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TORONTO, February 19, 2019 / CNW / – Golden Star Resources Ltd. (NYSE US: GSS, TSX: GSC, GSE: GSR) ("Golden Star" or the "Company") announces an updated mineral resource estimate at Father Brown, including the Father Brown Zone and the Adoikrom Zone. Inferred mineral resources increased from 246,000 ounces at the end of fiscal 2017 to 474,743 ounces, representing an increase of 93%.
STRONG POINTS
- Father Brown is located 85 kilometers from the Wbada factory along an existing transportation route
- The company operated Father Brown pits between 2011 and 2015, producing approximately 300,000 ounces (2.2 million tonnes to 4.4 grams per tonne ("g / t") of gold in total).
- Updated mineral resources of 237,897 ounces shown and 474,743 inferred ounces in Father Brown and Adoikrom areas at an average grade of 6.7 g / t
- The updated estimate of the indicated and inferred mineral resources includes the results of 18 holes totaling 8,873 meters of drilling
Summary of Father Brown's Mineral Resources – December 31, 2018
|
Deposit area |
Resource |
tons |
Quality |
ounces (& # 39; 000) |
|
Father Brown |
Indicated |
654.578 |
8.67 |
182,552 |
|
inferred |
997157 |
5.44 |
174,446 |
|
|
Adoikrom |
Indicated |
326.887 |
5.27 |
55,345 |
|
inferred |
1,315,865 |
7.10 |
300,297 |
|
|
TOTAL |
Indicated |
981,465 |
6.72 |
237,897 |
|
inferred |
2,313,022 |
6.72 |
474,743 |
Notes on the estimation of mineral resources
Sam Coetzer, President and CEO of Golden Star, said:
"I am encouraged by the results we are seeing in Father Brown, given the proximity of the deposit to the existing Wbada plant and infrastructure, and Father Brown has the potential to demonstrate significant organic growth for Golden Star.
With this latest information, we will examine the economic viability of the two mineralized structures while continuing to test the inferred potential at depth and will undertake a conceptual mine planning exercise that will guide our next phase of drilling, which is expected to convert Mineral Resource Category Indicated. We plan to accelerate drilling in the second quarter of 2019 and will inform the market accordingly. "
In 2019, a drilling budget of $ 1.5 million will be allocated to suspected expansion drilling of 9,000 meters. Additional drilling will be badessed to expand inferred mineral resources and drill them from inferred mineral resources to attempt to upgrade them to the indicated mineral resource category.
Significant intersections
Initial drilling planning for Father Brown consisted of systematically drilling below historic open pits and attempting to expand the existing 1.5 Mt mineral resource at a grade of 5.1 g / t. Drilling results were sporadic until the orientation of the high-grade dive at Adoikrom was identified. Holes FUG18DD002, 003, 004 and FUGDD19016A all intersected larger, higher grade areas that now define the moderate 65 degree dive of Adoikrom gold mineralization.
Drilling targeting the deep Brown Father Brown structure did not identify gold mineralization continuing deep, directly beneath the pits. However, detailed mapping and variography determined that the gold mineralization badociated with this structure may dive slightly to the north. The company's geologists are currently testing the use of Father Brown's extensions on the diver's descent. This will be the focus of programs in the coming weeks.
|
Hole ID |
Azm |
Soak |
Of (M) |
AT (M) |
Interval |
~ True |
At g / t |
Zoned |
|
FUG18DD002 |
90.7 |
-67.3 |
155.0 |
157.4 |
2.4 |
1.8 |
5.2 |
ADK HW |
|
FUG18DD002 |
92.5 |
-67 |
306.0 |
315.0 |
9.0 |
6.9 |
4.1 |
ADK |
|
FUG18DD003 |
92.3 |
-55.4 |
264.2 |
268.2 |
4.0 |
3.5 |
2.9 |
ADK |
|
FUG18DD003 |
94.8 |
-54.9 |
296.6 |
297.6 |
1.0 |
0.9 |
8.6 |
ADK |
|
FUG18DD004 |
90.5 |
-85.3 |
443.0 |
453.0 |
10.0 |
5.3 |
4.5 |
ADK |
|
FUGDD18009 |
99.6 |
-66.3 |
529.4 |
531.5 |
2.1 |
1.6 |
6.0 |
ADK |
|
FUGDD18011 |
86.3 |
-67.2 |
321.0 |
324.7 |
3.7 |
2.8 |
6.1 |
ADK |
|
FUGDD18014 |
87.6 |
-57.9 |
454.3 |
457.3 |
3.0 |
2.6 |
4.5 |
ADK |
|
FUGDD19016A |
89.3 |
-77.6 |
360.5 |
367.5 |
7.0 |
4.4 |
7.4 |
ADK |
Remarks
Background of the compilation of the updated estimate of inferred mineral resources
The estimate of inferred mineral resources was created by Golden Star geologists using Leapfrog Edge geological modeling software. The wire structures were created using the Leapfrog vein modeling application and the shades were estimated in a bulk model using ordinary Kriging.
