Viking Ashanti (ASX: VKA) has extended the gold mineralisation by a further 700 metres along strike at the Akoase East deposit in southern Ghana in a recently completed drilling program.
This paves the way for a potentially significant resource upgrade with infill drilling.
Drilling targeted the down dip and along strike extensions of mineralisation intersected in previous early 2012 drilling at the Alimac prospect, immediately to the northeast and along trend from the Akoase East deposit.
The extension was confirmed with the results of the final six holes, which were part of a 10-hole, 756 metre reverse circulation and 959 metre diamond core drilling program.
All holes intersected multiple zones of mineralization, with better intersections including 17 metres at 1.15 grams per tonne (g/t) gold, 14 metres at 1.49g/t gold, 4 metres at 1.45g/t gold, 6 metres at 2.03g/t gold, 4 metres at 2.58g/t gold, and 12 metres at 1.21g/t gold.
All intersections are less than 140 metres vertically below surface.
Peter McMickan, managing director, commented: “The two drilling campaigns conducted at the Alimac prospect in April-May and October-November this year have successfully extended the Akoase East mineralisation for a further 700 metres immediately northeast of the current 700,000 ounce gold resource.
“We are now very confident that, with infill drilling, a significant increase in the Akoase East resource can be achieved.”
Multi-million ounce mine
Viking Ashanti is targeting a plus-1 million ounce gold resource at Akoase, which is located close to major mining projects including Newmont Mining’s 8.7 million ounce Akyem deposit and the Kwabeng gold mine.
Ghana produced 3 million ounces of gold in 2011, with gold production increasing.
Akoase has a resource of 18 million tonnes at 1.2g/t for 704,000 ounces of contained gold, contained at Akoase East.
The ore is free milling which should provide for recoveries of 85% to 95%.
At Akoase East, drilling has been carried out over about 3.5 kilometres of strike, with mineralisation outcropping at surface.
Earlier drilling has returned near surface higher grade intercepts of 31 metres at 7.84g/t gold, including 16 metres at 10.82g/t gold, transforming the potential to expand the resource.
The resource is open at depth and to the northeast and has only been drilled to around 120 metres below surface.
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