Intercepts include 94.0m1,2 grading 4.4 g/t Au from
1,305.7m
TORONTO, Feb. 14, 2018 /PRNewswire/ - Golden Star
Resources Ltd. (NYSE American Exchange: GSS; TSX: GSC; GSE: GSR)
("Golden Star" or the "Company") is pleased to report further
results from the step-out drilling of the high grade Wassa
Underground Gold Mine ("Wassa Underground") in
Ghana.
HIGHLIGHTS2:
B Shoot and F Shoot South
- Assay results received for four 'daughter' diamond drill ("DD")
holes on the previously announced 'mother' hole targeting the Wassa
Underground ore body at depth
- Latest results confirm that the F Shoot, in addition to the
high grade B Shoot zone, extends 180 metres ("m") to the south of
Wassa Underground's Inferred Mineral Resources (600m to the south of the current Mineral
Reserves)
- These results have also intersected the thickest zone of gold
mineralization at Wassa received to date:
-
- 94.0m grading 4.4 grams per tonne
("g/t") of gold ("Au") from 1,305.7m
in hole BS17DD385D3, including:
-
- 18.4m grading 8.3 g/t Au from
1,305.7m
- 29.8m grading 4.5 g/t Au from
1,353.0m
- Further drilling results from the B Shoot South and F Shoot
South (from surface) expected in the second quarter of 2018
B Shoot North
- Assay results received from two DD holes drilled from
underground testing the northern extension of the B Shoot
- Significant intercepts include:
-
- 27.1m grading 8.7 g/t Au from
209.9m in hole BS17-720-29,
including:
-
- 8.3 m grading 22.2 g/t Au from
231m
- 11.4 m grading 7.3 g/t Au from
219 m in hole BS17-745-17
- These results suggest the potential to add stopes into Wassa
Underground's near term mine plan
242 FW
- Assay results received for three DD holes testing a new
underground target in the footwall of the 242 trend, which is known
as 242 FW
- Significant intercepts include:
-
- 6.8m grading 8.2 g/t Au from
488.0m in hole 242DD17006
- If further drilling of 242 FW is successful, it has the
potential to supply additional underground ore to the Wassa
processing plant and increase production
Notes
|
1. This number
represents an estimated true width. The drilled width
intersected was 211.3m.
|
2. All widths quoted
in this press release are estimated true widths. The full set
of intercepts, including the drilled widths, are included in
Appendix A.
|
Sam Coetzer, President and
Chief Executive Officer of Golden
Star, commented:
"These exciting intercepts from the B Shoot South and F Shoot
South continue to support our belief that Wassa has substantial
potential at depth. They provide further confirmation that
the ore body extends approximately 600m to the south of the current Mineral Reserves
and remains open. Importantly, they also suggest that it may
widen at depth. We believe that Wassa is significantly larger
than the current Mineral Resource estimate suggests and during 2018
we will continue to test its extensions through further
drilling. Wassa Underground is a central part of our
exploration strategy in 2018 and I look forward to releasing
further information about our other exploration targets during this
quarter."
DRILLING RESULTS
During the second half of 2017 Golden Star's exploration
program continued to test the extent of the B Shoot and F
Shoot zone of Wassa Underground from surface. Its three
focuses were down plunge to the south of the Inferred Mineral
Resources, up plunge of the planned stoping areas and into the 242
trend, which has previously been mined from surface.
During the course of drilling to the south, the exploration team
identified that they had intersected the F Shoot, as well as the B
Shoot. The F Shoot was mined for nine months at the start of
Wassa Underground's mine life before the decline reached the B
Shoot ore body. Golden Star
also intersected a new horizon of mineralization in the footwall of
the 242 trend, which has been named 242 FW.
B Shoot South and F Shoot South
The 2017 B Shoot South step out
drilling program comprised 6,818m in
total and included one 'mother' hole with four directional
'daughter' holes, wedged and drilled at an angle from the mother
hole.
The mother hole, BS17DD385M, was collared 180m to the south of Wassa Underground's current
Inferred Mineral Resources. Its objective was to test the
down plunge projection of the 70.5m1 zone of mineralization grading
5.9 g/t Au from a depth of 742.4m,
which was intersected in hole BSDD315M drilled during the previous
deep drilling campaign in 20142. The results of
this hole were reported on September 19,
2017 and they confirmed that the high grade zone extended
180m to the south of Wassa's Inferred
Mineral Resources3.
