Asante Gold Corp (CSE:ASE)


Asante Gold Corp. is a Canadian Securities Exchange listed gold exploration company based in Vancouver, Canada. The company is focused on the exploration and development of gold mining assets in Ghana.

Market Overview

Company Background

Asante Gold Corporation (CSE:ASE/FRANKFURT:1A9) is a Vancouver, Canada based gold exploration company. Our current focus is Ghana, West Africa where we have announced the purchase of 100% of the Kubi Mining Lease, pending final closing and governmental approvals. Kubi adjoins to the south of AngloGold Ashanti’s 66 million ounce* Obuasi Gold Mine concessions, one of the World’s greatest orebodies (* pre-mining resource).We also hold an option to earn up to 100% of the Keyhole concessions from Sikasante Mining Company Limited and the Betenase project from Perseus Mining (Ghana) Limited; 100% of the Fahiakoba concession located 9 kilometres west of Kubi and adjoining to the north of Perseus’ 6.6 million ounce* Edikan Mine.


Gold in Ghana

  • Focused exclusively on gold exploration & development projects
  • Ghana is second largest gold producer in Africa and 9th globally
  • Projects located within Ghana’s Golden Triangle

Near-term Production

  • Asante Gold currently sourcing project based funding to advance Kubi Gold Project

Exploration Upside

  • Exploration upside from 340km2 of concessions on strike or near brownfields to major Ghana operating mines
  • Recently drilled 3m of 13.1g/t gold at Keyhole Project in vicinity of extensive alluvial gold mining

Share Structure

As of Mar 25, 2019
Shares Issued57,160,221
Fully Diluted69,980,019

Other Information

Kubi Gold Development Project

  • Currently sourcing US$20M in project financing to develop the Kubi Gold Mining Lease toward production
  • Estimated 12 to 18 month* timeline to complete exploration decline, resource to reserve definition drilling, final mine planning, permitting and surface works – custom milling being considered
  • Target ~35koz Au per year at circa 550 tpd*
  • Resource open to expansion at depth – Ghana mines have deep roots
  • Low risk: brownfields to Obuasi mines, extensive drilling, previously surface mined, simple processing - to 95% recovery in metallurgical tests
  • NI 43-101 Mineral Resource :
    • Measured 0.66 Mt @ 5.30 g/t Au for 112,000 oz gold
    • Indicated 0.66 Mt @ 5.65 g/t Au for 121,000 oz
    • Inferred 0.67 Mt @ 5.31 g/t Au for 115,000 oz
  • Open at depth (ore shoots at nearby +66 million oz Obuasi mine are outlined to over 2.5 km depth)
  • Drill indicated +8 g/t Au high grade areas to be targeted for initial stope design from planned underground resource to reserve definition drilling program
  • 20 year renewable mining lease
  • Large exploration upside on 19 km2 land package

Management Profiles

Douglas R. MacQuarrie


Mr. MacQuarrie has over 40 years’ mineral exploration experience, including the last 23 years in West Africa. He led the discovery and acquisition of significant gold deposits in Canada and in Ghana and is the former CEO of PMI Gold Corporation – which acquired and drilled off Obotan +5 million oz. prior to being bought by Asanko Gold in 2014 (valued at CAD$183million).

Philip Gibbs

Chief Financial Officer

Mr. Gibbs has extensive knowledge of the financial aspects of Exchange listed exploration and mining companies operating in Africa and South America. He is currently the interim CEO of Kilo Goldmines Ltd., and CFO Macusani Yellowcake Inc. , and the former CFO of PMI Gold Corporation (now Asanko Gold).

Bashir Ahmed

Director & Vice President Production & Development

Mr. Ahmed is a former Mine Manager at AngloGold Ashanti’s Obuasi Mine with 30 years’ experience in mine operations, planning, production and management. He managed Obuasi workforce of +1,000 employees with an annual budget of US$100 million. He is based in Obuasi, Ghana.

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