Golden Star Reports Extensions to Gold Deposits at the Hwini-Butre and Benso Project in Ghana.DENVER -- Golden Star Resources Ltd. (AMEX AMEX See: American Stock Exchange :GSS (storage) GSS - Group-Sweeping Scheduling. ), (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :GSC GSC gas-solid chromatography. ) today announced recent exploration results for the Hwini-Butre and Benso projects, which are located to the south of Golden Star's Wassa gold mine in Ghana. The work has indicated three possible new zones on the Benso concession and extended the known mineralization Mineralization The process by which the body uses minerals to build bone structure. Mentioned in: Rickets mineralization, n the bioprecipitation of an inorganic substance. , along-strike and down dip, at the Father Brown and Adoikrom deposits on the Hwini-Butre concession. Separately, drilling to collect metallurgical met·al·lur·gy n. 1. The science that deals with procedures used in extracting metals from their ores, purifying and alloying metals, and creating useful objects from metals. 2. and geotechnical samples for the feasibility study The analysis of a problem to determine if it can be solved effectively. The operational (will it work?), economical (costs and benefits) and technical (can it be built?) aspects are part of the study. Results of the study determine whether the solution should be implemented. , which is expected to be concluded by the end of 2006, has been completed. Work to date totals in excess of 6,400 meters of deep augur augur: see omen. , 14,300 meters of rotary Rotary can refer to:
Dr. Doug Jones, Vice President, Exploration said, "In January 2006, Golden Star commenced an aggressive program of exploration to extend the known mineralized min·er·al·ize v. min·er·al·ized, min·er·al·iz·ing, min·er·al·iz·es v.tr. 1. To convert to a mineral substance; petrify. 2. To transform a metal into a mineral by oxidation. 3. zones at Hwini-Butre and Benso and to upgrade and expand the previously defined resources. At the time of acquisition, St. Jude Resources Ltd. had reported that Hwini-Butre and Benso had total near surface attributable indicated mineral resources Noun 1. mineral resources - natural resources in the form of minerals natural resource, natural resources - resources (actual and potential) supplied by nature of approximately 5.3 million tonnes at an average grade of 4.5 grams of gold per tonne tonne measure of weight or mass; 1 tonne=1000 kg. See also ton. for about 0.77 million ounces of contained gold." "The exploration work," continued Dr. Jones, "has included intensive programs of diamond core drilling Diamond core drill bits are used to bore large holes in brick, concrete and stone. They are not generally used in other materials. The bit consists of a metal cylinder, usually relatively soft steel mounted on an arbor. and RC drilling at the main prospects and RAB drilling along extensions of the mineralized structures. Results obtained to date have been highly encouraging and indicate that excellent potential exists to expand the resource. In addition, data from geochemical surveys carried out previously have been reviewed and the geochemical coverage has been extended to new areas believed to have geological potential for repetitions of the known mineralized structures. In parallel, Golden Star is assessing development scenarios for Hwini-Butre and Benso and expects to complete a feasibility study "A Feasibility Study" is an episode of the original The Outer Limits television show. It first aired on 13 April, 1964, during the first season. It was remade in 1997 as part of the revived The Outer Limits series with a minor title change. by late 2006 which is expected to result in the conversion of a portion of the resources to reserves. The most likely development scenario continues to be the mining and haulage of the high grade Hwini-Butre and Benso ore to Wassa, in order to extend the life of the Wassa mine and increase production at lower cash costs with minimal additional capital investment." Auger auger (ô`gər): see drill. auger Tool (or bit) used with a carpenter's brace for drilling holes, usually in wood. It looks like a corkscrew and produces extremely clean holes, almost regardless of how large the bit is. and RAB Drilling Program In January 2006, Golden Star commenced a deep auger sampling program on both the Hwini-Butre and Benso concessions to delineate further RAB targets. At mid-year, approximately 6,400 meters of deep auger drilling had been completed. Since January 2006, approximately 6,500 meters and 7,800 meters of follow up RAB drilling has been completed at Hwini-Butre and Benso respectively using two RAB drill rigs, which continue to test deep auger targets on 200 meter spaced fences. New Targets Generated Drilling to date has delineated de·lin·e·ate tr.v. de·lin·e·at·ed, de·lin·e·at·ing, de·lin·e·ates 1. To draw or trace the outline of; sketch out. 2. To represent pictorially; depict. 