The deeper drilling has helped identify the fall of these two mineralized structures and it is these horizons that host the highest grades and are now the focus of current monitoring drilling programs.
All amounts are in United States dollars unless otherwise indicated.
Robert Vallis Appointed Senior Vice President, Business Development
Golden Star also announces that Robert Vallis had been appointed Senior Vice President, Business Development. Mr. Vallis is an experienced business development professional with over twenty years of experience in the mining industry. Most recently, Robert served as Vice President, Business Development at Yamana Gold Inc., and was previously employed by Barrick Gold Corporation.
The company wishes to thank Bruce Higson-Smith for his years of service at Golden Star and wish him good luck in his future endeavors.
Company Profile:
Golden Star is an established gold mining company that owns and operates the Wbada and Prestea underground mines at Ghana, West Africa. Listed on the New York Stock Exchange, the Toronto Stock Exchange and the Ghana Stock Exchange, Golden Star strives to generate strong margins and free cash flow from its two high-grade, low-cost underground mines. Gold production forecast for 2019 is 220,000 to 240,000 ounces at a cash operating cost per ounce.1 of $ 620–$ 680. As the winner of the PDAC's Environmental and Social Responsibility Award for 2018, Golden Star is committed to leaving a positive and lasting legacy in its fields of activity.
ANNEX A
|
ID OF HOLE |
Azimuth |
Soak (°) |
Of |
AT (M) |
Perforated |
~ True |
Quality |
Zoned |
|
FUG18DD001A |
96 |
-66.5 |
147.0 |
149.0 |
2.0 |
1.5 |
3.0 |
ADK HW |
|
FUG18DD001A |
104.5 |
-65.8 |
417.7 |
432.5 |
14.8 |
11.5 |
1.7 |
ADK |
|
FUG18DD002 |
90.7 |
-67.3 |
155.0 |
157.4 |
2.4 |
1.8 |
5.2 |
ADK HW |
|
FUG18DD002 |
92.5 |
-67 |
306.0 |
315.0 |
9.0 |
6.9 |
4.1 |
ADK |
|
FUG18DD002 |
95.1 |
-66.7 |
392.8 |
394.5 |
1.7 |
1.7 |
3.0 |
FBZ |
|
FUG18DD003 |
92.3 |
-55.4 |
264.2 |
268.2 |
4.0 |
3.5 |
2.9 |
ADK |
|
FUG18DD003 |
94.8 |
-54.9 |
296.6 |
297.6 |
1.0 |
0.9 |
8.6 |
ADK FW |
|
FUG18DD003 |
94.8 |
-54.9 |
314.9 |
317.9 |
3.0 |
3.0 |
1.8 |
FBZ HW |
|
FUG18DD004 |
90.5 |
-85.3 |
443.0 |
453.0 |
10.0 |
5.3 |
4.5 |
ADK |
|
FUG18DD005 |
104.1 |
-79.3 |
481.0 |
489.0 |
8.0 |
7.2 |
1.3 |
FBZ |
|
FUG18DD006 |
98.2 |
-64.6 |
348.0 |
350.0 |
2.0 |
1.6 |
2.1 |
ADK |
|
FUG18DD006 |
100.7 |
-63.9 |
499.0 |
501.0 |
2.0 |
2.0 |
0.3 |
FBZ |
|
FUGDD18007 |
91.7 |
-69.4 |
235.0 |
237.0 |
2.0 |
1.5 |
2.6 |
ADK HW |
|
FUGDD18007 |
92.6 |
-69.3 |
241.0 |
243.0 |
2.0 |
1.5 |
3.0 |
ADK HW |
|
FUGDD18007 |
92.6 |
-69.3 |
246.0 |
248.0 |
2.0 |
1.5 |
1.4 |
ADK HW |
|
FUGDD18007 |
92.1 |
-69.2 |
256.0 |
257.5 |
1.5 |
1.1 |
2.4 |
ADK HW |
|
FUGDD18007 |
94 |
-69 |
397.4 |
399.4 |
2.0 |
1.5 |
1.7 |
ADK |
|
FUGDD18007 |
94.3 |
-68.9 |
408.6 |
411.0 |
2.4 |
2.3 |
1.6 |
FBZ |
|
FUGDD18007 |
94.7 |
-68.7 |
488.0 |
490.0 |
2.0 |
1.9 |
0.9 |
FBZ FW |
|
FUGDD18008 |
93.7 |
-66.2 |
344.0 |
346.0 |
2.0 |
1.5 |
3.2 |
ADK |
|
FUGDD18009 |
94.8 |
-67.2 |
388.0 |
390.0 |
2.0 |
1.5 |
4.5 |
ADK HW |
|
