Significant intercepts include 10.4 m grading 11.9 g/t Au and
16.2 m grading 6.7 g/t Au
TORONTO, Dec. 17, 2018 /CNW/ - Golden Star Resources Ltd.
(NYSE American: GSS; TSX: GSC; GSE: GSR) ("Golden Star" or the
"Company") is pleased to report further step out and infill
drilling results from its Wassa Underground Gold Mine ("Wassa
Underground") in Ghana,
demonstrating the extension and robustness of the deposit.
HIGHLIGHTS1
- Positive assay results received from five new infill and
step-out diamond drill ("DD") holes at Wassa Underground
- Step out drilling confirms gold mineralization remains open at
least 200 metres ("m") to the South of existing Inferred Mineral
Resources
- Infill drilling confirms continuity of width and grade of
mineralized areas
- New foot wall zone of gold mineralization has been
identified
- Significant intercepts include:
-
- 10.4 m grading 11.9 g/t ("grams
per tonne") of gold ("Au") from 774.5
m, including 6.4 m grading
16.2 g/t Au in hole BS18DD393M
- 16.2 m grading 6.7 g/t Au from
944.0 m in hole BS18DD392D1 (drilled
depth from wedge)
- 15.6 m grading 4.0 g/t Au from
256.7 m including 5.2 m grading 6.7 g/t Au in hole BS18DD391D2
(drilled depths from wedge)
- These results are expected to further increase Wassa's Inferred
Mineral Resources and upgrade a portion of them to Indicated
Mineral Resources
- Conceptual mining studies are advancing in conjunction with the
new drilling in preparation for a Preliminary Economic Assessment
in 2019
Notes
|
|
1.
|
All widths quoted in
this press release are estimated true widths
|
Sam Coetzer, President and
Chief Executive Officer of Golden
Star, commented:
"I am encouraged by the latest positive results from the
Wassa Underground drilling program. Our objective is to 'fill
the mill' through defining additional Mineral Resources and
utilizing the Wassa processing plant's excess capacity and these
latest results suggest that we are on track to achieve this
goal. The step out drilling results continue to confirm the
extension of the Wassa Underground deposit to the south and the
deposit remains open down plunge, which suggests further
exploration upside potential. The infill drilling results also
confirm the previously recorded grades and widths of the deposit
and we expect to upgrade a portion of Wassa's Inferred Mineral
Resources into the Indicated category. With our larger exploration
budget as a result of the funds received from the investment by our
new strategic investor, we are focused on demonstrating the
potential of this exceptional deposit and delivering compelling
value for our shareholders."
WASSA UNDERGROUND DRILLING RESULTS
Golden Star has received assay
results for five new DD holes at Wassa Underground, comprising
approximately 4,800 m of drilling
from surface. The two step out holes further tested the
extents of the F Shoot mineralized corridor at depth, both to the
North and South. The three infill holes targeted the B
Shoot's Inferred Mineral Resources with the objective of converting
them into the Indicated Mineral Resource category.
Further sections showing the location of the drill holes are
available at: http://www.gsr.com/operations/wassa/wassa-main
Wassa Underground step out drilling
results1
The results of five holes on the 18700 N step out fence have now
been received, including the two new holes reported today.
Two additional holes are underway and one final hole is
planned.
The two new holes, BS18DD391D2 and BS18DD392D1, are both
'daughter' holes drilled on the 18700 N drill fence, approximately
200 m from the extent of Wassa
Underground's current Inferred Mineral Resources. The mother
holes, BS18DD391M and BS18DD392M, were drilled from surface and a
wedge was established at 721 m
(approximately 600 m from surface)
and 838 m (approximately 750 m from surface) respectively. The daughter
holes were then drilled at various angles from the mother hole and
their objective was to test above and below the high grade
mineralization intersected in hole BSDD391D1 (64.3 m grading 7.4 g/t Au from 577.0 m and 49.7 m
grading 5.5 g/t from 792.0
m)2. The results received to date confirm
the extension of the deposit down plunge to the south.
Notes
|
|
1.
|
All widths quoted in
this press release are estimated true widths.
|
2.
|
See press release
entitled, 'Golden Star Extends Wassa Underground Deposit A Further
200 Metres To The South', dated September 20, 2018
|
Wassa Underground infill drilling results
The results of three new infill holes are also reported today,
which had the objective of converting Inferred Mineral Resources in
the B Shoot zone to the Indicated Mineral Resource category.
Two of the six planned holes on drill fence 19450 N, which is
located 50 m south of the current
Mineral Reserves, have been completed. These holes have the
objective of converting Inferred Mineral Resources to the Indicated
category by reducing the drill spacing to 50
m x 50 m.
