Step out results include 64.3 m grading 7.4 g/t Au and
49.7 m grading 5.5 g/t Au
TORONTO, Sept. 20, 2018 /CNW/ - Golden Star Resources Ltd.
(NYSE American: GSS; TSX: GSC; GSE: GSR) ("Golden Star" or the
"Company") is pleased to announce that it has intersected
significant gold mineralization 200 metres ("m") down plunge to the
south of the Inferred Mineral Resource at the Wassa Underground
Gold Mine ("Wassa Underground") in Ghana, demonstrating the extension of the
deposit.
HIGHLIGHTS
- Assay results received for 8 new diamond drill ("DD") holes at
Wassa Underground, comprising approximately 8,725 m of drilling from surface1
- These results are expected to increase Wassa's Inferred Mineral
Resources
- Two of these holes were conducted on a step out fence on
section 18700N, confirming that high grade gold mineralization
extends approximately 200 m down
plunge to the south of the deposit's Inferred Mineral
Resources
- Significant intercepts were as follows2:
-
- 64.3 m grading 7.4 grams per
tonne ("g/t") of gold ("Au") from 577.0m and 49.7 m
grading 5.5 g/t Au from 792.0 m in
hole BS18DD391D1 (drilled depths from wedge)
- 17.5 m grading 10.0 grams per
tonne g/t Au from 1369.70 m in hole
BS18DD391M
- Five of these holes tested other extensions of Wassa's Inferred
Mineral Resource, confirming that the deposit extends approximately
95 m down dip and 200 m up plunge to the north of the existing
Inferred Mineral Resource
- These latest results suggest that extents of the F Shoot zone
have not been fully tested and the deposit remains open up and down
plunge and dip
- Significant intercepts were as follows2:
-
- 12.9 m grading 6.8 g/t Au from
298.0 m in hole BS18DD308D2
- 66.8 m grading 5.2 g/t from
675.0 m in hole BS18DD388D2
- 40.7 m grading 4.8 g/t from
766.0 m in also in hole
BS18DD388D2
Sam Coetzer, President and
Chief Executive Officer of Golden
Star, commented:
"Earlier this year we announced that we had doubled Wassa's
Inferred Mineral Resources to 5.2 million ounces of
gold3 and these latest results demonstrate that the
deposit is larger still. The deposit remains open down plunge
and up and down dip so we believe that significant further upside
potential exists. With the strategic investment from La
Mancha, we plan to accelerate drilling so that we can gain a more
thorough understanding of the magnitude of the deposit. Our
exploration team now has a robust understanding of the deposit's
geology and these results continue to confirm the consistent nature
of the gold mineralization. Wassa Underground has already
proven itself as a profitable operation and we look forward to
releasing an updated Mineral Resource estimate in February 2019 to further demonstrate its larger
scale, longer term potential."
Notes
|
1. The results of 7
of the 8 holes are detailed in this press release. The eighth hole
was terminated early due to down hole drilling issues
|
2. All widths quoted
in this press release are estimated true widths
|
3. 44.9 million
tonnes at an average grade of 3.57 g/t Au for 5.2 million ounces of
gold
|
WASSA UNDERGROUND DRILLING RESULTS
Notes
|
1. All widths quoted
in this diagram are true widths
|
2. The estimated true
width of this intercept has been updated based on the latest
drilling results
|
Further sections showing the location of the drill holes are
available at: http://www.gsr.com/operations/wassa/wassa-main
Latest drilling results1
Three holes were drilled on the 18700N 200 m step out drill fence and five holes were
drilled to test other extensions of the F Shoot at depth from the
18900N, 19100N and 19300N drill fences.
18700N
Results from two holes on the 18700N 200
m step out drill fence have been received to date,
with one additional hole initiated but terminated early due to down
hole drilling issues. The two successful holes, BS18DD391M (a
mother hole) and BS18DD391D1 (the first daughter hole), confirm
that high grade gold mineralization extends over 200 m down plunge to the south of the existing
Inferred Mineral Resources. These results are expected to
deliver an increase in Wassa's Inferred Mineral Resources and the
next update is expected in February
2019.