The results from the four daughter holes provide further
confirmation of the extension of the ore body, although the zones
are believed to be related to the F Shoot trend, rather than the B
Shoot, due to the nature of the folding. The daughter holes
were wedged and drilled at angles both above and below the mother
hole, testing the zone over approximately 400m of dip extension. The thickest zone of
gold mineralization drilled to date at Wassa was reported from the
third daughter hole: 94.0m1 averaging 4.4 g/t Au from
1,305.7m. These results confirm
the B Shoot and F Shoot's extensions to the south and further
drilling is expected in 2018.
In addition to these directional holes, four holes tested the F
Shoot Inferred Mineral Resource up plunge, north towards the
existing Mineral Reserve (on sections 19100, 19300 and 19500),
including two new holes and two existing holes, which were
re-entered and deepened.
B Shoot North
In the second half of 2017, two DD holes (612m) were drilled from within the existing
workings of Wassa Underground to confirm the high grade results
drilled from surface earlier in 2017. These holes tested the
B Shoot zone approximately 50m to the
north of the last planned stopes on 695 Level, following up on the
significant intercept reported in surface hole BS17DD003 of
23.8m1 grading 7.3 g/t Au
from 289.9m, which was announced on
September 19,
2017.2
The first of the new holes (BS17-720-29), which was drilled
across the top of the interpreted zone, confirmed the grades and
thicknesses intersected in the earlier hole, including 27.1m1 grading 8.7 g/t Au from
209.9m. The second new hole,
(BS17-745-17), drilled approximately 20m up dip of the first new hole, also reported a
significant intercept: 11.4m1 grading 7.3 g/t Au from
219.0m. This confirmed the
continuity of the gold mineralization 50m to the north of the planned stoping area.
Further drilling is planned in 2018 with the aim of delineating
additional stopes to the north of the current underground workings,
pending positive economics. Results for several of the other
2017 surface holes were also received during the fourth quarter of
2017 and they are summarized in Appendix A.
242 FW
The 242 zone is located in the flatter dipping western limb of
the Wassa deposit scale fold. The 242 FW underground target
was discovered in 2017 and it is the first time that Golden Star has investigated the potential of
the foot wall horizon.
Three holes were drilled into the footwall approximately
300m below the area that the Company
had mined previously. The northernmost hole (hole 24217DD006)
returned an intercept of 6.8m1 grading 8.2 g/t Au from
488.0m and as a result, further
drilling has been included in the 2018 exploration budget.
This drilling is expected to commence in the second half of
2018.
Notes
|
1.
|
All widths quoted in
this press release are estimated true widths. The full set of
intercepts, including the drilled widths, are included in Appendix
A.
|
2.
|
See press release
'Golden Star has Continued Exploration Drilling Success at Wassa',
dated July 30, 2014
|
3.
|
See press release
'Golden Star Extends High Grade B Shoot Zone Through Step Out
Drilling at Wassa Underground Gold Mine', dated September 19,
2017
|
Significant Intercepts
The full set of drilling results is listed in Appendix A and
includes several compelling intercepts, as set out below.