All of the infill drilling conducted in the 2018 drilling
program to date has confirmed the widths and grades of the main B
Shoot gold mineralization, in addition to extending this zone up
and down dip. This drilling has also defined hanging wall and
foot wall zones of gold mineralization, which are of sufficient
thickness and grade to be amenable to underground mining.
Golden Star intends to include these
holes in the 2019 Mineral Resource model update for Wassa
Underground and it is expected to deliver an increase in all
categories of Mineral Resources in this area.
Significant intercepts
The full set of drilling results released today is listed in
Appendix A, including the significant intercepts set out
below.
HOLE
ID
|
Azimuth
(°)
|
Dip
(°)
|
From
(m)
|
To
(m)
|
Drilled
Width
(m)
|
Estimated
True
Width (m)
|
Grade
Au
(g/t)
|
Drilling
Objective
|
Target
|
BS18DD393M
|
92.7
|
-75.1
|
374.1
|
422.2
|
48.1
|
38.9
|
2.9
|
Infill
|
B Shoot
|
Including
|
91.6
|
-74.8
|
397.5
|
403.5
|
6.0
|
4.9
|
5.2
|
Infill
|
B Shoot
|
Including
|
91.0
|
-74.9
|
414.0
|
422.2
|
8.2
|
6.6
|
4.6
|
Infill
|
B Shoot
|
BS18DD393M
|
94.7
|
-75.3
|
620.0
|
637.5
|
17.5
|
14.1
|
3.6
|
Infill
|
B Shoot
|
BS18DD393M
|
93.7
|
-75.7
|
648.9
|
663.9
|
15.0
|
12.0
|
3.8
|
Infill
|
B Shoot
|
BS18DD393M
|
90.4
|
-75.8
|
774.5
|
787.5
|
13.0
|
10.4
|
11.9
|
Infill
|
B Shoot
|
Including
|
90.3
|
-75.7
|
776.5
|
784.5
|
8.0
|
6.4
|
16.2
|
Infill
|
B Shoot
|
BS18DD392D1
|
81.6
|
-49.6
|
764.0
|
771.0
|
7.0
|
4.9
|
4.0
|
Step Out
|
F Shoot
|
BS18DD392D1
|
81.6
|
-49.6
|
784.0
|
791.0
|
7.0
|
4.9
|
6.6
|
Step Out
|
F Shoot
|
BS18DD392D1
|
84.7
|
-49.2
|
944.0
|
967.0
|
23.0
|
16.2
|
6.7
|
Step Out
|
F Shoot
|
BS18DD391D2
|
86.4
|
-55.4
|
256.7
|
281.7
|
25.0
|
15.6
|
4.0
|
Step Out
|
F Shoot
|
Including
|
86.4
|
-55.4
|
267.4
|
275.7
|
8.3
|
5.2
|
6.7
|
Step Out
|
F Shoot
|
BS18DD391D2
|
86.7
|
-55.1
|
286.7
|
295.7
|
9.0
|
5.7
|
5.8
|
Step Out
|
F Shoot
|
BS18DD391D2
|
86.7
|
-54.1
|
315.0
|
325.0
|
10.0
|
6.4
|
4.3
|
Step Out
|
F Shoot
|
BS18DD391D2
|
88.1
|
-52.1
|
430.0
|
438.0
|
8.0
|
5.3
|
4.6
|
Step Out
|
F Shoot
|
BS18DD002
|
78.2
|
-67.4
|
447.0
|
455.0
|
8.0
|
5.6
|
4.4
|
Infill
|
B Shoot
|
BS18DD002
|
75.4
|
-66.3
|
587.0
|
603.8
|
16.8
|
12.0
|
6.7
|
Infill
|
B Shoot
|
Including
|
75.4
|
-66.3
|
592.4
|
599.8
|
7.4
|
5.3
|
11.3
|
Infill
|
B Shoot
|
BS18DD001
|
90.1
|
-71.9
|
314.0
|
322.0
|
8.0
|
5.2
|
3.6
|
Infill
|
B Shoot
|
BS18DD001
|
84.0
|
-72.6
|
427.1
|
431.3
|
4.2
|
2.7
|
4.3
|
Infill
|
B Shoot
|
BS18DD001
|
83.2
|
-72.2
|
579.2
|
584.0
|
4.8
|
3.1
|
12.6
|
Infill
|
B Shoot
|
BS18DD001
|
84.4
|
-73.2
|
589.0
|
605.0
|
16.0
|
10.0
|
3.3
|
Infill
|
B Shoot
|
BS18DD001
|
81.4
|
-73.2
|
621.4
|
634.4
|
13.0
|
8.1
|
4.8
|
Infill
|
B Shoot
|
BS18DD001
|
80.4
|
-73.2
|
646.2
|
669.0
|
22.8
|
14.3
|
3.6
|
Infill
|
B Shoot
|
BS18DD001
|
80.4
|
-73.2
|
674.0
|
679.0
|
5.0
|
3.1
|
5.1
|
Infill
|
B Shoot
|
BS18DD001
|
80.4
|
-73.2
|
690.0
|
693.0
|
3.0
|
1.9
|
4.1
|
Infill
|
B Shoot
|
Wassa Underground's current drilling program and next
steps
There are currently five drill rigs in operation at Wassa
Underground, two rigs conducting step out drilling (testing the
extents of the F Shoot mineralized zones on Section 18700 N) and
three rigs conducting infill drilling (for the purpose of
converting B Shoot Inferred Mineral Resources to Indicated Mineral
Resources). Golden Star
intends to release further drilling results from Wassa Underground
in the first quarter of 2019.