Both of these holes intersected what has been interpreted to be
two limbs of the folded F Shoot horizon. The upper and lower
fold limbs were intersected at approximately 1,000 and 1,300 m vertical depth from surface,
respectively. The two limbs were intersected in
BS18DD391D1.
The gold mineralization observed in these latest two step out
holes is similar to what is seen in areas of the Wassa Underground
deposit that is currently being mined. It is associated with
quartz carbonate veins with pyrite and abundant free gold.
Some individual assays from 1 metre composite samples of these
latest two drill holes reported very high grade results, exceeding
an ounce of gold per tonne.
18900N
Two holes drilled from the 18900N drill fence were targeting the
F Shoot zone at depth and the results from these holes are expected
to increase Wassa's Inferred Mineral Resource estimate.
The first hole, BS18DD388D1, targeted an area approximately
85 m up dip of an intercept reported
in September 2017. It confirmed
Golden Star's interpretation of the
gold mineralization used in the April
2018 Inferred Mineral Resource update.3
The second hole, BS18DD388D2, intersected an upper and lower
zone of gold mineralization both interpreted as F Shoot. The
upper zone confirmed widths and grades previously intersected in
BS18DD388M (58.5 m grading 4.8 g/t Au
from 1,007.0m)3, with
intercepts including 14.7 m grading
4.4 g/t Au from 281.5m and
7.2 m grading 4.6 g/t Au from
317.5 m.
The lower zone of gold mineralization was wider than previously
interpreted in the April 2018
Inferred Mineral Resource update3. This hole
tested the high grade zone intersected in BS17DD385D3 (94.0 m grading 4.4 g/t Au from 1,305.7 m) approximately 95 m down dip, with three significant zones being
returned: 27.1m grading 4.7 g/t Au
from 631.0m, 66.8 m grading 5.2 g/t Au from 675.0 m and 40.7m
at 4.8 g/t Au from 766.0 m.
The updated correlation between BS18DD385D3 and the new hole
BS18DD388D2 has resulted in a shallower projected dip of the gold
mineralization in this area of the deposit, which in turn has
increased the approximate true thickness of BS18DD385D3 from
94.0 m to 134.0 m. This hole is expected to have a
positive impact on the next Mineral Resource model update.
19100N
One hole was drilled on the 19100N drill fence, BS18DD390M (a
mother hole). It was targeting an area approximately 20 to
25 m down dip of a high grade
intercept reported in July 2014 of
70.5 m grading 5.9 g/t Au from
742.4 m.4 This
hole demonstrates the variability of gold distribution at Wassa,
which was already a known variable of this deposit.
Another hole, BS18DD390D1 (a daughter hole), is planned to test
F Shoot further at depth.
19300N
Two holes were drilled on the 19300N drill fence, BS18DD308D1
(the first daughter hole) and BS18DD308D2 (the second daughter
hole). The results of BS18DD308M (the mother hole) were
reported in February
2018.5
No significant intercepts were received from the first daughter
hole however the second daughter hole intersected what has been
interpreted as the F Shoot. Importantly, this demonstrates
that the F Shoot extends 200 m up
plunge to the north of Wassa's existing Inferred Mineral
Resources. The mineralized zone in this area is wider and
higher grade than the intercept received in the up dip hole,
suggesting that the F Shoot is widening at depth and remains open
down dip. Golden Star expects
that additional drilling down dip will deliver an increase in
Wassa's Inferred Mineral Resources.
