes at 2.78 grams
of gold per tonne for 0.75 Moz of gold from an open pit mine. The
Mineral Resource has been reported above a 0.65 g/t gold cut-off
and has been depleted for both historical open pit and underground
development as of August 31, 2017. The Bibiani Main Pit mineral
resource has been prepared by Competent Persons (Optiro, 2017)
using accepted industry practices and have been classified and
reported in accordance with the JORC Code (JORC, 2012). There are
no material differences between the definitions of Measured,
Indicated and Inferred Mineral Resources under the CIM Definition
Standards and the equivalent definitions in the JORC Code. The
Satellite pit resource is an update completed in 2018 by Resolute
Mining Limited. The Satellite pit resource is also reported above a
cut-off grade of 0.65 g/t gold inside a pit shell defined at a gold
price of US$1,950. Mineral resources that are not mineral reserves
do not have demonstrated economic viability.
For further information please
contact:
Dave Anthony, President & CEO: +1 647 382
4215 (Canada) or +233 558 799 3309 (Ghana) or
dave@asantegold.comMalik Easah, Executive Director,
malik@asantegold.comAlec Rowlands, Capital Markets Consultant,
alec@asantegold.comValentina Gvozdeva, Manager IR,
mailto:valentina@asantegold.comKirsti Mattson, Media Relations,
kirsti.mattson@gmail.com
Cautionary Statement on Forward-Looking
Statements
This news release contains forward-looking
statements. Forward-looking statements involve risks, uncertainties
and other factors that could cause actual results, performance,
prospects, and opportunities to differ materially from those
expressed or implied by such forward-looking statements, including
statements regarding the resources, reserves, exploration results,
and development program at Bibiani, including timing of future mine
development and the start of production. Factors that could cause
actual results to differ materially from these forward-looking
statements include, but are not limited to, variations in the
nature, quality and quantity of any mineral deposits that may be
located, the Company's inability to obtain any necessary permits,
consents or authorizations required for its planned activities, and
the Company's inability to raise the necessary capital or to be
fully able to implement its business strategies. The reader is
referred to the Company's public disclosure record which is
available on SEDAR (www.sedar.com). Although the Company believes
that the assumptions and factors used in preparing the
forward-looking statements are reasonable, undue reliance should
not be placed on these statements, which only apply as of the date
of this news release, and no assurance can be given that such
events will occur in the disclosed time frames or at all. Except as
required by securities laws and the policies of the Canadian
Securities Exchange, the Company disclaims any intention or
obligation to update or revise any forward-looking statement,
whether as a result of new information, future events or
otherwise.
LEI Number: 529900F9PV1G9S5YD446. Neither IIROC
nor any stock exchange or other securities regulatory authority
accepts responsibility for the adequacy or accuracy of this
release.
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