3. three new targets. These new zones are shown on new maps located on the Golden Star Resources website (http://www.gsr.com/Operations/WestAfrican.asp) under the St. Jude-Ghana section. The zones are along projected strike extensions of targets identified by drilling prior to 2006. --The first of these is located approximately 400 meters south of the last diamond drill hole previously collared in the Subriso East target. Golden Star RAB hole BERB145 intersected 8 meters grading 22 grams of gold per tonne and was terminated in mineralization. --The second zone is located on what is interpreted to be the same structure and is approximately one kilometer kilometer one thousand (103) meters; 3280.83 feet; five-eighths of a mile; abbreviated km. further to the south. Golden Star RAB holes BERB253 and 254 were both terminated early due to wet samples but intersected two 3 meter zones grading approximately 3 grams of gold per tonne. Both of these targets are currently being tested with RC and core drilling to determine the extents of the mineralization down dip and along strike. --The third new target generated by the RAB drilling is located approximately 800 meters southeast of St. Jude's "G" zone along the projected strike extension of this zone. BERB302 intersected 9 meters grading 3.42 grams of gold per tonne. The southeast extension of G zone is currently being tested with infill in·fill n. 1. The use of vacant land and property within a built-up area for further construction or development, especially as part of a neighborhood preservation or limited growth program. 2. RAB drilling on 100 meter spaced fences. In addition to these new targets that have been generated, we have also been testing the immediate strike extensions of the zones defined by previous exploration to determine the potential for additional mineralization within these zones. Significant results from the RAB drilling are shown below with complete results and a location map provided on our web site www.gsr.com.
Hole ID North East From To Dip Azimuth Inter- True Grade
(m) (m) section Width (g/t)
(m) (m)
----------------------------------------------------------------------
Benso
----------------------------------------------------------------------
BERB302 57485 175512 12.0 21.0 -50 90 9.0 6.9 3.42
----------------------------------------------------------------------
BERB058 58034 176720 1.0 21.0 -50 90 20.0 15.3 1.75
----------------------------------------------------------------------
BERB145 58501 176962 22.0 30.0 -50 90 8.0 6.1 22.04
----------------------------------------------------------------------
Hwini-Butre
----------------------------------------------------------------------
HBRB0001 32759 176934 0.0 6.0 -50 90 6.0 4.6 4.54
----------------------------------------------------------------------
HBRB0002 32759 176958 9.0 12.0 -50 90 3.0 2.3 19.65
----------------------------------------------------------------------
HBRB0021 32811 176805 0.0 9.0 -50 90 9.0 6.9 19.52
----------------------------------------------------------------------
HBRB0034 33015 176543 17.0 29.0 -50 90 12.0 9.2 3.64
----------------------------------------------------------------------
HBRB0044 33119 176298 2.0 10.0 -50 90 8.0 6.1 3.42
----------------------------------------------------------------------
HBRB0094 33369 176318 0.0 18.0 -50 90 18.0 13.8 2.89
----------------------------------------------------------------------
HBRB0095 33419 176318 0.0 22.0 -50 90 22.0 16.9 3.46
----------------------------------------------------------------------
HBRB0097 33442 176334 0.0 11.0 -50 90 11.0 8.4 9.84
----------------------------------------------------------------------
HBRB0175 34496 176200 9.0 15.0 -50 90 6.0 4.6 5.58
----------------------------------------------------------------------
HBRB0253 32659 177145 1.0 7.0 -50 90 6.0 4.6 3.24
----------------------------------------------------------------------
HBRB0325 33208 177191 11.0 20.0 -50 90 9.0 6.9 3.48
----------------------------------------------------------------------
Resource Definition Drilling Resource definition RC and diamond core drilling has been undertaken on both the Hwini-Butre and Benso concessions. At Hwini-Butre we have completed in excess of 6,000 meters of drilling. Initial RC drilling below our earlier RAB intersections has tested the southern extents of the Adoikrom zone for another 175 meters to the south and confirmed that the mineralization continues with true widths and grades ranging between 4 and 7 meters and 1 to 3 grams per tonne gold. Metallurgical holes to collect oxide material for testing have confirmed the previous St. Jude drilling and results for holes ADKRC009 to 016 are tabulated below. Diamond drilling at Adoikrom testing the down dip extensions of the mineralization was conducted on 100 meter fences and confirmed the zone continues at depth. ADKDD001 and 003 intersected approximately 9 meter true thickness grading about 2.5 grams of gold per tonne between 50 and 75 meters down dip of the last drilling. This new drilling will be used to update the block models and to delineate new optimized pit shells to determine whether the down dip extensions of the Adoikrom zone are exploitable by open pit. If this is the case, Golden Star expects to conduct further drilling to delineate the extents of the economic mineralization. Significant intersections from the Adoikrom drilling are tabulated below with complete results and a location plan provided on our web site www.gsr.com.
