Asante Gold begins mining at Russel Starter Pit in Bibiani Gold Mine

Asante Gold Corporation has announced the commencement of mining at the Russel Starter Pit at the Bibiani Gold Mine following the receipt of key permits from Ghanaian authorities. The company confirmed the delivery of the first mineralised material to the process plant from the Russel deposit, which is located 3.8 kilometres from the Bibiani process plant. This new mining initiative is part of Asante’s strategy to increase gold production to over 500,000 ounces annually by 2028.

The Russel deposit contains 119,000 ounces of measured and indicated gold resources with an average grade of 1.80 grams per tonne. This pit is the third satellite deposit explored and developed by Asante since acquiring the Bibiani properties. The company’s President and CEO, Dave Anthony, emphasized that this milestone marks another key step in Asante’s expansion. He also highlighted that the ongoing development of the Bibiani sulphide treatment plant and the re-routing of the Bibiani-Goaso highway have paved the way for further exploration and production growth.

First mining material processed

Mining from the upper benches of the Russel Starter Pit commenced on 17 September 2024, and the initial batch of oxide material has been delivered to the process plant. The Ghanaian authorities, including the Environmental Protection Agency and the Minerals Commission, issued permits earlier in the month, allowing the mine to begin operations.

Asante also engaged Vuluxx Company Limited, a local Ghanaian contractor, to oversee the site preparation and infrastructure work. Vuluxx mobilised its team to the site in May 2024, completing the construction of a one-kilometre haulage road to the existing mining infrastructure. The oxide material is expected to yield a 90% gold recovery rate through gravity and carbon-in-leach treatment.

Projected production and timelines

The Russel Starter Pit is expected to operate for 15 months before transitioning to Russel Cut 2. Over the course of 30 months, it is projected to deliver 1.9 million tonnes of material with a grade of 1.62 grams per tonne to the Bibiani process plant. The pit, stretching over 390 metres, will reach a depth of 168 metres. Asante plans to excavate the initial 50 metres of the pit without the use of explosives.

The company is exploring the potential of underground mining at the Russel site as it extends the known resource down plunge and along strike to the south. Drilling is ongoing to convert inferred mineralisation and confirm underground mining feasibility.

Future growth and development

Asante Gold Corporation’s growth strategy involves not only the expansion of the Bibiani Gold Mine but also the development of other key projects in Ghana, including the Chirano Gold Mine and the Kubi Gold Project. The company’s extensive technical studies and exploration efforts are centred around Ghana’s renowned Bibiani and Ashanti Gold Belts.

Asante continues to strengthen its position in Ghana’s gold mining industry with a strong focus on sustainable and community-centred operations. Vuluxx, the Ghanaian contractor involved in the Russel project, boasts over 24 years of industry experience, contributing to the local economy and demonstrating Asante’s commitment to involving local partners in its operations.

The Russel Starter Pit marks another significant milestone for Asante as it pushes forward to achieve its ambitious production targets. With ongoing exploration at several other sites, Asante is well-positioned for continued success in Ghana’s Golden Triangle.