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Ashanti Gold Corp encouraged by latest step out holes at Gourbassi West, Mali

The assays come from the recently completed 105 hole drill programme that tested mineralization at Kossanto East
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The Gourbassi West target consists of gold mineralisation associated with volcanic rocks along a northwest trending structural zone

Ashanti Gold Corp (CVE:AGZ) has released new, encouraging drill assays from its Gourbassi West area at the Kossanto East project in Mali.

The assays come from the recently completed 105 hole, 12,283-metre drill programme that tested mineralisation at Kossanto East. The Gourbassi West target consists of gold mineralisation associated with volcanic rocks along a northwest trending structural zone for over 1200m (meters) of strike length.

"These results come after much thought and analysis concerning the nature of mineralisation at Gourbassi West," said Tim McCutcheon, the chief executive.

He added that Paul Klipfel, the chief operating officer, had planned important step out holes on width at Gourbassi West.

"Drill hole GWRC305 shows the significance of this decision. These results add important widths to the mineralised zone and support the contention that there are multiple zones of mineralization along stacked thrust faults at Gourbassi West," said McCutcheon.

The firm said today's results "supported and expanded" on previously interpreted mineralised zones dipping moderately to the west. 

"In addition, drilling has revealed that the silicified breccia host rock is part of a “damage zone” associated with a thrust fault system."

Shares in Ashanti were unchanged at C$0.09.

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