Hole ID North East From To Dip Azimuth Inter- True Grade
(m) (m) section Width (g/t)
(m) (m)
----------------------------------------------------------------------
ADKRC009 33168 176249 60.0 69.0 -50 90 9.0 6.9 3.07
----------------------------------------------------------------------
ADKRC010 33167 176289 16.0 25.0 -50 90 9.0 6.9 2.24
----------------------------------------------------------------------
ADKRC011 33117 176273 28.0 35.0 -50 88 7.0 5.4 2.22
----------------------------------------------------------------------
ADKRC012 33356 176309 0.0 21.0 -50 90 21.0 16.1 3.46
----------------------------------------------------------------------
ADKRC013 33529 176322 0.0 19.0 -50 90 19.0 14.6 4.72
----------------------------------------------------------------------
ADKRC014 33479 176337 0.0 15.0 -50 90 15.0 11.5 3.88
----------------------------------------------------------------------
ADKRC015 33453 176324 0.0 23.0 -50 90 23.0 17.6 4.91
----------------------------------------------------------------------
ADKRC016 33428 176322 0.0 17.0 -50 90 17.0 13.0 2.51
----------------------------------------------------------------------
ADKDD001 33346 176124 208.8 220.9 -54 99 12.2 9.8 2.71
----------------------------------------------------------------------
ADKDD003 33447 176101 222.0 233.0 -53 94 11.0 8.8 2.52
----------------------------------------------------------------------
The Father Brown deposit located in the footwall foot·wall n. Geology 1. The mass of rock underlying a mineral deposit in a mine. 2. The underlying block of a fault having an inclined fault plane. and south of the Adoikrom zone is a relatively narrow high grade target which has previously been tested by St. Jude. The narrow high grade nature of this zone potentially makes it amenable AMENABLE. Responsible; subject to answer in a court of justice liable to punishment. to underground exploitation. To test the continuity of the zone down dip and along strike Golden Star has completed an initial phase of drilling involving 17 holes, FBZDD001 to 017. All holes intersected the structure with grades and true thickness ranging from a few grams to over 45 grams of gold per tonne over 1 to 5 meters. Hole FBZDD012 was drilled approximately 300 meters down dip of the last drilling completed by St. Jude and intersected an estimated true thickness of 5.7 meters grading 15.3 grams of gold per tonne. This intersection intersection /in·ter·sec·tion/ (-sek´shun) a site at which one structure crosses another. intersection a site at which one structure crosses another. is located 275 meters vertically below surface and is an excellent underground target. Drill holes FBZDD011, 004 and 003 which are located approximately 100, 150 and 250 meters up dip of hole 12, confirmed continuity of the structure, intersecting in·ter·sect v. in·ter·sect·ed, in·ter·sect·ing, in·ter·sects v.tr. 1. To cut across or through: The path intersects the park. 2. similar widths with lower but still encouraging grades. Significant results from the Father Brown drilling are tabulated below with complete results and a location plan provided on our web site www.gsr.com.