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
Wassa Underground step out and infill drilling
results
HOLE
ID
|
Azimuth
(°)
|
Dip
(°)
|
From
(m)
|
To
(m)
|
Drilled
Width
(m)
|
~True
Width
(m)
|
Grade
Au
(g/t)
|
Drilling
Objective
|
Target
|
BS18DD001
|
90.1
|
-71.9
|
314.0
|
322.0
|
8.0
|
5.2
|
3.6
|
Infill
|
B Shoot
|
BS18DD001
|
84.0
|
-72.6
|
427.1
|
431.3
|
4.2
|
2.7
|
4.3
|
Infill
|
B Shoot
|
BS18DD001
|
83.2
|
-72.2
|
579.2
|
584.0
|
4.8
|
3.1
|
12.6
|
Infill
|
B Shoot
|
BS18DD001
|
84.4
|
-73.2
|
589.0
|
605.0
|
16.0
|
10.0
|
3.3
|
Infill
|
B Shoot
|
Including
|
84.4
|
-73.2
|
593.0
|
597.2
|
4.2
|
2.6
|
7.8
|
Infill
|
B Shoot
|
BS18DD001
|
81.4
|
-73.2
|
621.4
|
634.4
|
13.0
|
8.1
|
4.8
|
Infill
|
B Shoot
|
BS18DD001
|
80.4
|
-73.2
|
646.2
|
669.0
|
22.8
|
14.3
|
3.6
|
Infill
|
B Shoot
|
BS18DD001
|
80.4
|
-73.2
|
674.0
|
679.0
|
5.0
|
3.1
|
5.1
|
Infill
|
B Shoot
|
BS18DD001
|
80.4
|
-73.2
|
690.0
|
693.0
|
3.0
|
1.9
|
4.1
|
Infill
|
B Shoot
|
BS18DD002
|
78.1
|
-66.1
|
413.2
|
425.2
|
12.0
|
8.6
|
2.9
|
Infill
|
B Shoot
|
Including
|
78.1
|
-66.1
|
421.2
|
425.2
|
4.0
|
2.9
|
5.1
|
Infill
|
B Shoot
|
BS18DD002
|
78.7
|
-66.3
|
429.2
|
434.2
|
5.0
|
3.6
|
5.2
|
Infill
|
B Shoot
|
BS18DD002
|
78.2
|
-67.4
|
447.0
|
455.0
|
8.0
|
5.6
|
4.4
|
Infill
|
B Shoot
|
BS18DD002
|
75.4
|
-66.3
|
587.0
|
603.8
|
16.8
|
12.0
|
6.7
|
Infill
|
B Shoot
|
Including
|
75.4
|
-66.3
|
592.4
|
599.8
|
7.4
|
5.3
|
11.3
|
Infill
|
B Shoot
|
BS18DD391D2
|
86.2
|
-55.5
|
231.0
|
240.0
|
9.0
|
5.6
|
2.6
|
Step Out
|
F Shoot
|
BS18DD391D2
|
86.4
|
-55.4
|
256.7
|
281.7
|
25.0
|
15.6
|
4.0
|
Step Out
|
F Shoot
|
Including
|
86.4
|
-55.4
|
267.4
|
275.7
|
8.3
|
5.2
|
6.7
|
Step Out
|
F Shoot
|
BS18DD391D2
|
86.7
|
-55.1
|
286.7
|
295.7
|
9.0
|
5.7
|
5.8
|
Step Out
|
F Shoot
|
BS18DD391D2
|
86.9
|
-54.7
|
302.0
|
308.0
|
6.0
|
3.8
|
2.5
|
Step Out
|
F Shoot
|
BS18DD391D2
|
86.7
|
-54.1
|
315.0
|
325.0
|
10.0
|
6.4
|
4.3
|
Step Out
|
F Shoot
|
BS18DD391D2
|
88.1
|
-52.1
|
430.0
|
438.0
|
8.0
|
5.3
|
4.6
|
Step Out
|
F Shoot
|
BS18DD391D2
|
88.2
|
-51.2
|
492.0
|
516.5
|
24.5
|
16.6
|
1.7
|
Step Out
|
F Shoot
|
BS18DD391D2
|
87.1
|
-50
|
535.0
|
553.0
|
18.0
|
12.5
|
1.8
|
Step Out
|
F Shoot
|
Including
|
87.1
|
-50
|
546.0
|
550.0
|
4.0
|
2.8
|
3.3
|
Step Out
|
F Shoot
|
Including
|
87.1
|
-50
|
681.0
|
685.0
|
4.0
|
2.8
|
3.1
|
Step Out
|
F Shoot
|
BS18DD391D2
|
86.8
|
-50.2