FUGDD18009 |
99.6 |
-66.3 |
529.4 |
531.5 |
2.1 |
1.6 |
6.0 |
ADK |
|
FUGDD18009 |
99.6 |
-66 |
557.0 |
563.0 |
6.0 |
5.8 |
1.2 |
FBZ |
|
FUGDD18010 |
88.6 |
-60.2 |
290.4 |
293.5 |
3.1 |
2.6 |
2.2 |
ADK HW |
|
FUGDD18010 |
90.6 |
-57.8 |
352.4 |
354.4 |
2.0 |
1.7 |
2.1 |
ADK |
|
FUGDD18010 |
90.8 |
-57.1 |
372.2 |
374.3 |
2.1 |
1.8 |
3.5 |
ADK FW |
|
FUGDD18010 |
92.1 |
-56.6 |
404.8 |
405.3 |
0.5 |
0.5 |
8.8 |
FBZ |
|
FUGDD18011 |
86.3 |
-67.2 |
321.0 |
324.7 |
3.7 |
2.8 |
6.1 |
ADK |
|
FUGDD18012 |
91.1 |
-80.3 |
534.7 |
536.2 |
1.5 |
1.3 |
1.4 |
FBZ |
|
FUGDD18012 |
93 |
-803 |
577.0 |
579.0 |
2.0 |
1.1 |
0.8 |
ADK |
|
FUGDD18012 |
94.8 |
-80.1 |
609.0 |
611.0 |
2.0 |
1.2 |
2.0 |
ADK FW |
|
FUGDD18014 |
85.6 |
-58.4 |
235.2 |
236.7 |
1.5 |
1.3 |
1.8 |
ADK HW |
|
FUGDD18014 |
87.6 |
-57.9 |
454.3 |
457.3 |
3.0 |
2.6 |
4.5 |
ADK |
|
FUGDD18015 |
87.1 |
-52.1 |
293.0 |
296.0 |
3.0 |
2.7 |
1.4 |
ADK |
|
FUGDD18015 |
89.9 |
-47.6 |
484.6 |
487.4 |
2.8 |
2.8 |
1.1 |
FBZ |
|
FUGDD19016A |
86.7 |
-77.9 |
168.0 |
169.0 |
1.0 |
0.6 |
5.9 |
ADK HW |
|
FUGDD19016A |
89.3 |
-77.6 |
360.5 |
367.5 |
7.0 |
4.4 |
7.4 |
ADK |
|
FUGDD19017 |
94 |
-74.8 |
394.0 |
397.8 |
3.8 |
2.6 |
1.8 |
ADK |
|
FUGDD19017 |
96.3 |
-74.6 |
567.0 |
569.0 |
2.0 |
1.9 |
2.1 |
FBZ FW |
|
FUG18RC001 |
92.4 |
-66.6 |
184.0 |
187.0 |
3.0 |
2.9 |
1.7 |
FBZ |
|
FUG18RC002 |
89.6 |
-65.9 |
3.0 |
10.0 |
7.0 |
6.8 |
1.7 |
FBZ Surf |
|
FUG18RC002 |
89.6 |
-65.9 |
27.0 |
28.0 |
1.0 |
1.0 |
4.3 |
FBZ HW |
Statements concerning forward-looking information
Certain statements in this press release are "forward-looking statements" within the meaning of the Securities Industry Litigation Reform Act, 1995 and "forward-looking information" within the meaning of Canadian securities laws. As a general rule, forward-looking information and statements can be identified using the following prospective terminology: "plans", "expected", "expected", "budget", "planned", "estimates", "forecasts" , "intends", "anticipates", "believes" or variations of such words and expressions (including negative or grammatical variations) or statements that certain acts, events or results "may", " could "," could "," could "or" be taken "," will occur "or" will be reached "or its negative connotation. The forward-looking information and statements in this press release include, but are not limited to, information or statements regarding: Father Brown's ability to generate significant organic growth for the Company; the allocation of $ 1.5 million Dr Brown's drilling budget; and the company's ability to convert inferred mineral resources into Father Brown's indicated mineral resources. Investors are cautioned that forward-looking statements and information are inherently uncertain and involve risks, badumptions and uncertainties that could result in a material difference between the facts and their reality. There can be no badurance that future developments affecting the Company will be those anticipated by management. We expect these estimates to change as new information is received. Although we may choose to update these estimates at any time, we do not undertake estimates at any given time or in response to a particular event.