Hole ID North East From To Dip Azimuth Inter- True Grade
(m) (m) section Width (g/t)
(m) (m)
----------------------------------------------------------------------
FBZDD001 33142 176430 143.9 145.4 -62.5 87 1.5 1.5 46.26
----------------------------------------------------------------------
FBZDD003 33042 176426 45.0 49.0 -60 90 4.0 4.0 3.46
----------------------------------------------------------------------
FBZDD003 33042 176426 76.0 78.0 -60 90 2.0 2.0 5.64
----------------------------------------------------------------------
FBZDD004 33042 176424 53.0 55.0 -84 90 2.0 1.7 16.43
----------------------------------------------------------------------
FBZDD004 33042 176424 203.9 208.5 -85 90 4.6 4.0 9.64
----------------------------------------------------------------------
FBZDD005 32842 176424 230.0 232.0 -70 90 2.0 1.9 5.68
----------------------------------------------------------------------
FBZDD008 33092 176437 148.0 151.7 -67 92 3.7 3.6 5.81
----------------------------------------------------------------------
FBZDD009 32992 176431 74.0 77.0 -67 91 3.0 2.9 6.14
----------------------------------------------------------------------
FBZDD009 32992 176431 186.0 189.6 -68.5 104 3.6 3.5 5.87
----------------------------------------------------------------------
FBZDD010 33092 176436 171.0 172.0 -77 101 1.0 0.9 10.92
----------------------------------------------------------------------
FBZDD011 33044 176272 220.0 224.0 -62 97 4.0 4.0 3.00
----------------------------------------------------------------------
FBZDD011 33044 176272 261.0 266.3 -62 97 5.3 5.3 3.33
----------------------------------------------------------------------
FBZDD012 33044 176270 39.0 47.0 -80 90 8.0 7.3 2.30
----------------------------------------------------------------------
FBZDD012 33044 176270 289.0 295.3 -80 128 6.3 5.7 15.31
----------------------------------------------------------------------
FBZDD013 32793 176592 149.7 151.0 -83 112 1.3 1.1 5.14
----------------------------------------------------------------------
FBZDD016 32892 176433 205.0 207.8 -61 98 2.8 2.8 4.35
----------------------------------------------------------------------
The Father Brown mineralization consists of white quartz veins with pale alteration Modification; changing a thing without obliterating it. An alteration is a variation made in the language or terms of a legal document that affects the rights and obligations of the parties to it. haloes hosted by dark green diorites of the Mpohor Complex which would allow visual grade control, which along with the competent host rock, narrow widths and relatively high grades further favor underground extraction. Resource definition drilling has just commenced at Benso with less than 1,000 meters being completed to date. Results from this work will be provided in a future press release. Technical Studies Some 2,800 meters of drilling to collect samples for further metallurgical and geotechnical test work for the feasibility study has been completed and the samples are being packed for shipment to Ammtec Laboratories in Australia. Geotechnical drill core testing is ongoing with results being sent to SRK SRK Shah Rukh Khan (Indian actor) SRK Shoryuken (fighting games) SRK Soave-Redlich-Kwong (thermodynamic model) SRK Syk-Related Tyrosine Kinase Cardiff for the determination of pit design parameters. Expenditure Exploration expenditures on the project to date in 2006 are approximately $0.9 million with an additional approximate $0.4 million being spent on engineering and metallurgical drilling. The exploration budget for Hwini-Butre, Benso and surrounding concessions in 2006 is $3.3 million with another $1.0 million allowed for feasibility study work. Both exploration and development programs are progressing on schedule and under budget. Standards of Disclosure This news release has been prepared in accordance Accordance is Bible Study Software for Macintosh developed by OakTree Software, Inc.[] As well as a standalone program, it is the base software packaged by Zondervan in their Bible Study suites for Macintosh. with Canada's National Instrument 43-101, Standards of Disclosure for Mineral Projects. Drilling, sampling and laboratory quality assurance and control have been overseen and reviewed by S. Mitchel Wasel, our Exploration Manager, West Africa West Africa A region of western Africa between the Sahara Desert and the Gulf of Guinea. It was largely controlled by colonial powers until the 20th century. West African adj. & n. . Mr. Wasel is a qualified geologist with 18 years of experience in gold and base metal exploration and is a Member of the Australasian Institute of Mining and Metallurgy metallurgy (mĕt`əlûr'jē), science and technology of metals and their alloys. Modern metallurgical research is concerned with the preparation of radioactive metals, with obtaining metals economically from low-grade ores, with . All diamond drill core is being sawn on site, with half the core lengths sent to TransWorld Laboratories in Tarkwa, Ghana Tarkwa is a town in the southwest of Ghana, located about 120 miles west of Accra. As of 2005, it was estimated to have a population of 40,397. Transport Tarkwa is a junction on the Ghanaian Railways. , for sample preparation and analysis. The remaining half core is stored on site for future inspection and detailed logging, to provide valuable information on mineralogy mineralogy Scientific study of minerals, including their physical properties, chemical composition, internal crystal structure, occurrence and distribution in nature, and origins or conditions of formation. , structure, alteration patterns and the controls on gold mineralization. All RAB holes are initially sampled in three meter composites, with intervals exceeding 0.2 grams of gold per tonne being resampled