Further drill sections showing the location of the drill holes are
available at:
http://www.gsr.com/operations/wassa/wassa-main
Significant intercepts from drilling of Wassa Underground
(from surface)
HOLE
ID
|
Azimuth
(°)
|
Dip
(°)
|
From
(m)
|
To
(m)
|
Drilled Width
(m)
|
~True Width
(m)
|
Grade Au
(g/t)
|
B Shoot South and
F Shoot South
|
BS17DD385D1
|
80.6
|
-53.3
|
872.0
|
904.0
|
32.0
|
26.7
|
3.2
|
BS17DD385D2
|
51.8
|
-66.5
|
1137.0
|
1142.0
|
5.0
|
4.3
|
25.9
|
BS17DD385D2
|
44.1
|
-60.7
|
1270.0
|
1278.2
|
8.2
|
7.4
|
5.7
|
BS17DD385D3
|
72.1
|
-79.9
|
942.0
|
961.6
|
19.6
|
15.0
|
3.6
|
BS17DD385D3
|
51.7
|
-73.6
|
1305.7
|
1517.0
|
211.3
|
94.0
|
4.4
|
BS17DD385D3
|
Including
|
1305.7
|
1319.7
|
14.0
|
6.2
|
18.1
|
BS17DD385D3
|
Including
|
1420.0
|
1432.0
|
12.0
|
9.8
|
4.3
|
BS17DD385D3
|
Including
|
1471.0
|
1480.0
|
9.0
|
6.0
|
4.7
|
BS17DD385D3
|
Including
|
1305.7
|
1344.0
|
38.3
|
18.4
|
8.3
|
BS17DD385D3
|
Including
|
1353.0
|
1415.0
|
62.0
|
29.8
|
4.5
|
BS17DD385D3
|
Including
|
1495.0
|
1509.0
|
14.0
|
6.7
|
8.6
|
BS17DD385D4
|
93.0
|
-43.7
|
814.8
|
823.2
|
8.4
|
7.7
|
5.2
|
BS17DD386M
|
98.1
|
-60.1
|
818.0
|
828.0
|
10.0
|
6.4
|
3.2
|
BS17DD386M
|
Including
|
821.0
|
824.0
|
3.0
|
1.9
|
7.3
|
BSDD308M
|
69.7
|
-67.4
|
1058.0
|
1069.0
|
11.0
|
7.4
|
3.1
|
B Shoot
North
|
BS17-720-29
|
270.6
|
-10.6
|
209.9
|
246.0
|
36.1
|
27.1
|
8.7
|
BS17-720-29
|
Including
|
231.0
|
242.0
|
11.0
|
8.3
|
22.2
|
BS17-745-17
|
276.0
|
-4.2
|
219.0
|
236.0
|
17.0
|
11.4
|
7.3
|
BS17-745-17
|
Including
|
228.0
|
233.0
|
5.0
|
3.4
|
18.5
|
242
FW
|
24217DD006
|
322.2
|
-64.0
|
488.0
|
495.0
|
7.0
|
6.8
|
8.2
|
All widths quoted in the press release are approximate true
widths based on Golden Star's
current geological knowledge and interpretations.
Company Profile:
Golden Star is an established
gold mining company that owns and operates the Wassa and Prestea
mines in Ghana, West Africa. Listed on the NYSE American, the
Toronto Stock Exchange and the Ghanaian Stock Exchange,
Golden Star is focused on delivering
strong margins and free cash flow from its two high grade, low cost
underground mines. Gold production guidance for 2018 is
230,000-255,000 ounces at a cash operating cost per ounce of
$650-730. As the winner of the
PDAC 2018 Environmental and Social Responsibility Award,
Golden Star is committed to leaving
a positive and sustainable legacy in its areas of operation.
APPENDIX A
Assay results received from the drilling of Wassa Underground
targets in the second half of 2017
HOLE
ID
|
Azimuth
(°)
|
Dip
(°)
|
From
(m)
|
To
(m)
|
Drilled Width
(m)
|
~ True Width
(m)
|
Grade Au
(g/t)
|
B Shoot South and
F Shoot South
|
BS17DD385D1
|
80.6
|
-53.3
|
872.0
|
904.0
|
32.0
|
26.7
|
3.2
|
BS17DD385D1
|
80.6
|
-53.2
|
934.0
|
953.0
|
19.0
|
15.9
|
3.1
|
BS17DD385D1
|
80.2
|
-52.9
|
979.8
|
982.8
|
3.0
|
2.5
|
5.4
|
BS17DD385D2
|
51.8
|
-66.5
|
1137.0
|
1142.0
|
5.0
|
4.3
|
25.9
|
BS17DD385D2
|
44.1
|
-60.7
|
1270.0
|
1278.2
|
8.2
|
7.4
|
5.7
|
BS17DD385D3
|
91.0
|
-76.0
|
674.4
|
680.6
|
6.2
|
5.0
|
5.5
|
BS17DD385D3
|
89.5
|
-76.5
|
705.0
|
719.9
|
14.9
|
12.0
|
2.8
|
BS17DD385D3
|
74.1
|
-80.1
|
883.0
|
887.0
|
4.0
|
3.1
|
3.7
|
BS17DD385D3
|
72.1
|
-79.9
|
942.0
|
961.6
|
19.6
|
15.0
|
3.6
|
BS17DD385D3
|
69.7
|
-79.6
|
986.5
|
997.0
