Golden Star Resources (GSR) is to spend an estimated US$2.4 million on the Wassa Underground Gold Mine (“Wassa Underground”) in the Western Region as the mine has been given “primary focus” according to the gold producer’s exploration strategy for 2018.
The amount, for a planned drilling of 11,665m, represents 36 per cent of US$6.6 million budgeted for a total of 46,195m of drilling, forming the first phase of the 2018 exploration program.
The move is to gain a stronger understanding of the scale of the Wassa Underground deposit as the company plans to continue mineral resource expansion drilling totalling 22,980m at the Prestea Underground Gold Mine (“Prestea Underground”) at the cost of US$2.8 million.
The objective of the exploration strategy, according to the company, is to “investigate the potential to increase Golden Star’s high grade, low cost production profile and to extend the life of mine of the Wassa and Prestea complexes.”
GSR will also review five potential new underground targets with a planned drilling of 11,550m estimated at US$1.4 million as it transitions into an underground-focused gold miner.
President and Chief Executive Officer of Golden Star, Sam Coetzer, was upbeat about expanding the high margin production profile and increasing the lives of our mines per the initial results from the 2017 exploration program.
“We believe that Wassa Underground represents a significant exploration upside opportunity and we are excited to further investigate its potential. We will also continue to explore Prestea Underground’s potential for Mineral Resource expansion and to review five new underground targets, which may be able to provide additional high margin ore to fill our two mills.”
GSR last week reported further results from the step-out drilling of the high grade Wassa Underground Gold Mine indicating that the Mine has “substantial potential at depth.”
By Godfred Tawiah Gogo