Notes
|
1.
|
All widths quoted in
this press release are estimated true widths
|
2.
|
See press release
entitled, 'Golden Star extends high grade B Shoot zone through step
out drilling at Wassa Underground Gold Mine', dated September 19,
2017
|
3.
|
See press release
entitled, 'Golden Star Doubles Inferred Mineral Resources at Wassa
Underground Gold Mine', dated April 12, 2018
|
4.
|
See press release
entitled, 'Golden Star has continued exploration drilling success
at Wassa', dated July 30, 2014
|
5.
|
See press release
entitled, 'Golden Star reports further high grade drilling results
from Wassa Underground', dated February 14, 2018
|
Significant intercepts
The full set of drilling results released today is listed in
Appendix A, including the significant intercepts set out
below.
Significant intercepts from Wassa Underground step out
drilling and Inferred Mineral Resource extension drilling
HOLE
ID
|
Azimuth
(°)
|
Dip
(°)
|
From
(m)
|
To
(m)
|
Drilled
Width
(m)
|
~True
Width
(m)
|
Grade
(g/t
Au)
|
BS18DD308D2
BS18DD308D2
|
79
56
|
-75.1
-73.5
|
298.0
706.0
|
319.0
735.0
|
21.0
29.0
|
12.9
18.4
|
6.8
6.3
|
BS18DD388D1
BS18DD388D1
|
99.1
102.6
|
-53.5
-51.5
|
570.7
733.0
|
579.9
742.0
|
9.2
9.0
|
8.8
8.7
|
7.2
7.3
|
BS18DD388D2
BS18DD388D2
BS18DD388D2
BS18DD388D2
BS18DD388D2
BS18DD388D2
|
83
82.4
78.6
67
63.7
63.2
|
-72.4
-72.5
-72.3
-70.8
-69.7
-69
|
281.5
317.5
412.2
631.0
675.0
766.0
|
300.5
326.8
422.8
660.0
746.0
809.0
|
19.0
9.3
10.6
29.0
71.0
43.0
|
14.7
7.2
8.2
27.1
66.8
40.7
|
4.4
4.6
8.7
4.7
5.2
4.8
|
BS18DD391M
Including
BS18DD391M
BS18DD391M
|
88.3
84.5
84.3
85.8
|
-62
-57.9
-55.6
-55.5
|
1369.7
1372.7
1494
1516
|
1388
1382
1500
1521
|
18
9
6.2
5
|
17.5
8.9
6.2
5.0
|
10.0
18.7
5.9
10.9
|
BS18DD391D1
BS18DD391D1
Including
Including
Including
BS18DD391D1
Including
Including
Including
|
85.5
85.6
85.7
86.4
85.1
81.6
81
81
81
|
-65.8
-65.2
-65
-64.6
-64.6
-64.7
-64
-64
-64
|
546
577
584
614.6
638
792
802
814
827
|
555
644
602
627
644
843.6
810
823
834
|
9
67
18
12.4
6
51.6
8
9
7
|
8.6
64.3
17.3
11.9
5.8
49.7
7.7
8.7
6.8
|
14.7
7.4
9.3
13.1
19.5
5.5
11.8
12.4
6.4
|
Wassa Underground's current drilling program and next
steps
Currently two DD rigs are drilling on the 18700N drill
pad. These rigs are targeting areas 75
m above the mother hole reported today and 350 m below the first daughter hole. A
third DD rig has been mobilized to site and will conduct further
drilling to test the extensions of the F Shoot zone at depth,
within the vicinity of the current Inferred Mineral Resource.
One DD rig has also commenced drilling at the Father Brown
satellite deposit and a second DD rig is expected to begin in the
coming days.
Upon receipt of funds from the La Mancha transaction, the
drilling of Wassa's Inferred Mineral Resources along the B and F
Shoot trends is expected to be accelerated. The drilling of
the B Shoot will focus on converting Inferred Mineral Resources to
higher confidence Indicated Mineral Resources. Whilst
drilling of the F Shoot will continue to target the expansion of
Wassa's Inferred Mineral Resources to the north and south along the
high grade plunge.