|
681.0
|
694.7
|
13.7
|
9.5
|
1.6
|
Step Out
|
F Shoot
|
BS18DD392D1
|
82.8
|
-49.6
|
755.0
|
760.0
|
5.0
|
3.5
|
1.2
|
Step Out
|
F Shoot
|
BS18DD392D1
|
81.6
|
-49.6
|
764.0
|
771.0
|
7.0
|
4.9
|
4.0
|
Step Out
|
F Shoot
|
BS18DD392D1
|
81.6
|
-49.6
|
784.0
|
791.0
|
7.0
|
4.9
|
6.6
|
Step Out
|
F Shoot
|
BS18DD392D1
|
81.5
|
-49.3
|
819.0
|
823.0
|
4.0
|
2.8
|
4.6
|
Step Out
|
F Shoot
|
BS18DD392D1
|
84.7
|
-49.2
|
944
|
967
|
23
|
16.2
|
6.7
|
Step Out
|
F Shoot
|
BS18DD392D1
|
81.2
|
-49.3
|
1041
|
1049
|
8
|
5.6
|
3.0
|
Step Out
|
F Shoot
|
BS18DD392D1
|
80.7
|
-49.5
|
1072
|
1080
|
8
|
5.6
|
2.3
|
Step Out
|
F Shoot
|
BS18DD393M
|
92.7
|
-75.1
|
374.1
|
422.2
|
48.1
|
38.9
|
2.9
|
Infill
|
B Shoot
|
Including
|
91.6
|
-74.8
|
397.5
|
403.5
|
6.0
|
4.9
|
5.2
|
Infill
|
B Shoot
|
Including
|
91.0
|
-74.9
|
414.0
|
422.2
|
8.2
|
6.6
|
4.6
|
Infill
|
B Shoot
|
BS18DD393M
|
89.6
|
-75.1
|
443.7
|
459.7
|
16.0
|
12.9
|
2.6
|
Infill
|
B Shoot
|
BS18DD393M
|
91.9
|
-75.7
|
594.0
|
607.1
|
13.1
|
10.5
|
2.3
|
Infill
|
B Shoot
|
BS18DD393M
|
94.7
|
-75.3
|
620.0
|
637.5
|
17.5
|
14.1
|
3.6
|
Infill
|
B Shoot
|
BS18DD393M
|
93.7
|
-75.7
|
648.9
|
663.9
|
15.0
|
12.0
|
3.8
|
Infill
|
B Shoot
|
BS18DD393M
|
91.9
|
-76.2
|
667.9
|
677.9
|
10.0
|
8.0
|
2.2
|
Infill
|
B Shoot
|
BS18DD393M
|
93.2
|
-76.1
|
685.3
|
691.3
|
6.0
|
4.8
|
2.3
|
Infill
|
B Shoot
|
BS18DD393M
|
92.0
|
-76.1
|
716.0
|
721.0
|
5.0
|
4.0
|
3.3
|
Infill
|
B Shoot
|
BS18DD393M
|
90.4
|
-75.8
|
774.5
|
787.5
|
13.0
|
10.4
|
11.9
|
Infill
|
B Shoot
|
Including
|
90.3
|
-75.7
|
776.5
|
784.5
|
8.0
|
6.4
|
16.2
|
Infill
|
B Shoot
|
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 expected
increase of Wassa's Inferred Mineral Resources; the expected
upgrade of a portion of Wassa's Inferred Mineral Resources into
Indicated Mineral Resources; the planning of a final step-out
drilling hole; the intention to include certain drilling holes from
the in the main B Shoot gold mineralization in the 2019 Mineral
Resource model update for Wassa Underground and the expectation to
deliver an increase in all categories of Mineral Resources in such
area; the upside potential on the size of the Wassa deposit; the
intention to release further drilling results from Wassa
Underground in the first quarter of 2019; 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
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.