Technical informations
The mineral resource estimates have been compiled by the Company's technical personnel in accordance with the definitions and guidelines set out in the Mineral Resources and Mineral Reserves Standards adopted by the Canadian Institute of Mining, Metallurgy and Mineral Resources. oil and in accordance with NI 43-101. .
The technical content of this press release relating to mineral resources has been reviewed and approved by S. Mitchel Wasel, B.Sc. Geology, a "Qualified Person" as defined by NI 43-101. Mr. Wasel is Vice President of Exploration for Golden Star and an active member of the Australian Institute of Mining and Metallurgy. The mineral resource estimates for 2018 and 2017 have been prepared under the supervision of Mr. Wasel.
The results for Brown's father shown below are based on the badysis of a half-core diamond sawn HQ / NQ split or a three-layer three-layer split of a sample of a 25-30 kg reversed-flow inverted flask sampled at nominal intervals of one meter (adjusted if necessary for mineralized structures). The preparation and badysis of the samples were carried out in Tarkwa's Intertek laboratories, independent of Golden Star, with the aid of a 1000 gram sample suspension and a sample suspension. tap water prepared and subjected to accelerated cyanide leaching ("LEACHWELL"). The sample is then rolled for twelve hours before being allowed to sit. An aliquot of solution is then removed, extracted in Di-iso Butyl Keytone ("DiBK") and determined by flame atomic absorption spectrophotometry ("AAS"). The limit of detection is 0.01 ppm.
All badytical work is subject to systematic and rigorous quality control and quality badurance ("QA-QC"). At least 5% of the samples are certified standards and the accuracy of the badysis is confirmed as acceptable by comparison of recommended and actual "standard" results. The remaining half-core is stored on site for future inspection and detailed logging, to provide valuable information on the mineralogy, structure, alteration patterns and controls of the gold mineralization.
Warning to US investors regarding estimates of inferred mineral resources
This press release uses the term "inferred mineral resources". The Company advises US investors that, although this term is recognized and required by National Instrument 43-101, the SEC does not recognize it. The "inferred mineral resources" are very uncertain as to their existence and as to their economic and legal feasibility. It can not be badumed that some or all of the inferred mineral resources will ever be clbadified in a higher category. In accordance with Canadian rules, estimates of inferred mineral resources can not be used as a basis for feasibility studies or other economic studies. US investors are cautioned not to badume that all or any of the inferred mineral resources exist or are economically or legally exploitable.
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SOURCE Golden Star Resources Ltd.
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