Work is underway on a Preliminary Economic Assessment ("PEA")
for the southern portion of the Wassa deposit. Golden Star had intended to release the PEA
during the second half of 2018, but due to the latest positive
drilling results received and the plans to accelerate drilling
going forwards, the Company has decided to postpone it. This
will allow further drilling to be completed with the intention of
gaining a more thorough understanding of the scale of the deposit
and the opportunity it presents.
All monetary amounts refer to United States dollars
unless otherwise indicated.
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
225,000-235,000 ounces at a cash operating cost per ounce of
$790-830. 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 from the Wassa Underground drilling from
surface – step out drilling and extension drilling of Inferred
Mineral Resource
HOLE
ID
|
Azimuth
(°)
|
Dip
(°)
|
From
(m)
|
To
(m)
|
Drilled
Width (m)
|
~True
Width
(m)
|
Grade
Au (g/t)
|
BS18DD308D1
BS18DD308D1
BS18DD308D1
BS18DD308D1
BS18DD308D1
BS18DD308D1
BS18DD308D1
|
98.8
95.5
94.7
94
91.4
88.5
80.2
|
-62.6
-62.7
-63
-63.3
-64.6
-63.9
-63.2
|
77.0
224.0
247.0
268.6
385.0
446.0
639.5
|
79.0
231.0
251.0
269.8
388.0
449.0
643.6
|
2.0
7.0
4.0
1.2
3.0
3.0
4.1
|
1.5
5.4
3.1
0.9
2.2
2.3
3.1
|
3.7
1.8
1.7
5.4
2.0
1.9
2.0
|
BS18DD308D2
BS18DD308D2
BS18DD308D2
BS18DD308D2
BS18DD308D2
BS18DD308D2
BS18DD308D2
|
86.2
85.9
85.1
79
73.4
64
56
|
-73.9
-73.9
-74
-75.1
-74.6
-74.2
-73.5
|
121.0
167.0
205.5
298.0
472.0
583.0
706.0
|
125.0
170.0
216.5
319.0
481.0
585.0
735.0
|
4.0
3.0
11.0
21.0
9.0
2.0
29.0
|
2.5
1.9
6.9
12.9
5.6
1.3
18.4
|
1.3
2.4
2.8
6.8
2.2
2.9
6.3
|
BS18DD388D1
BS18DD388D1
BS18DD388D1
BS18DD388D1
BS18DD388D1
BS18DD388D1
BS18DD388D1
BS18DD388D1
BS18DD388D1
|
87.5
91
91.9
98.4
99.1
99.4
100.7
101.5
102.6
|
-60.8
-56.4
-55.9
-53.9
-53.5
-53.3
-52.2
-51.9
-51.5
|
240.0
386.0
398.0
559.0
570.7
587.0
674.0
692.7
733.0
|
243.0
389.0
401.2
562.0
579.9
593.0
677.0
695.7
742.0
|
3.0
3.0
3.2
3.0
9.2
6.0
3.0
3.0
9.0
|
2.7
2.8
3.0
2.9
8.8
5.7
2.9
2.9
8.7
|
3.4
3.0
4.2
3.3
7.2
4.1
13.3
6.4
7.3
|
BS18DD388D2
BS18DD388D2
BS18DD388D2
BS18DD388D2
BS18DD388D2
BS18DD388D2
BS18DD388D2
BS18DD388D2
BS18DD388D2
BS18DD388D2
|
83
83
82.4
81.4
78.6
78.6
66.8
67
63.7
63.2
|
-72.4
-72.3
-72.5
-72.5
-72.3
-72.3
-70.8
-70.8
-69.7
-69
|
281.5
307.5
317.5
338.3
401.4
412.2
602.8
631.0
675.0
766.0
|
300.5
313.5
326.8
343.8
405.0
422.8
617.6
660.0
746.0
809.0
|
19.0
6.0
9.3
5.5
3.6
10.6
14.8
29.0
71.0
43.0
|
14.7
4.6
7.2
4.2
2.8
8.2
13.8
27.1
66.8
40.7
|
4.4
2.1
4.6
4.9
5.0
8.7
2.9
4.7
5.2
4.8
|
BS18DD390M
BS18DD390M
BS18DD390M
BS18DD390M
BS18DD390M
|
107.4
106.3
106.8
106.1
106.1
|
-63.3
-63.3
-62.8
-62.2
-62.2
|
647.0
755.0
878.0
908.0
921.0
|
654.0
760.0
885.0
919.0
925.0
|
7.0
5.0
7.0
11.0
4.0
|
5.3
3.8
5.4
8.5
3.1
|
3.0
3.2
2.0
6.5
2.4
|
BS18DD391M
BS18DD391M
BS18DD391M
BS18DD391M
Including
BS18DD391M
BS18DD391M
BS18DD391M
|
88.3
88.5