on one meter intervals. All RC holes are sampled in two meter composites with all intervals exceeding 0.2 grams of gold per tonne being resampled on one meter intervals. All sample preparation, crushing crushing deaths of newborn animals, especially those in litters, caused by the mother lying on them accidentally. Contributed to by weakness of the neonate or awkward accommodation. A problem in piglets and puppies. Called also overlying. and analysis are carried out at the TransWorld Laboratories in Tarkwa, Ghana. Samples are subjected to 12-hour BLEG Leachwell analysis of 1,000 gram sub-samples pulverized pul·ver·ize v. pul·ver·ized, pul·ver·iz·ing, pul·ver·iz·es v.tr. 1. To pound, crush, or grind to a powder or dust. 2. To demolish. v.intr. to 85% at minus 75 microns (200#) to a quoted accuracy of 10 parts per billion of gold. All analytical analytical, analytic pertaining to or emanating from analysis. analytical control control of confounding by analysis of the results of a trial or test. work is subject to a systematic and rigorous Quality Assurance-Quality Control (QA-QC). At least 5% of samples are blanks, duplicates and certified See certification. standards and the accuracy of the analysis is confirmed to be acceptable from comparison of the recommended and actual 'standard' results. The tables within this press release summarize sum·ma·rize intr. & tr.v. sum·ma·rized, sum·ma·riz·ing, sum·ma·riz·es To make a summary or make a summary of. sum the significant intersections to date from our ongoing drilling programs. Full details of the drill results are provided on the Company's website at www.gsr.com. Company Profile Golden Star holds a 90% equity interest in the Bogoso/Prestea and Wassa open-pit gold mines in Ghana. In addition, Golden Star has an 81% interest in the currently inactive in·ac·tive adj. 1. Not active or tending to be active. 2. a. Not functioning or operating; out of use: inactive machinery. b. Prestea Underground mine in Ghana, as well as gold exploration interests elsewhere in Ghana, in other parts of West Africa and in the Guiana Shield The Guiana[1] Shield (Spanish: Guayana) is one of the three cratons of the South American Plate. It is a 1.7 billion year old Precambrian geological formation in northeast South America that forms a portion of the northern coast. of South America South America, fourth largest continent (1991 est. pop. 299,150,000), c.6,880,000 sq mi (17,819,000 sq km), the southern of the two continents of the Western Hemisphere. . Note regarding Canada's National Instrument 43-101: The above disclosure has been reviewed by our Qualified Person, Mr. S. Mitchel Wasel, our Exploration Manager in Ghana. Cautionary Note to US Investors concerning estimates of Indicated Mineral Resources: This press release uses the terms "indicated mineral resources." We advise US investors that while this term is recognized and required by Canadian regulations, the US Securities and Exchange Commission does not recognize it. US investors are cautioned not to assume that any part or all of the mineral deposits in these categories will ever be converted into mineral reserves. Statements Regarding Forward-Looking Information: Some statements contained in this news release are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Investors are cautioned that forward-looking statements are inherently uncertain and involve risks and uncertainties that could cause actual results to differ materially. Such statements include comments regarding: the exploration assessment, and possible development, mining and processing of material from Hwini-Butre and Benso; the timing for the completion of a feasibility study; potential extension of Wassa mine life, and production, cash costs and capital investment impacts; and the budgeted exploration expenditures for Hwini-Butre and Benso. Factors that could cause actual results to differ materially include variations in ore tonnes and grade; variations in relative amounts of material type; the estimation estimation In mathematics, use of a function or formula to derive a solution or make a prediction. Unlike approximation, it has precise connotations. In statistics, for example, it connotes the careful selection and testing of a function called an estimator. of mineral resources; delay or failure to receive board or government approvals and permits; timing and availability of external financing In the theory of capital structure, External financing is the phrase used to describe funds that firms obtain from outside of the firm. It is contrasted to internal financing which consists mainly of profits retained by the firm for investment. on acceptable terms; technical, permitting, mining or processing issues; fluctuations in gold price and costs; and a determination to use funds for other purposes. There can be no assurance that future developments affecting the Company will be those anticipated by management. Please refer to the discussion of risk factors in our Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for 2005. The forward looking statements contained in this press release constitute management's current estimates, as of the date of this press release, with respect to the matters covered thereby. We expect that these estimates will change as new information is received and that actual results will vary from these estimates, possibly by material amounts. While we may elect to update these estimates at any time, we do not undertake to update any estimate at any particular time or in response to any particular event. Investors and others should not assume that any forward looking statements in this press release represent management's estimate as of any date other than the date of this press release. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion