Jul 30 2014
Asanko Gold Inc. ("Asanko" or the "Company") is pleased to announce positive results from the metallurgical test work program conducted on the Dynamite Hill deposit. Dynamite Hill is a recently discovered near surface deposit located 7 km from the processing facility, set to begin construction next month, at the Company's flagship Asanko Gold Mine ("AGM" or the "Project") in Ghana.
The metallurgical test work program, conducted by Metallurgy Pty Ltd in Western Australia, was undertaken to assess the gravity and cyanide leach amenability of the oxide, transitional and fresh material from the Dynamite Hill deposit, as well as the comminution characteristics.
The results have confirmed that the material from the deposit presents consistent and similar leach kinetics to the other deposits which make-up the Project. It is expected that the Dynamite Hill material will blend well with the ore from the other four Phase 1 Project pits; Nkran, Adubiaso, Abore and Asuadai and confirms that the standard gravity and Carbon-in-Leach processing facility designed for Phase 1 is appropriate for treating material from Dynamite Hill.
Results of metallurgical testing show that the gold recovery averages between 93.2 and 96.2% across the various mineral types with an average of 95%. Gravity gold separation test work indicates that approximately 50% of the gold is expected to be recovered in the gravity circuit. Comminution testing indicates that the Bond work index varies between 10 kWh/t for softer oxide ore and 16 kWh/t for the harder fresh material, which is a similar range as the other deposits at the Project.
A maiden Mineral Resource Estimate ("MRE") for Dynamite Hill is currently being compiled by the Company and is expected to be published in September 2014, along with a definitive mine plan which will be included as part of the overall Definitive Project Plan for Phase 1. As the Dynamite Hill mineralisation occurs at or near surface, minimal pre-stripping requirements are anticipated.
Following completion of the MRE and definitive mine plan, a modification to the existing Mine Operating Permit will be sought prior to commencement of mining activity at Dynamite Hill, which is anticipated in Q3 2015.
About Asanko Gold Inc.
Asanko's vision is to become a mid-tier gold mining company that maximizes value for all its stakeholders. Asanko's flagship project is the fully financed and permitted, multi-million ounce Asanko Gold Mine Project located in Ghana, West Africa. The mine will be developed in phases. Phase 1 has been approved and construction will commence in Q3 2014, with first gold is targeted in Q1 2016.
Asanko is managed by highly skilled and successful technical, operational and financial professionals. The Company is strongly committed to the highest standards for environmental management, social responsibility, and health and safety for its employees and neighbouring communities.