88.2
88.3
84.5
84.3
85.8
85.1
|
-63
-62.6
-62.2
-62
-57.9
-55.6
-55.5
-54.7
|
1109
1136.6
1147.6
1369.7
1372.7
1494
1516
1569.5
|
1114
1141
1152
1388
1382
1500
1521
1577
|
5.0
4
4
18
9
6.2
5
7
|
4.9
3.9
3.9
17.5
8.9
6.2
5.0
7.0
|
2.2
3.1
1.2
10.0
18.7
5.9
10.9
2.9
|
BS18DD391D1
BS18DD391D1
BS18DD391D1
Including
Including
Including
BS18DD391D1
Including
Including
Including
|
81.2
85.5
85.6
85.7
86.4
85.1
81.6
81
81
81
|
-67.7
-65.8
-65.2
-65
-64.6
-64.6
-64.7
-64
-64
-64
|
495
546
577
584
614.6
638
792
802
814
827
|
517
555
644
602
627
644
843.6
810
823
834
|
22
9
67
18
12.4
6
51.6
8
9
7
|
20.8
8.6
64.3
17.3
11.9
5.8
49.7
7.7
8.7
6.8
|
2.7
14.7
7.4
9.3
13.1
19.5
5.5
11.8
12.4
6.4
|
BS18DD392M
|
No significant
intersections
|
Statements 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 "forward looking
information" within the meaning of Canadian securities laws.
Forward looking statements and information include but are not
limited to, statements and information regarding: the potential of
Wassa's Inferred Mineral Resources to increase through further
drilling; the acceleration of step out drilling of the B Shoot and
F Shoot upon receipt of the funds from La Mancha; upside potential
on the size of the Wassa deposit; the timing for the release of the
next Mineral Resource update; the conversion of Inferred Mineral
Resources into Indicated Mineral Resources; the timing of
commencement of work on the PEA and the Company's plans to
accelerate drilling; and production guidance and cash operating
cost guidance for 2018. Generally, forward-looking information
and statements can be identified by the use of forward-looking
terminology such as "plans", "expects", "is expected", "budget",
"scheduled", "estimates", "forecasts", "intends", "anticipates",
"believes" or variations of such words and phrases (including
negative or grammatical variations) or statements that certain
actions, events or results "may", "could", "would", "might" or
"will be taken", "occur" or "be achieved" or the negative
connotation thereof. Investors are cautioned that forward-looking
statements and information are inherently uncertain and involve
risks, assumptions and uncertainties that could cause actual facts
to differ materially. There can be no assurance that future
developments affecting the Company will be those anticipated by
management. Please refer to the discussion of these and other
factors in Management's Discussion and Analysis of financial
conditions and results of operations for the year ended
December 31, 2017. Additional
and/or updated factors will be included in our annual information
form for the year ended December 31,
2017 which is filed on SEDAR at www.sedar.com. 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 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,
verified 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.
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SOURCE Golden Star Resources Ltd.