Vancouver - Asante Gold Corporation (CSE: ASE/ FRANKFURT: 1A9) ('Asante' or the 'Company') announces a best efforts private placement to accredited and exempt investors ('Private Placement'), of up to 3,000,000 units at $0.05 per unit (each a 'Unit'), for aggregate gross proceeds of up to $150,000.
Proceeds from the private placement will be used to complete a trenching program on newly outlined IP targets on our Kubi Gold project and for general working capital purposes.
Douglas MacQuarrie, President and CEO states, 'At Kubi, the tenor of the gold mineralization is directly related to the sulfide content. Geophysical IP highs are often indicative of sulfide mineralization. The discovery of numerous IP high anomalies, brownfields to our Kubi Main gold resource, opens up extensive opportunities for resource expansion.'
The Company also announces that the field program to expose the gold mineralization in the north face of the Kubi pit has been successfully completed. Work consisted of: cleaning debris and some vegetation from the first two benches of the pit to expose fresh rock; the establishment of local survey control points in order to accurately locate collars for the proposed SMD pilot hole and the taking of grab samples (5.93g/t Au over 3.0 metre true width), to confirm the boundaries of the gold mineralized zone.
About Asante Gold Corporation
Asante is continuing to source funding to expand and develop its Kubi Gold project to production, and is exploring the Keyhole, Fahiakoba and Betenase concessions/options for new discoveries, all adjoining or along strike of major gold mines near the centre of Ghana'sGolden Triangle.
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