|
10.5
|
8.1
|
3.6
|
BS17DD385D3
|
51.7
|
-73.6
|
1305.7
|
1517.0
|
211.3
|
94.0
|
4.4
|
BS17DD385D3
|
Including
|
-73.6
|
1305.7
|
1319.7
|
14.0
|
6.2
|
18.1
|
BS17DD385D3
|
Including
|
-71.5
|
1420.0
|
1432.0
|
12.0
|
9.8
|
4.3
|
BS17DD385D3
|
Including
|
-71.3
|
1471.0
|
1480.0
|
9.0
|
6.0
|
4.7
|
BS17DD385D3
|
Including
|
-71.3
|
1305.7
|
1344.0
|
38.3
|
18.4
|
8.3
|
BS17DD385D3
|
Including
|
-71.3
|
1353.0
|
1415.0
|
62.0
|
29.8
|
4.5
|
BS17DD385D3
|
Including
|
-71.3
|
1495.0
|
1509.0
|
14.0
|
6.7
|
8.6
|
BS17DD385D4
|
92.5
|
-44.3
|
792.0
|
802.8
|
10.8
|
9.8
|
2.5
|
BS17DD385D4
|
93.0
|
-43.7
|
814.8
|
823.2
|
8.4
|
7.7
|
5.2
|
BS17DD385D4
|
93.8
|
-43.2
|
840.0
|
845.0
|
5.0
|
4.6
|
4.0
|
BS17DD385D4
|
94.6
|
-42.8
|
862.0
|
866.0
|
4.0
|
3.7
|
4.4
|
BS17DD386M
|
312.0
|
335.2
|
312.0
|
335.2
|
23.2
|
20.1
|
2.0
|
BS17DD386M
|
98.1
|
-60.1
|
818.0
|
828.0
|
10.0
|
6.4
|
3.2
|
BS17DD386M
|
Including
|
-60.1
|
821.0
|
824.0
|
3.0
|
1.9
|
7.3
|
BS17DD387M
|
94.5
|
-53.3
|
514.0
|
527.0
|
13.0
|
9.5
|
0.8
|
BS17DD387M
|
95.1
|
-52.6
|
543.0
|
552.0
|
9.0
|
6.6
|
1.1
|
BSDD308M
|
69.7
|
-67.4
|
1058.0
|
1069.0
|
11.0
|
7.4
|
3.1
|
BSDD308M
|
65.3
|
-66.0
|
1148.1
|
1148.9
|
0.8
|
0.6
|
20.5
|
BSDD347
|
|
|
No sig
intersection
|
|
|
|
|
B Shoot
North
|
BS17-720-29
|
270.6
|
-10.6
|
209.9
|
246.0
|
36.1
|
27.1
|
8.7
|
BS17-720-29
|
Including
|
-10.6
|
231.0
|
242.0
|
11.0
|
8.3
|
22.2
|
BS17-720-29
|
270.6
|
-10.6
|
270.0
|
285.0
|
15.0
|
11.3
|
3.2
|
BS17-745-17
|
276.0
|
-4.2
|
175.0
|
187.2
|
12.2
|
8.2
|
4.2
|
BS17-745-17
|
276.0
|
-4.2
|
219.0
|
236.0
|
17.0
|
11.4
|
7.3
|
BS17-745-17
|
Including
|
-4.2
|
228.0
|
233.0
|
5.0
|
3.4
|
18.5
|
BS17-745-17
|
276.0
|
-4.2
|
254.0
|
257.0
|
3.0
|
2.0
|
11.1
|
BS17DD004
|
90.4
|
-58.5
|
190.0
|
205.0
|
15.0
|
15.0
|
4.9
|
BS17DD004
|
Including
|
-58.5
|
201.0
|
203.0
|
2.0
|
2.0
|
17.5
|
BS17DD008
|
91.1
|
-72.1
|
141.5
|
154.4
|
12.9
|
12.1
|
1.6
|
BS17DD012
|
85.0
|
-53.7
|
123.0
|
125.0
|
2.0
|
2.0
|
5.2
|
BS17DD012
|
81.3
|
-58.7
|
273.0
|
276.0
|
3.0
|
3.0
|
2.6
|
BS17DD014A
|
92.8
|
-68.5
|
77.4
|
81.4
|
4.0
|
3.8
|
2.2
|
BS17DD014A
|
91.9
|
-69.9
|
158.0
|
164.0
|
6.0
|
5.7
|
4.1
|
BS17DD014A
|
Including
|
-69.9
|
160.0
|
161.0
|
1.0
|
1.0
|
18.2
|
BS17DD014A
|
92.0
|
-70.4
|
187.0
|
192.0
|
5.0
|
4.7
|
4.1
|
242
FW
|
24217DD006
|
324.2
|
-65.9
|
245.0
|
247.0
|
2.0
|
1.9
|
4.7
|
24217DD006
|
322.2
|
-64.0
|
488.0
|
495.0
|
7.0
|
6.8
|
8.2
|
24217DD006
|
322.1
|
-63.8
|
510.0
|
512.0
|
2.0
|
1.9
|
3.5
|
24217DD007B
|
319.0
|
-64.2
|
203.0
|
218.0
|
15.0
|
14.5
|
1.8
|
24217DD008
|
325.7
|
-60.4
|
181.5
|
198.5
|
17.0
|
16.7
|
3.3
|
24217DD008
|
Including
|
-60.4
|
192.0
|
193.5
|
1.5
|
1.5
|
11.1
|
Cautionary note regarding forward-looking information
Some statements contained in this news release are
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995 and other applicable
securities laws. Such statements include: the ability to increase
Wassa Underground's near term and longer term production; the
ability to increase Wassa Underground's life of mine and Mineral
Resources and Mineral Reserves; the timing of further drilling
results from Wassa Underground; the potential to add further stopes
to Wassa Underground in the future; the potential of 242 FW to
supply additional ore to the Wassa processing plant and increase
production; the true width of mineralization to the south of the B
Shoot and 2018 gold production and cash operating costs. Investors
are cautioned that forward-looking statements are inherently
uncertain and involve risks and uncertainties. Factors that could
cause actual results to differ materially include timing of and
unexpected events during exploration; variations in ore grade;
variations in relative amounts of refractory, non-refractory and
transition ores; technical or permitting issues; fluctuations in
gold price and costs; availability of capital and/or external
financing on acceptable terms; changes in U.S. and Canadian
securities markets; and general economic conditions. There can be
no assurance that future developments affecting the Company will be
those anticipated by management. Please refer to the discussion of
these risks and other factors in the Company's Annual Information
Form for the year ended December 31, 2016 and other
filings of the Company with the United States Securities and
Exchange Commission and the applicable Canadian securities
regulatory authorities. The forecasts contained in this press
release constitute management's current estimates, as of the date
of this press release, with respect to the matters covered thereby.
We expect that these estimates will change as new information is
received. While we may elect to update these estimates at any time,
we do not undertake to update any estimate at any particular time
or in response to any particular event.
Technical Information
The technical contents of this press release have been reviewed
and approved by S. Mitchel Wasel, BSc Geology, a Qualified Person
pursuant to National Instrument 43-101. Mr. Wasel is Vice President
of Exploration for Golden Star and
an active member and Registered Chartered Professional of
the Australasian Institute of Mining and Metallurgy.
The results for Wassa Underground stated herein are based on the
analysis of saw-split HQ/NQ diamond half core or a three kilogram
single stage riffle split of a nominal 25 to 30 kg Reverse
Circulation chip sample which has been sampled over nominal one
meter intervals (adjusted where necessary for mineralized
structures). Sample preparation and analyses have been carried out
at SGS or Intertek Laboratories in Tarkwa, which are
independent from Golden Star, using
a 1,000 gram slurry of sample and tap water which is prepared and
subjected to an accelerated cyanide leach (LEACHWELL). The sample
is then rolled for twelve hours before being allowed to settle. An
aliquot of solution is then taken, gold extracted into Di-iso Butyl
Keytone (DiBK), and determined by flame Atomic Absorption
Spectrophotometry (AAS). Detection Limit is 0.01 ppm.
All analytical work is subject to a systematic and rigorous
Quality Assurance-Quality Control (QA-QC). At least 5% of samples
are certified standards and the accuracy of the analysis is
confirmed to be acceptable from comparison of the recommended and
actual "standards" results. The remaining half core is stored on
site for future inspection and detailed logging, to provide
valuable information on mineralogy, structure, alteration patterns
and the controls on gold mineralization.
SOURCE Golden Star Resources Ltd.